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Show COPPER SITUATION APPEARSJBiGHTER Day of Under 15 Cents for Red' Metal Seems to Have Vanished. "Domestic consumers of copper have ap- 1 pea-re. in the market with inquiries for teveraJ months ehead and their purchases curing the past lew days have aggregated 5,000.000 pounds, says the Eos ton News Biireau. The result has been a stiffening of prices to 15 cents and better. The ceut copper has disappeared, the cheap metal having apparent: vanished. Deliveries on s&ies booked extend through June, but producers have not been anxious to Sell for that month, their preference being to dispose of near-by metal. March -April copper has been mostly In demand, with some business done in the two following months. As high as 15:s cents a pound has been paid, on the current buying movement. The first "nibblh-.g" of importance developed de-veloped last Thursday followed by real buying otders on Friday and Saturday. The export demand will develop through the Copper Export association. Some of the metal held in London has sold at the equivalent of 16 cents a pound in that market. C. F. Keliey. president of the Anaconda C opper Mining company; J. C. Cienden-nin, Cienden-nin, vice president of the American Smelting Smelt-ing & Refinin company; JL L. Agassiz, president of t;:e Calumet & Heola Mining company, and Waiter Douglas, president ci the Phelps-Doage corporation. who have been in Europe for the past two months for the Copper Export association, will refurn to New York on the Cunarder Acmtania. They will not bring back any orders of importance for copper, although they will have good first-hand knowledge of conditions con-ditions throughout Europe and a fair idea, of when buying from abroad may be expected ex-pected to resume. Germany will need copper, and plenty of it. With peace signed and either credits or financing available, large orders for copper may be expected from that country. coun-try. England. Franco and Italy have close to naif a billion pounds on hand, of which England possesses approximately 100,000, 000 pounds. These countries also have copper in the United States yet to be delivered. Under a new arrangement, future purchases pur-chases of supplies in the United States for the account of France and England will be done through a pooling agreement which will probably tend to restrict for a time competitive buying of copper and copper products. Copper-producing Interests have come to the conclusion that for some time to come the factories which have been erected in those countries during the war period will be utilized as peace plants consuming: large amounts of copper metal. |