Show METAL MARKET COMMENT zinc pro production ducton registered a sharp increase of tons ton or more than 20 per cent in october to a total of tons the highest figure since july 1920 when tons were ivere had turned out this pronounced expansion in operating scale been forecasted earlier through these columns says the deiv ne york financial review of the deliveries of metal from arora smelting smelling sm elting plants was als also 0 higher to tons so that the stocks on hand at smelters shelters sm elters fell off only tons to 18 supplies held by distributors and in warehouses are not available the american zinc institute still continues to withhold its data upon the number of retorts in operation which seems significant coming just when the scale of new work is increasing alarmingly for 10 months of 1922 zinc production amounts to tons contrasted with for all the 1921 deliveries from smelters shelters sm elters to distributors for the latest period are given as tons against in the preceding year the local market has worked ever higher to cents a pound forward position however are quoted 10 points lower indicating expectation of lower future rates the london market is somewhat depressed as ad lower on prompts and as ad on futures this is below our parity lead is still higher at cents new york delivery and even further advance is indicated the london market even under higher exchange rates advanced as ad to 26 as ad the copper market is somewhat easier with quotations holding in around 1387 cents delivery as the price cutting competition seems to be laid aside temporarily the export situation however is b rowing growing more serious and in september total imports actually exceeded raw metal exports by pounds under these conditions the prospect of the chile earthquake holding up chile copper companas Comp anys overproduction is the best news the trade has heard this year larger african output is suggested by larger railroad developments projected for the belgian congo locally the press agent has refined copper stocks down to lbs ibs together with of blister metal if this were actually so selling prices would be far hi hiher higher ZD her than they now are that is certain |