MARKETS. longer as important as they were in years past. Prices for the fungicide also engaged in a steep climb during the postwar years which may have had Domestic price rises to 3 3 cents as w o r l d markets some relation to its consumption here grow apprehensive over supply — exports o f metal restricted and abroad. Its cost was as low as 2.7 cents per pound in 1932, and 5 has been reduced t o 75% for the two cents during the war years. Quotations THRICE advances in copper are not con* s i d e r e d happy events for either the dominant American interests, Ana- rose close to 9 cents in 1 9 5 1 - 5 2 . As a result of the newest 3-cent boost producing or consuming industries. conda and Kennecott, with slight reHigh-cost metal brings out competition ductions from this rate allowed on in- in the metal, sulfate thi? month w a s advanced to 1 1 V 4 cents per pound, and from other materials like aluminum in creased production. upward adjustments were made other But in no instance will the United electrical work. Copper fungicides and insecticides now have formidable States interests be able to get it down chemical derivatives. Copper cyanide, competitors in the newly developed below 7 0 or 71%. A Santiago dispatch important in electroplating processes to the New York Times on Feb. 7 indi- and intermediates, was moved up from organic compounds. Nevertheless, copper was advanced cated that the Chilean president might 61.0 cents to 65.7 cents per pound. 3 cents per pound by the larger pro- veto the measure because it sets up a The carbonate, used in pigments and ducers a few weeks ago, sending the form of copper control within the Cen- insecticides, became 28 cents per pound domestic price to 33 cents per pound. tral Bank of Chile instead of with an instead of 2 6 . 3 cents quoted formerly. The hydrate and anodes were advanced Anaconda Copper made an announce- institute. Our total annual copper supplies, im- three cents. ment to this effect on Jan. 27, and it Sulfate Supplies. According to was followed on succeeding days by ports plus domestic mine and secondPhelps Dodge, Kennecott, and others. ary production, have ranged above and trade reports the amounts of unsold Incentives for the advance were sup- below 2 million tons. Our require- copper sulfate on hand at this time are plied by the London market where ments aggregated 2 . 2 million tons in down appreciably, due to an improvetraders view the copper situation from 1952, of which somewhat more than ment in exports to Latin America as 1 million entered the fabrication of well as to lessened production. Those a world standpoint. brass and bronze products. Copper who derive sulfate from scrap copper Although London's advances were called unrealistic here, traders there wire and rods for electrical took over are said to be encountering more diffievidently felt that events in Rhodesia, 700,000 tons, and pipe and tubing, culty in acquiring their needs in the uses, secondary metal. the United States, and Chile, all im- 170,000 tons; miscellaneous About 2 5 % of copper sulfate producportant producers, were contributing to 270,000. Chemical Uses. Chemicals, for the tion in recent years has been accounted a supply shortage in copper, although mine outputs here are rising. On Feb. most part copper sulfate, carbonate, and for b y copper refineries which employ 10, the London price had zoomed to salts produced from both primary and ores in this operation. Remainder is 360 pound sterling per ton, equivalent secondary copper, ores, required about derived outside of refineries, largely to about 44.75 cents per pound in 26,000 tons of the metal. Production from scrap. T h e actual copper content of the sulfate reached its best levels in of sulfate derived from the ore has U. S. currency. Exports Curtailed. A strike of long 1945-46 at about 130,000 tons an- averaged about 6000 tons. As to refined production, domestic duration has cut rather heavily into nually, since then has dropped well bemines have been operating since July production of Rhodesian mines, where low 100,000 tons. the African workers are demanding pay Our export markets in Latin America 1954 without labor difficulties. Enincreases reported equal to 50 to 3007c and Europe for the sulfate are no forced shutdowns earlier in the year, however, explain the total of only 754,An idea of the importance of the cop897 tons for mine production during per industry there will be seen in that the first 11 months of 1954, against ore reserves of one company alone, Table I . R e f i n e d Copper Stocks 849,108 tons in the same period of Roan Antelope Copper Mines, Ltd., ( U . S., tons of 200O pounds) 1953. Stocks of refined copper in are 91 million tons. 1947 November fell to the lowest point in 76,035 Government regulations in the 1948 96,080 years at 3 3 , 2 9 0 tons; since then have United States and Chile are reportedly 1949 116,027 improved (Table I ) . curtailing supplies of copper for in1950 49,040 Largest Competitor. As the major 1951 71,528 dustry. In this country large tonnages competitor of copper, aluminum has 1952° 58,858 of the metal continue to move into the 1953 89,193 not behaved as well as it might. Its stockpile, and the industry as well as 1954s producers have been forced to raise the Government are showing real conJan. 108,121 prices twice over the past year, and cern over copper supplies. As the reFeb. 118,417 there have been complaints of supply March 125,759 sult of a meeting on Feb. 8, a temApril 124,523 shortages. These are b y no means as porary embargo was placed upon exMay82,111 serious as in copper. Last year's aluports and quotas were re-established June 69,181 minum production was 1,461,000 tons on shipments of the metal out of the July 68,921 and the industry's spokesmen contend Aug. 58,387 country. Sept. 47,666 that civilian, military, and stockpile Chilean Tax Reduced. In Chile, Oct. 33,290 needs for t h e light metal are being met where copper production is 90% acNov. 37,094 through capacity operations. counted for by American companies, Dec. 47,108 a Price advances have brought alumithe congress took action at the start of Beginning with May 1951, the totals include copper delivered to U. S. fabricators at foreign num to 2 1 V 2 cents per pound, a level the month toward easing the heavy tax ports. which is l 3 / 8 cents under that of the burden on these concerns. The Chilean Source: Copper Institute. cheapest European producer. levy of 85% of gross operating revenue
Copper Trend Again U p w a r d
812
CHEMICAL
AND
ENGINEERING
NEWS
W E E K ' S PRICE CHANGES —
ENDS
PREVIOUS
% 70.50 $ 70.00 Bonemeai, dom. ton Casein, Argentine, lb. 0.23 0.22V* Copra, coast, ton 180.00 177.50 Copper anodes, lb. 0.50 0.47 Copper carbonate, lb. 0.28 0.263 Copper cyanide, lb. 0.609 0.657 20,000 lb. or m o r e 0.619 0.667 1,000 t o 1 9 , 9 0 0 l b . 0.639 0.687 100 t o 9 0 0 l b . 6.50 Dried blood, unit 6.75 E g g albumen, lb. 1.63 1.58 Flake 1.67 1.62 Powdered 1.15 1.05 E g g yolk, lb. 3.39 * Geraniol, lb. 3.10 0 . 0 8 »/« Grease, white, lb. O.OSVe 7.15 Hydroxycitronellal, ib. 6.50 M e n t h o l , lb. 8-00 Brazilian 8.25 Japanese 18.50 17.50 a 8 . 7 5 7.85 Synthetic laevo 0.22 M o n t a n wax, G e r m a n , lb. 0.19 Myrobalans, ton J-No. 1 55.00 50.00 70.00 65.00 Crushed Oils, l b . 0.14 Coconut, tanks, N.Y. 0.13Ve Corn, crude 0.131/2 0.13V4 Cottonseed, crude, So.E. 0.13V4 0.13Ve Linseed 0.124 0.122 Peanut, crude 0.18 0.18lA Soybean, crude, Decatur 0.12V4 0.12 Va T u n g , crude, mills 0.23 0.22V* P o t a t o starch, Maine, lb. O.O6V4 0.06 Tallow, fancy, lb. 0.08Vs O.OSVs Tin, metal, lb. 0.92 0.90V4
a
W R I T E for Catalog D-202 and a dem onstration. Bausch & Lomb Optical Co., 74833St. Paul Street, Rochester 2, Ν . Υ.
RA^JStSHm 1ΘΜΒ
REFRACTOMETER 0.40V2 0.431/2
0.44 Vs 0.441/2
2.75 0.80
2.85 0.82
ORGAN MItlROlIiEiifK
0.29 0.21V4 0.51 V2
0.221/Î
0.13V4 0.091/4
0.14 Ο.Ο91/1
0.16 0.Ï4V2
O.I6V4 0.14'Λ
0.561/4
m
LUPERS0L* DDM
64.50
60% METHYL ETHYL KETONE PEROXIDE IN DIMETHYL PHTHALATE
Nominal.
mmm
WATER WHITE LIQUID
Rohm a n d H a a s Co., Philadelphia, r e d u c e d ethyl acrylate monomer 4 cents per p o u n d , and methyl acrylate monomer 1 cent per pound, effective F e b . 9. Lower prices follow larger volume operations at acetylene-based plant at Houston, Tex.
1 1 % ACTIVE O X Y G E N L O W TEMPERATURE CATALYST FOR POLYESTER RESINS
Shell Chemical Co., N e w York 17, issued new price schedules for resins a n d plastics, solvents, and industrial chemicals, d a t e d F e b . 7. Products affected include methanol, cyclohexane diethylenetriamine, E p o n a d hesives, a n d o n e E p o n resin.
WAREHOUSE STOCKS CONVENIENTLY LOCATED THROUGHOUT THE COUNTRY •REGISTERED
Tennessee Products a n d Chemical, New York 1, issued n e w price schedule F e b . 11 for t w o of its Benzoflex plasticizers, dibenzoate ester of dipropy lene glycol a n d diethylene glycol di benzoate. VOLUME
3 3,
NO.
"oZ&e-Jo"
Always dependable for faster, easier readings—accurate to ± . 0 0 0 1 — o f any liquid or solid i n the 1.30 to 1.71 in dex range. Longer life, less interrupted service t h a n any other Abbe-type in strument. Streamlined h o u s i n g protects scale and internal parts from dust, dirt, fumes, liquids. Special p r i s m cement, u n h a r m e d by food acids or organic compounds. N o time lost for prism surface r e c o n d i t i o n i n g — s p a r e prism set ( o p t i o n a l ) , readily interchange able by user» Free on-the-job demon stration; no obligation.
Declines Acrylates, lb. Ethyl Methyl C a u s t i c soda, solid, f.a.s., cwt Cocoa butter, lb. D i b e n z o a t e e s t e r of dipropylene glycol, lb. G u m arabic, a m b e r sorts, lb. G u m t u r p e n t i n e , So. gal. Oils, l b . Castor, Brazilian, lb. Menhaden, crude, Bait. Oiticica Drums Tanks Soybean, meal, Decatur, ton
LOSSES
Bausch & Lomb America's most w i d e l y used ail-purpose refractometer
February 14, 1955 CURRENT
I WN-TIME
8 ·
·
FEBRUARY
WALLACE 2 1,
1955
TRADE MARK
L· OS V I S I O S^„Jff-^
& TiERNAM INCOSIPQRATED BUFFALO S, NEW;*yQRK
813
