Brighter Copper

The long-expected recovery of the copper industry has apparently put in an appearance and critics of the Anaconda Copper Co. in its acquisition of the American Brass Co. and the Chile Copper Co. some months ago are now praising the step as far- sighted.

The foreign sales of the red metal for September have been about 80,000,000 pounds, compared with average monthly exports of 54,388,912 pounds in 1922 and of 50,740,670 pounds in 1921. Domestic shipments have been good. Average domestic shipments for the first eight months of 1923 have been about 129,000,000 pounds per month, which is a peacetime record for eight months and about 90% above the pre-War record.

The great improvement in the industry is due not only to the improved world-demand for copper, but also to the exhaustion of war scrap, which took place gradually during the less prosperous years of 1921 and 1922. Stocks of refined copper decreased about 5,000,000 pounds in September and on Oct. 1 were about 200,000,000 pounds.