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Show HAS LEAD REACHED ITS LIMIT? In spite of the fact that ull lead producing mines of thi country, and of the whole world for that matter, have of lute years been operated at maximum capacity, and in spite of a frenzied hunt for other sources of supply, evidence seems to be accumulating accumu-lating to prove that the expected shortage may be upon us even quicker quick-er than some of us thought possible. Referring to the invaluable statistics statis-tics of American Bureau of Statistics, Statis-tics, we notice that during; the first seven month of this year estimated receipts of lead in ore by United States and Mexican smelters reached a total of 384,417 tons, or an average of 64,916 tons per month. . If the same ratio is maintained during the last five months of the year, total production from these sources will ap proximate 658,992 tons. From the same authority it is learned that receipts by these smelters smelt-ers during 1925 reached 680,602 tons, or, an .average of 56,716 tons per month. Thus, indications point to a reduced tonnage this year of 21,610 tons. ( Stocks in lead, in all stages of reduction, re-duction, in the hands of these smelters smelt-ers on August 1 reached 118,697 tons, of which but 18,920 tons was in refined re-fined form. In other words, stocks of refined lead available at that time were less than three per cent of the total production of 1925. In our opinion thse figures justify the prophecy we have" often made that the threatened shortage of lead is eminent and likely to become very stringent within the next few years. There seems to be no possibility of serious price declines under these con. ditions and producers of this continent contin-ent are undoubtedly in for a long and very profitable era of operation. We should not be surprised to see 'a ten-cent ten-cent market develop before the end of this year, and if it comes we also exr pect to see the new levels maintained indefinitely. |
