Word: copper
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Dates: during 1950-1959
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...help hard-pressed U.S. copper producers, suffering from a copper glut that has depressed prices to 25? per lb., the Government last week threw its weight behind a Senate bill that would restore copper import taxes which have been suspended (for all but nine months) since 1947. The Government's endorsement, made by Secretary of the Interior Fred Seaton, was a victory for Western miners and protectionists, who have stepped up attacks on the suspension since copper began to slide badly last year. If the bill goes through-and Administration endorsement makes it almost a certainty -all copper imports...
Died. Roy Henry Glover, 67, chairman of the board of the Anaconda Co.. world's No. 2 copper producer (after Kennecott Copper Corp); of a heart attack; after attending a State Department dinner in Washington...
...producers are unhappy about the price cut, feel that it will not bring in many new customers for aluminum. But Aluminium's President Nathanael V. Davis disagrees. He feels that when demand is soft, a price cut may help aluminum expand its inroads into other metals such as copper. "This." he says, "will encourage engineers and manufacturers to design their products for more aluminum, and thus will open up new applications for our product...
Sales picked up after Anaconda's Roy H. Glover announced that his company was taking no new orders at current prices in Europe, where demand for copper is still strong. Almost all of Anaconda's scheduled 1958 production, plus the carryover of copper from last year, has been sold. Kennecott has also stopped selling domestic copper to Europe because, said President Charles R. Cox, "the copper is worth more in the ground...
...this the anticipated turn in copper prices? Copper analysts think not-at least not yet. The last ½? hike at custom smelters, in December, lasted only three weeks when the price dropped back, subsequently fell 2? more. Demand is still sluggish at the 25?-a-lb. level asked by major domestic producers, and Western Congressmen are still talking about a sick industry and pressing for a 4?-a-lb. tariff, placing the "peril point" where the tariff would go into effect at 30? (TIME, Feb. 10). While producers feel that the users' inventory liquidation is about over, higher copper...