FOREIGN TRADE: Red Offensive

The Russians' campaign to capture more Western markets brought some cries of alarm last week. For many years Britain has bought 80% of its aluminum supply from Aluminum Co. of Canada, Ltd. Currently, British demand is drastically down, and Alcan's British market has dropped from 205,000 tons in 1956 to 153,000 tons last year. At the same time, Russian aluminum exports to Britain have soared from 197 tons in 1956 to an annual rate of 23,000 tons. Reason: Red aluminum sells for $510 a ton v. the Canadian price of $552.

Last week Alcan revealed that it began granting a 2%...

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