OCR Text |
Show THE COPPER MARKET. From tho copper circular of April 1th, in the New Sfork Engineering and Mining Journal of the loth, wo gather tho following information : Tho total homo consnmption of copper for 1872 is ostimated to havo been thirty-six million pounds, of which some eight millions were imported, chiefly from England and Chili. Tho Lake Superior Supe-rior mines havo averaged, during tho last four years, an annual production of twonty-iivo millions pounds, leaving but three millions from other producing pro-ducing mines of tho United States, which are principally located in Tennessee. Ten-nessee. England in 1S7U imported from Japan and Australia and even rc-ehipped rc-ehipped from tho East Indies. The present stock of copper in tbo United States is placed at two million pounds Lake Superior and one million foreign, a smaller balance than the year before. Although tne home production will, without doubt, bo greatly increased during the present season, at the same time the consumption, from tho revival re-vival of ship building and other causes, will uioro than balance this IcaviDg a large amount to be imported. Owing to the scarcity of fuel and labor la-bor the Chili mines are yearly decreasing decreas-ing their production, so that during 1873 England must supply the surplus copper required in ih United States. The prices of copper in New York upon the 9;h of the present mouth, quoted from the Mining Journal, were: new eheathiog, 43 cents; bolts and braziers, -15; yellow metal sheathing, 27; yellow metal bjlts, 32 net oash; Lake Superior, 34, cash; end English, 31, 30 days. Five thousand thou-sand pounds of old copper sold at L'TJ cents. The stock in England still continues largo but the imports there are falling off very considerably and this, together with the high price uf coal, acd an increased demand in Europe Eu-rope generally, it U believed, will eaose a steady rising market in Lag-land Lag-land as well as the United States. This oouotry certainly hx$ tho abi;ity not only to supply copper for its own consumption, con-sumption, but lor exportation to England Eng-land and Europe. It is a singular anomaly to hod England importing this metal from Japan and Australia and rcshipping from .the East Indies to export aguiu to the Uait:d States; and to overcome this anomaly Utah may bo expected soon to contribute her quota. |