OCR Text |
Show 1 Apparent consumption gained 40 per cent over 19.i9 and broke all previous records. Stocks of refined copper fell 12 per cent in 1940 and those of unrefined materials 6 per cent. Total smelter and refinery stocks were, with the exception of 1936, the smallest on hand since the end of 1928. Considering' the heavy demands made on the copper producing- industry in 1940, particularly late in the year, price fluctuations were of a minor character. The average weighted selling price was 9 per cent over 1939. Since the beginning of the present world conflict large quantities of regulus or coarse Copper have been received from Belgian Congo, Con-go, and British South Africa; imports of unrefined un-refined and refined copper from Chile have advanced sharply; exports of refined copper to Germany and the countries under her domination, formerly of large proportions, have ceased; exports to U. S. S. R. have jumped from none before the war to such maenitude that that country stood third in 1940 as a destination of refined copper exported ex-ported from United States' plants; and Japan took largely increased quantities in the lattei nart of 1940. COPPER Smelter and refinery output of copper from domestic ores in 1940 were at the highest high-est levels attained since 1929, surpassing the record for 1937 by 10 to 15 per cent, according accord-ing to the Bureau of Mines, United States Department of the Interior. War conditions abroad disrupted international trade movements move-ments and larger quantities of crude copper materials came to the United States for refining re-fining and fabrication. Imports oc copper in unmanufactured form were about 40 per cent above 1939 and were larger than in any other year since 1929. F.xports of metallic copper were probably a little higher than in 1939 and the largest recorded since 1929. |