METALS: Copper Surge

After a gloomy winter, copper investors thought they saw a few signs of spring. On the New York Stock Exchange last week copper stocks rose in heavy trading. At week's end Kennecott was up 2⅜ to 88⅞, Anaconda up 2½ to 46⅞, Magma 5¼ to 47. Behind the push was a ½¢ rise to 23½¢ a Ib. in copper price at custom smelters, which normally supply about 15% of U.S. refined copper. On the London Metal Exchange, where world prices are set and fluctuate with daily sales, copper closed at 21.75¢ a Ib., up .81¢.

Sales picked up after...

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