Salt Lake Tribune | 1909-08-09 | Page 6 | Condition of Copper Market Last Week

CONDITION OF COPPEB MARKET LAST WEEK Situation of Previous Week Reversed Wlicn Price Was Reduced .Some. NEW YORK. Aug. 7. The course of re. fined copper during the last week of July was tho reverso of what It was during the preceding week, when an ndvnnco was duo entirely to manipulation of tho standard market, at London. Last wock prices receded ic a pound In tho domestic domes-tic market, favored by the reduction In the asking prices by the Amalgamated Interests nnd accelerated by the realizations realiza-tions or liquidation of speculative accounts ac-counts In standard at London. Otherwise Other-wise the situation was unchanged. Exports Ex-ports continued very heavy, aggregating nearly 76,000.000 pounds during thn month, nnd If deliveries Into domestic consumption have been proportionately Increased there has doubtless boon a reduction re-duction of about 16.000.000 pounds In producers' pro-ducers' holdlncs during the month, but there has been a greater Increase In accumulations ac-cumulations of stocks abroad, visible and Invisible. Tho visible supply that Is, In warehouse In Great Britain Is Increased ahout 20,000,000 pounds, notwithstanding that there have been larger shipments to tho. continent of Europe. During tho last week tho exports to Great Britain were enormous, but.theso will not be reflected re-flected In the European statistics until the middle of next month. Imports Into the United Slates havo also continued on a liberal scale, and the returns, which arc not complete, Indicate between 12.000 nnd 11.000 tons, or between be-tween 25.000,000 nnd 30.000.000 pounds for the month of July. Consumption In Europe Eu-rope Is still running 75 and SO per cent of what It was last year, but consumption consump-tion in the 'tilted Slntos has been Increasing, In-creasing, although It Is still below tho ralo of the monthly melting In 1906. The output Is still at maximum rate, or about 120,000.000 pounds per month. The exports ex-ports for the month of July were 33.S1P tons.