Show the copper industry for year 1919 the principal features of the american copper industry during the year 1919 are shown in an advance statement on the production of copper in the united states by H A C jenison of the united states geological survey department of the interior the smelter output in 1919 was about pounds a decrease of pounds from that of 1918 the production of refined primary and secondary copper from domestic and foreign ore and metal was pounds which was pounds less than the production in 1918 refined primary copper amounting to pounds was produced from ore or other material imported from foreign countries principally chile peru mexico and canada the discrepancy between the smelter production and the refinery production is due to the fact that pounds of blister copper and other material was in process of refining at smelters shelters sm elters and refineries or in transit on january 1 1919 and though it was smelted smelter in 1918 it was not refined until 1919 in 1919 the imports of copper in all forms amounted to pounds and the exports of copper in all forms amounted to pounds which was pounds less than the exports in 1918 and pounds less than those in 1917 the exports in 1919 were less than in any year since 1907 on january 1 1919 the stocks of refined copper were pounds and on january 1 1920 they were pounds an increase during 1919 of about pounds the stocks on january 1 1920 were several times greater than they have ever been before in addition to the stocks of refined copper in hand about pounds of blister copper and material was in process of refining ning at smelters shelters sm elters and refineries or in transit on january 1 1920 this estimate does not include blister in foreign smelters shelters sm elters destined for the united states for refining nor material in transit to the united states from such smelters shelters sm elters the apparent domestic consumption in 1919 was about pounds which is pounds less than that in 1918 and less than the domestic consumption in any year since 1914 causes of decrease in output many causes contributed to decrease the smelter and refinery production the domes tic consumption and the exports and to increase the stocks but the principal cause was a poor market the industry was working abot maximum capacity when the war demand for copper copier ceased and it was then rhen of course forced to continue production only at the rate required to supply the or binary commercial and industrial demand the war demand was stopped so suddenly as to disturb greatly the trade and industrial conditions and the prospects for the immediate future appeared so uncertain that few industries were able to continue pr production without first decreasing it greatly and reorganizing to some extent their in du mechanism and costs under the peacetime peace time conditions the demand for copper was small and the average price soon fell from to about 15 cents a pound this price was far below the actual cost of the production of a very large part of the previous years output all smelters shelters sm elters and mines were forced to decrease production some were shut down entirely others were operated at the min minimum capacity that would keep the organization intact and the equipment in proper order much of the copper in stock could not be profitably held and the placing of a large part of it on the market kept the 4 price down though it showed a tendency to rise when the readjustment set in the price during the year showed many fluctuations but averaged only cents a pound which was about 24 per cent less than the average price in any year since 1915 though the cost of ia labor bor and supplies had risen as much as 15 per cent during that time the labor troubles in other industries decreased the demand for copper increased the cost of supplies used by the copper industry and materially increased the cost of production decrease in foreign demand by the time the price of copper had risen high enough to permit the industry to meet these unfortunate conditions foreign exchange began to fall so rapidly that foreign buyers were unable or reluctant to purchase american copper and finally the exchange between the united states and foreign centers dropped so low that they could no longer buy it these conditions almost ruined the foreign market for american copper and the demand and the price in the domestic market were less than they had been at any time for several years on the whole the year was an unsuccessful one and in view of the conditions it is remarkable that the industry remained as stable as it did prospects for 1920 it is hard to foresee what improvement can be expected in 1920 but the quantity of copper sold in the early part of 1920 indicates that the year will be better than 1919 any improvement however will be temporary and no stability or security can be found until existing troubles are settled and industry and trade become more ci the prosperity of the copper industry is lecul barly dependent upon the establishment of 0 stability in other industries and before the industry can receive any great stimulus the condition of labor and trade generally not only in america but in europe must be greatly improved when that time comes the industry will undoubtedly be as prosperous as ever |