OCR Text |
Show (X)PPER SURPLUS REDUCED The surplus of refined copper in this country, which in the spring of 1921, was close to 750,000,000 pounds, has now been brought down to well under 300,000,000 pounds a reduction of 450,000,000 pounds in 18 months. The refinery output of copper In October was the largest for any one month in over three years. There is pouring from our refineries, treating the copper output of Nortli and South American mines, an amount of copped cop-ped equivalent to 2,000,000.000 pounds a year. There is every indication that the output of North American copper this year will total 1,650,000,000 pounds. Exports should total 725,-000. 725,-000. 000 pounds and shipments to domestic do-mestic consumers 1.200.000.000 pounds. This means that in the past 12 months the surplus at the refineries refin-eries will have been cut by 275,000-000 275,000-000 pounds. |