METALS: No Ceiling

The Munitions Board last week removed the ceiling from prices it will pay domestic producers of some strategic materials. Previously, it would pay U.S. suppliers no more than 25% higher prices than those paid to foreign producers. The board will take off price restrictions on a few badly needed materials, will try to avoid a blanket increase. With the new high prices, the board hopes to persuade U.S. miners to develop low-grade deposits of such metals as manganese, copper and zinc, thus speed up its lagging stockpiling program.


Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!