Show COPPER GOSSIP geo L walker in boston commercial copper continues dull and prices are unchanged lake is 14 to 14 cents and electrolytic 1414 to 1412 14 cents per pound A decline in the london price of copper has weakened the general tone of the market slightly but it is good opinion that this represents nothing more than current speculation it is know that american producing and consuming int interests orests have been operating quite extensively exten sivey recently in the london market for standard copper those who believe in an advance after the first of the year buying and others selling these operations have been for individual and not for company account this trading has resulted in a very large increase in the volume of transactions and if it continues it will eventually make the foreign speculative market a more accurate reflection of actual trade conditions and prospects than it has been for several years past domestic trade reports are decidedly encouraging cou raging the number of men employed in brass sheet and wire mills is steadly increasing and the management of several of these plants which are now operating day shifts only are considering the advisability of running nights also the copper producing industry ha has no occasion for fears in connection with the proposed readjustment of the tariff by the coming session of congress pig plate bar and ingot copper are on the free list now manufactured copper goods including all articles in which copper is a component of chief value when imported pay a duty of 45 per cent ad valorem valoree va lorem should a reduction in the tariff have a tendency to reduce the cost to consumers of such manufactured copper articles it would simply tend to hi increase crease their popularity and use and would therefore call for a larger consumption of copper abroad resulting in heavier exports of raw copper during the first eleven months of this year tons of copper was exported comparing with tons in the corresponding sp period last year a gain of 42 per cent it is probable that domestic consumption will show a falling off of about 30 per cent this year compared with last it will be remembered however that there was a considerable accumulation of copper last year while this year consumption has exceeded production and the surplus has entirely disappeared two years ago copper was at the highest price reached in a period of over thirty years eleven months later the country was in a panic and copper was since trenwith then with various fluctuations due partly to speculation the pride price has gradually advanced and it is probable that the average price of the two years has been between 15 and ac 16 cents it may be assumed therefore that 15 to 16 cents is now the normal price of copper and that on this basis of prices the production of the worlds mines will be ba absorbed rapidly the mines of orth america produce more than 70 per cent of the worlds copper and the average cost probably does not exceed 10 or 1014 cents per pound on 1512 cent copper therefore there is a very large profit for the american copper mines and this will stimulate the continued organization of new mining development enterprises north america is the source of the buk of the worlds copper supply and as this continent consumes less than two thirds of its production copper is a great factor in building up foreign trade balances |