Word: copper
(lookup in dictionary)
(lookup stats)
Dates: during 1920-1929
Sort By: most recent first
(reverse)
Some months ago, when conditions in the copper business were unsettled, the trade discontinued its practice of collecting and publishing each month statistics as to the amount of surplus copper held by refiners and producers. At the time it was felt that the large copper stocks being carried simply operated to hold down the price of the red metal, and that discreet silence was a better policy than embarassing frankness, if higher copper prices were to be seen. Since the discontinuance of the monthly reports of surplus copper, therefore, only quarterly reports have been issued...
...meantime, conditions in the industry have apparently altered much for the better-although the copper business is too temperamental to admit of cocksure prophecy. Recent curtailment of production is said to have reduced output by 20,000,000 pounds from levels reached last spring. Demand has continued strong and varied. What stocks of surplus copper amount to, is now anyone's guess. But rumors in the trade are to the effect that July and August figures will shortly be forthcoming...
...beginning of 1925, stocks of refined copper amounted to 272,868,000 pounds. By July, these had shrunk 90,000,000 to 182,652,000 pounds. As for prices, copper began 1925 at slightly over 14? a pound, dipped last spring to 13 1/2? and recently has recovered to 14 1/4?. For several years the price of copper has been unique among commodity prices in that it was below rather than above pre-War prices...
During recent months, domestic consumption of copper has run about 65,000 tons a month; while the electrical industry has been taking less than previously, car-makers and railroads have been buying more. Moreover, the export demand for copper has considerably improved, especially from Germany and to a smaller extent from Britain, Belgium, Italy...
Accordingly, there is a quiet optimism present in the copper industry that has long been lacking. Thus far copper shares have not shown any great advance, and they have too often disappointed Wall Street to be readily taken up by the speculating public. Yet from the standpoint of statistics the copper industry's future appears brighter than it has for many years...