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Show T'iFT.D OF II PR1CESJJPWARD Copper Makes Gain, While Spelter on Close Jumps Twenty-seven Cents. Copper displayed better form during the past week, according to prices Quoted . by the Engineering and JIinins Journal j as reported by the L'tah Ore Sampling: company. While the close, $1.55, is per-l ilously near production cost, an advance j of seventeen and a half Cents has been I made during me week. Tnis advance ( marks a distinct reversal oi turni as , compared Willi the price quoted duiing the first part of the month, when me price ranged around $17.o75. The average of prices for t.ie week ending December 24 shows a Slight K'Ll" from an average price of sli.u,o lor tne j week of the seventeenth to an aveniM-of aveniM-of $1S 442. These improvements, slight though they may be, are due to the buvilig movement which has preaiitu within the past few weeks. Since the beginning of .November, says the boston News Bureau, it is estimated over -ou,-000,000 pounds of copper have been marketed mar-keted by producers. Before etfectlng any sales of consequence, however, a was necessary to lower prices to a level perilously per-ilously near actual production cost. t 18 cents a pound there was good buying and the bulk of the recent, big business was accomplished at that figure. The curtailment policy of the past year has had Its effect on copper costs, which have advanced to almost IS cents a pound against 16 cents, the 191S government govern-ment average. It is understood that one agency marketed mar-keted 45,i00 tons, or 100,SOO,"UO pounds of copper in the past six weeks. This quantity, however, probably included metal for export which must be ailoted among other producing factors. two agencies did a joint business of over 150,000,000 pounds. Despite the large quantity sold producers pro-ducers have not abandoned the idea that output must be further curtailed to bring accumulated stocks down to more nearly a normal level. Stocks at the year-end will it is estimated, exceed those standing stand-ing at the beginning of the year when 1.000.000,000 pounds were in producers hands. ,.-r-i, representative producer says: The bulk of recent sales call lor delivery during the first quarter of I'JCO so the new vear will be quite in contrast with conditions under which the present one was entered. ' , , "Not the least interesting and Important Impor-tant of the business booked was that for export account. It will call for fair sized quantities of the metal to be shipped to Kngland, France and Germany. It would not be surprising if much of the recent selling of American securities In New York for foreign account was to finance fi-nance the German purchases. Payment was made in American dollars." Spelter advances all along have been consistent, but during the past week prices have been surprisingly buoyant. From a close of $S.225 for the week of December 17 the price advanced to a close on Wednesday of $S.50. The average av-erage price, JS.3625, shows an advance of 13 cents when compared with last week's average of SS.2;!3. |