Word: zinc
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...Zinc production is down from 600,000 tons a year to 450,000 tons. The Government is now out of the market; excess stocks of 150,000 tons would permit a rise in demand of 25% without strain...
MINING SUBSIDIES of $155 million for depressed copper, lead, zinc, tungsten and fluorspar (TIME, May 19) passed Senate by such a high margin (70-12) that bill stands good chance of riding through House and becoming law this summer...
Chile's copper exports will be off some $225 million this year, pushing the country into an overall $95 million trade deficit. Bolivia, which gets about 80% of its export money from tungsten, lead, tin and zinc, whose prices are off as much as 30%, is in the same economic fix. So are such metal-producing African exporters as Rhodesia and the Belgian Congo, whose exports of nonferrous metals were hit by a 9% price decline in the first quarter of 1958 alone...
...these smoldering grudges, the U.S. recession has added new coals. Peru, for example, fears Congress' threat to raise lead and zinc tariffs, which would throw 35,000 Peruvian miners out of jobs and slash the country's dollar supply. The Communists, exploiting the anti-U.S. opening, have raised the membership of their illegal party to more than...
...Secretary Fred Seaton's plan to help depressed U.S. mining industries and also to quiet opposition to extending the reciprocal trade agreements. Under Seaton's five-year plan, which would cost an estimated $161 million the first year, the Government would pay the miners of copper, lead, zinc, tungsten and fluorspar the difference between the market price and a set "stabilization" price. To Canada and the Latin American countries that export metals to the U.S., the Seaton plan is a welcome alternative to the tariff increases they face. The increases, plus cutbacks in imports, have already stirred...