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Show PRICES ADVANCE Oil METAL FRONT NEW YORK. Aug. CTt A new advance in the price of steel scrap In Pittsburgh Friday directed attention at-tention to strength In metal prices in domestic and foreign spot and futures markets. j No. 1 heavy melting scrap was advanced 60 cents a ton to $22, a new high since early spring. No. 1 railroad scrap was boosted 75 cents a ton to $22 750 23 25. Scrap prices are regarded as an accurate barometer ba-rometer of the health of the steel business and industry in general. With trade sources reporting little lit-tle metal available for immediate delivery, de-livery, the domestic price of sine . was marked up 14 of a cent a pound to 7.23 cents. East St Louis. Lead, copper and sine were all higher in the London metal market continuing a move commenced las? week. Heavy demand, both domestic domes-tic and foreign, was reported. Vis-' Vis-' ible stocks of both lead and sine Were said to be at low levels. July sine production, the American Ameri-can Zinc Instituts reported, totaled 49.181 short tons compared with 50,-(2 50,-(2 in June and 45.481 a year ago. Shipments amounted to 49.701 tons (gainst 50,219 in Juns and 41.819 in - July, 1934, and stocks on hand were . 13.561 tons compared with 14.081 at the end of Juns and 88,517 last year. Early sales of copper for export Were reported Friday at 14.475 cents pound, slightly higher than yesterday's yes-terday's figure. Demand was heavy In the London metal exchange. The domestic pries remained at 14 cents pound. Engineering and Mining Journal aid: "Sales of copper In the domestic market during July totaled 42.297 tons, which compares with 35,395 tons in June and 175,484 tons in July last year. Domestic sales In the first seven months of the year averaged a little under 50.000 tons a month. Orders on ths books of producers have been reduced from ' a high of approximately 400,000 tons early in the year to about 200,000 tons. This total is still regarded as ' large, but it is unevenly distributed. "It is reported that soms consum-; consum-; ers have reduced their inventories to . the point where a substantial vol-i vol-i time of business should be booked , dally from now on." |