Copper Mysteries

When copper producers were questioned last week about July output, sales and stocks of the red metal, a blank silence resulted. Previously these figures had been made available each month, and the new policy of concealment was therefore a drastic change from that pursued before.

Behind this reticence of copper producers as to the vital statistics of their business lies a grievance against the leading buyers and manufacturers of copper. The latter, it is claimed, have right along been unwilling to put their cards on the table by revealing their requirements, yet they have eagerly used the producers' figures. As long as a condition of overproduction of copper existed, this unequal situation was greatly in favor of the manufacturers, who could use their knowledge of the non-fabricated copper market to obtain the lowest possible prices on all occasions.

Lately surplus stocks of copper have been considerably reduced, demand has improved, and the producer is beginning to be favored by economic forces in the industry. On the theory that every dog has his day, the copper producers apparently intend to secure highest possible prices for their output, and to meet mystery concerning the demand with an equally dense mystery about the supply.