Word: ibs
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Dates: during 1980-1989
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Nelson Bunker Hunt is lying low these days, which is not easy for the 275 Ib. Croesus, whose silver market setback last month triggered Wall Street's worst panic in nearly two decades. Hunt had tried to corner silver and been badly squeezed, when prices plummeted from $21.50 per oz. to $10.20 in less than four days. Early last week Hunt was tucking into a steak dinner in the Rib Room of London's Carlton Tower hotel when a Merrill Lynch customer's man seated near by spotted him. After Hunt had returned to his room...
...metal used in jet aircraft engines as well as mining and machine-tool bits, cobalt is supplied mainly by Zaire, which has 65% of the non-Communist world's reserves. Recurrent civil wars over the past three years have kept the price dancing between $6.40 and $50 per Ib. Other producers include the U.S.S.R. and Cuba. Reports Charles River Associates, a consulting firm in Boston: "The cobalt situation is one of the most serious problems facing consumers of critical materials today...
...metal is used extensively in high-performance jets, missiles and nuclear plants, U.S. and European aerospace companies have been scrambling to buy the remaining titanium sponge produced by Japan, Britain and China. As a result, since last March prices in Europe have jumped from $3.98 to $25 per Ib...
Titanium, which is used in the manufacture of aircraft and was trading for as little as $3.98 per Ib. earlier in 1979, has been climbing steadily, in part be cause of a cut in world exports by the Soviet Union, the leading titanium producer, which needs it for domestic consumption. By last week, New York dealers were selling the metal for as much as $25 per Ib. Even copper climbed nearly 10% as speculators pushed it to a record...