Copper Cut. Sales of copper during July were larger than June because of its cut to 11¢ per Ib. But the end of the month found stocks of all copper on hand had decreased only 6,346 tons from June's figure of 570,596 tons.* The situation obviously was still unadjusted. Last week readjustment came with a slash that brought copper to 10¾¢ per Ib., the lowest since 1902. Few companies can make money with copper at this level; hence production is likely to dwindle down to demand. Even low-cost producers will not find 10¾¢ a...
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