A wave of buying broke over the copper market fortnight ago. In three consecutive trading days 41,000 tons were sold, equivalent to the output of all U.S. mines for two months at current production. Reason: domestic producers had notified the sales clearing agent of the Copper Code Authority that they were about to raise the price of copper from 8½¢ to 9¢ per Ib. Last week as the new price went into effect, sales slumped off considerably. Not in three years had coppermen been able to get 9¢. When President Roosevelt took office they...
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