wv —_ ne Prictof Copper’ Retreats SOF Ta Lowest o-Year Mark le By Associated “NEW YORK, | THE SITUATION is obvious Press Jan. 18—The from Copper Institute statistics price of copper fell to its lowest for December. They show U.S.| level in nearly five years this week. age The red py metal, producer shipments of 80,641 | tons, the smallest for any month regarded in since July 1955, and a drop of some circles as a barometer of 26,158 tons from November. business conditions because of) For all 1957, shipments to its. wide industrial applications, American industry totaled 1,270,was cut to 25 cents a pound by 898 tons, a drop of 13 per cent major producers, a 2-cent drop from 1956’s 1,465,999 tons. from the price September.. last eral established Custom smelters, U.S. producers of their Sev-| cut output mines, but production striving to, maintain competi- for the year of ‘1,115,483 tons tive advantage, immediately was down only 1.6 per cent from shaved their price 44 2412 cents a pound. . cent : to THAT’S THE level copper was pegged at during 1956's 1,133,184 tons. Foreign shipments on the other ord hand, 1,579,166 the Korean tons. i for tons, Foreign 1957, were a, recup 212,187 mine production When controls were re- also seta new high of 1,783,119 |. Jaxed in February 1953, the price |tons, a gain of 53,414 tons. : went to 274% cents a pound and) AMERICAN | | PRODUCTION War. gradually rose during the boom to 1956’s pound. The peak reasons reductions those of behind were for 46 seven the : the latest same previous in 1958 will be affected by the| — a recent cut of 3,800 tons a month). cents by Kennecott Copper Corp., just as foreign production will — feel as the drop of 4,000 tons a month cuts called for by Chile at mines}, as the major produeer price owned by Kennecott and the): dipped nearly 50 per cent end Anaconda Co. in addition, Union of the market Miniere Du ree factor in the price} cuts by major producers was the} BEFORE YOU BUY spread between their charge and NY NEW CAR ROWNING’S DEAL NEW BUICK! the London Metal price, which had been o cents. Even after tion here, the LME too, so that the Exchange more than} the reduc: price fell, difference was still around 3% cents. LEAD AND ZINC were un- ehanged in price with lead sell- ING, INC, agr! + Otte ehee ing at 13 centsa pound New ° KO made : =" Another 7 be tn © ote? nee recom-| to NWA oo sn, o> +. yet roe Reg Safe ae _ see eens government’s mendation, “| effective. 24 ticularly in the United States. og increased steadily nounced has fallen off, par-| Chilean ict copper have and demand oY Haut Katanga, big Congo producer, analong the lines of the Oe other segments fell more than that. Supplies of Belgian min _. fi | York and zinc 10 cents a pound East St. Louis. Foreign prices. were more than four cents a pound cheaper for lead and! ,.