Word: zinc
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Another reason for boosting stockpiles is that the Administration is being forced to buy up more stocks of copper, lead, zinc, tin, magnesium, tungsten and other metals than it had planned. While the fighting was on in Korea, the Truman Administration encouraged expansion of domestic mineral and metal products beyond normal needs by guaranteeing a market for much of the extra output. The guarantees served their purpose. But when demand slacked off and prices fell, the Administration had to buy up the surplus. It either had to raise stockpile limits or dump excess metals on a shaky market...
Salt of the Earth tells the story of a strike of Mexican-American zinc miners in New Mexico. The miners want the same pay as the "Anglos" who do the same jobs at other pitheads; and their wives want plumbing for the huts they live in on company property. The company refuses to negotiate, wins an injunction forbidding the miners to picket. They stop-and the women start. At this unexpected development, the police don't know quite what to do. First they try pushing. Then they use tear gas. The women cannot be moved...
...another group of commodities came surprisingly similar news: the nonferrous metals, long in a downward spiral, were suddenly perking up. In an unexpected spurt of buying, lead prices rose for the first time in eight months (to 13? a lb.), picking up ¼? a lb. for two days running. Zinc jumped ½? to 9¾? a lb., its first rise in more than a year. Tin, tacking on a nickel, shot up to 93? a lb. as purchases were stepped up. Judging from the metal futures markets, which last week scored the biggest gains in years, metal speculators figure...
Here the progress has not been so good. The list of the 68 deficient categories ranges from commercial aircraft to zinc. While it covers many vital raw materials that are likely to become short at the outbreak of war, it also includes such important capital goods as locomotives and tankers that are needed in the long-range execution of a war. Among the worst laggards on this list are taconite, 70% behind the goal; titanium, 50% behind; freight cars, 31%; diesel locomotives, 39%; ocean-going ore carriers, 97%, tankers, 74%. The trouble is that in most of the laggard categories...
Congress has already rejected one such measure. But the industry is in such a critical state now that Congress will have to make a more basic decision: whether the nation's lead and zinc mining industry is more-or less-essential than the Administration's goal of lower tariffs and freer trade...