OCR Text |
Show LITTLE ffilTl ii mm August Exports Show Decrease De-crease Over July's Large Total. Metal prices for the wek ending September Sep-tember 10, as quoted by the Kiitf ineertng and Mining Journal and furnished by the Utah Ore Sampling company, show but little variation. For the above mentioned period the average price of copper was $22,125, as compared with ?22.IJ5 for the week preceding-. The close was $22. 12o. Spelter average price for the wci-k ending end-ing September 10 was 57.415 and the close $7,275. Concerning developments in t he metal market during the past week, the Boston N ews Bureau s a y s : "The copper market has resolved itself largely into an odd-lot affair. There has also developed this wei'k some buying by speculators, which has been regarded as covering short sales made a fortnight ago. "Copper sales during August were, it is : estimated, below 100,000,000 pounds, i whereas In each of the two months pre-: pre-: ceding transactions were above 200,000.-; 200,000.-; 000 pounds. A large part of the past month's sales comprised transactions in which earlier buyers later turned sellers. "Efforts of some of the larger producing produc-ing interests to increase their output have begun to bear fruit, as evidenced by gains in the August production of Anaconda Ana-conda and Phelps-Dodge company over ! the totals for July. ! "Lake copper, at 23 cents for Novem-j Novem-j ber delivery, marks the top price for the 1 past few days. The market has been I quite irregular as to price, however, as ! the offerings of other than producers have j ! caused business to be done at a lower i level simultaneously with the better quo- , ! tations. j "One of the largest consumers of copper cop-per in the country has been buying metal , during the past few weeks from brokers ! and smaller interests through whom large i quantities have been sold. Ordinarily this I manufacturer has taken his requirements direct from the leading producers, who ! have been the only ones able to supply I the necessary quantities. I "No direct German inquiry for copper ! lias come to the American producers since 'the 1000-ton purchase and shipment of ! that amount a few weeks ago. There has developed, however, a great number of Inquiries, large in the aggregate, from Holland, which country was formerly the port of entry for millions of pounds of the metal destined for Germany. "Scandinavian countries, too, have entered en-tered this market for copper in substantial substan-tial quantities. It is believed that some of this metal may find its way into Germany Ger-many in manufactured if not raw form. "There was a big falling off in August exports of copper from the July volume which, excepting January, was the heaviest heav-iest month of this year to date. Last week the American Smelting & Refining company shipped from its Baltimore plant about 6000 tons of copper, of which 3000 tons were consigned to Roterdam and 500 tons to Antwerp." |