Salt Lake Telegram | 1928-01-29 | Page 29 | Copper, Lead Are Both Firm

FIRM Foreign Buying Helps Red Metal NEW YORK TORK Jan 28 AP AlMany Al'- Al' Many steel mills were reporting in increased increased in- in creased specifications against contracts contracts con con- tracts the past week and In turn this was said to have brought about a larger production rate i However there was a disposition In some quarters to view the market as dis disappointing disappointing dis- dis appointing as to the volume of new business Railroad business placed so far ft this month Is well welt below that of December Structural steel contracts contracts con con- tracts and orders from automobile builders and manufacturers of automobile automobile auto auto- mobile parts increased materially Pittsburg mills advanced all wire products while In other directions prices were quito quite steady Pig iron was steady and fairly active Heavy buying of copper for foreign for for- eign olga account developed early In the week although domestic buying failed to materialize to any extent The foreign demand tapered off somewhat later but producers were encouraged by the heavy earlier sales to hold domestic prices steady at 14 8 1 cents delivered A small rally In tin early In the week failed to hold the market re reacting reacting re- re acting later with an absence of im important important im- im consuming demand Prices recovered close with offerings of of- light London was Irregular Lead averaged steady and producers producers pro pro- reported a good Inquiry for January and February shipments Reale offers of January shipment were said to be smaller Zinc was firm and consuming demand de dc- mand Improved with the Interest largely for January and February shipment positions Ore prices were maintained there also being a moderate mod mod- crate erate Increase in stocks the first half of the month Antimony prices held about un changed Some inquiry was noted for spot and nearby delivery but as asa asa a rule trade was not active