Word: copperizing
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...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...
Ackley apparently spoke more in sorrow than in anger-and this seems to have been the pattern in recent metal price hikes. When the leading U.S. copper companies, which had also been pressured into rolling back price hikes in 1965, announced 2?-a-lb. increases two weeks ago, Washington merely grumbled. Thus encouraged, nine steelmakers last week followed Jones & Laughlin Steel Corp.'s earlier lead in raising prices on tubular products by averages of 2.5% to 3%. At the same time, the price of molybdenum, an alloy agent used in strengthening steel, was raised 3.7% by two leading producers...
...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...
...would be an agreement by Union Minière that the nationalization was the legitimate action of an independent nation, and by the Congo that compensation is a part of any legitimate nationalization. If that should happen, Union Minière could probably be recruited to continue marketing Congolese copper at a healthy profit to itself. If an agreement cannot be reached, the Congo is in for some hard times...