Average metal prices for March, 1937

Title

Language

English

Source

The American Chamber of Commerce Journal Volume XVII (Issue No.4) April 1937

Year

1937

Subject

Metals -- Prices

Rights

In Copyright - Educational Use Permitted

Fulltext

April, 1937 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 33 regard the present declines as a natural “shake out” after the recent sharp rise of prices. The original cuts in copper, lead and zinc prices were made in Europe where speculation has been much heavier than it has on the American markets. Previously, domestic prices had been steadily advanced to keep pace with the sharp gains on the European markets. When European speculators became frightened at the high price levels they began unload ing, thus forcing prices downward. The price reductions in New York and St. Louis were then scaled down accordingly. Tin has been subject to heavy speculation during the past month due to uncertainties over the actions of the Inter national Tin Committee which met in London. For a time, tin prices soared dizzily in the belief a shortage of available stocks was likely. Then the committee lifted the tin quotas wore inereased to 110 per cent of standard tonnages for the second quarter and tin prices dropped sharply. They later rallied when the belief spread many producing areas would be unable to fill their quotas. Straits tin on New York for March brought an average price of 63.04, up more than 11 over February. Malayan production of tin in February totaled 5,154 tons, or 841 tons under the permitted quota. Stocks of tin ore at Malayan mines on Feb. 1 totalled 4,359 tons as compared to maximum stocks permitted of 21,034 tons. Quicksilver, antimony, cadmium and aluminum all advanced modestly in line with other metals during March. Inter national Nickel Co. of Canada this month reported 1936 net income increased 41.1 per cent over 1935 to a new all-time peak of §36,865,525 as the result of steady gains in nickel, copper and platinum sales. Nickel sales increased 14 per cent, copper gained 14 per cent and platinum sales increased from 128,874 in 1935 to 220,980 last year. The outlook for the present year is even better than the 1936 record, according to Robert C. Stanley, president of the company. Average Metal Prices For March, 1937 {By United Press') Gain or Loss Copper from February Electrolytic, Domestic, Refinery........ 15.775 + 2.348 Electrolytic, Export, Refinery............. 16.590 + 2.762 London, Standard Spot....................... 72.339 +13.114 London, Forward................................... 76.167 +12.154 Lead—New York................................... 7.190 + 0.951 St. Louis..................................... 7.040 + 0.951 London, Spot............................. 33.027 + 4.708 London, Forward....................... 32.979 + 4.651 Silver and Sterling Exchange Silver, New York, per oz....................... 45.130 + 0.380 Silver, London, pence per oz................. 20.677 + 0.594 Sterling Exchange, “checks”................. 488.8412 - 0.4658 Zinc—St. Louis, Spot........................... 7.381 + 0.916 London, Spot.............................. 33.188 + 8.066 London, Forward....................... 33.405 + 8.083 Tin—New York, Straits..................... 63.040 + 11.028 London, Standard Spot............ 282.988 +49.238 Gold, per oz., U. S. price........ $35.00 Unchanged Quicksilver, per flask................ $91,778 + 0.778 Antimony..................................... 16.375 + 1.812 Cadmium..................................... 101.667 + 11.667 Platinum, Refined, per oz. . . . $58.00 - 6.364 Aluminum, 99%......................... 20.00 + 0.50 M anganese Standard Spot, ferro-manganesc, 80% 80 cents Unchanged Chromite 45 to 48%, long ton C.I.F. Atlantic. 85 cents Unchangr d OPTIMUS LANTERNS THE NIGHT SUN Radiant Illumination at low cost The Ideal Lamp for Mines, Centrals and Plantations Sold By All Dealers DYBUNCIO&CO.,INC. Head Office: 191-213 Muelle de Binondo Manila, P. I. Sole Agents: REAL SMOKERS PREFER THEM KEGICS TABACALERA CIGAR TELEPHONE 2-25-77 IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL

pages

33

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