Word: copper
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Dates: during 1960-1969
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...Anaconda prospered on high world copper prices and swelling U.S. demand. Through a nearly strike-free year, the company's sales surged to ten figures ($1.2 billion) for the first time, while earnings swelled by 67% to $132 million. In the fourth quarter, profits rose 116% over the same period...
...important reversal" in orders for its once slow-moving 2400 copier, earnings outraced increasing costs. Though the year-long gain was nothing like 1965's 47% leap, Wilson seemed almost embarrassed. Some time in the future, he warned, "our percentage rate of growth must, of course, diminish." - Kennecott Copper, one of the three biggest U.S. copper producers, turned a first-half slump resulting from strikes in Chile into a booming year with profits up 22%, to $125 million. Thanks to heavy Pentagon orders and higher prices abroad, Kennecott is well polished for its upcoming $466 million merger with another...
...year-old Commodity Exchange, which also trades in copper, tin, silver, lead, zinc, hides and rubber, hopes that quotations stretching up to 18 months in the future will help to level off mercury's price swings. Though gamblers may now play the mercury market, the chief advantage of futures trading falls to big mercury users. They can buy ahead if prices seem to be headed up, need pay only $500 per contract until actual delivery. If they hold large inventories, they can sell to hedge against the possibility of losing money on falling prices...
...investigating the scene too. One visitor last week was Eastern Air Lines President Floyd Hall, in Djakarta to talk about the possibilities of a joint operation in the islands with Garuda Airways, the national airline. U.S. Steel is contemplating nickel mining in West Irian, Freeport Sulphur is surveying copper prospects, and no fewer than 19 companies are competing for the right to drill for offshore oil around the big islands of Sumatra, Java and Borneo...
...about it, the Administration has pretty well exhausted both its stockpiles and its powers of persuasion. Industry, meanwhile, has learned to be more prudent. This time round, a number of the companies consulted with Washington before raising prices, then kept the increases relatively modest. And, as Ackley admitted, the copper, molybdenum and aluminum producers had patiently "held back price increases for periods ranging from six months to more than a year...