| Show Zinc Zin Price Situation Is Cause Of Confusion n The only disturbing development in major non-ferrous non metals last week was confusion contusion over the price situation of Prime Western zinc which was selling at nt I both 93 4 9 cents to 10 cents per pound according to the weekly market report of ot Engineering and Mining Journal McGraw Hill publication The weighted average for the week In zinc was 9 78 cents per pound AjAs for copper lead and tin heres here's w what at the publication reports I Copper remained quite active and th price was firm In all nIl directions on the basis of 2 1811 18 cents Valley Call for lead was fair so far as sales to consumers were w re concerned and the price was view view- viewed viewed viewed ed as steady Rumors that the Government Govern Govern- Government Government ment has purchased tin for its stock stock- stockpile stockpile I pile made for tor Increased caution among I bearishly inclined operators I Tho The article notes that talk of a a. tight supply situation next month was partly responsible for tor the continued high rate of activity in copper Sales booked so far for January copper amount to I around 76 tons leading producers to I Ibell believe bell eve that the months month's total will be In I excess of tons The markets market's undertone was firm and the price un un- unchanged unI unchanged un- un unchanged I changed on the basis of 18 18 2 cents per pound Valley Firmer prices prevailed for scrap Copper output of mines In the United States last l t year was vvs estimated by the Department of or Interior to be tons as compared with tons in 1948 Foreign demand for tor copper has Improved and the quotation was maintained main main- maintained maintained on the basis of 18 18 cents fas New York Lead sales in the last week totaled torts tons of which about 40 per pel cent was purchased by the Government fors for s Its stockpile The sales volume has shown some improvement compared with a n month ago which has served to steady the undertone The Governments Government's buying program has been an Important factor in stabilizing prices Quotations continued at 12 cents New York and 11 1180 80 cents St St. Louis |
