OCR Text |
Show COPPER SALES HAVE fe BEEN HEAVY Of LATE While there has been no newi regarding regard-ing aveles uf copper for several dsvs, the estimate made on the purchaees on Friday Fri-day and Saturday of laat week and Monday Mon-day of this a eek Is placed at eO.000,000 pound. Most of this was sold at II cents. Most of this was for export ac count, t hough home ronsumsrs took a large amount on Monday for the manu-lacturers manu-lacturers The Amerlcsn Smelting company Is reported re-ported to have been offering electrolytic copper at J4 cents a pound In London, and the buying was restricted even at this offering for a time. A large amount of copper fs expected to be sold this week, end some of the largest selling agencies sre holding out for ID cents. The buying thus f i has been largely for Kebrusry deliveries and a large amount for March la yet to be purchased. Some of the big producer that have been forced to carry their copper are reported re-ported to have about (leaned up their surplus stocks One authority says that the porphyry mines have no surplus metal at this time. The unexpectedly heavy increase In Hamburg and Rotterdam stocks on February irrover the supplies eslatlng at the first of the month, was due ehlefly to heavy ehlpmenta of unsold copper some weeks earlier by big producers. |