Business: The Squeeze in Copper

The nation's copper industry last week was caught in the tightest squeeze of its history. Warning that inventories were depleted "almost to the vanishing point," three leading trade groups hammered on Washington's doors asking for a personal meeting with the President. They wanted him to release 100,000 tons of stockpiled Chilean copper, summon a special session of Congress, if necessary, to do so.

Since by law the President can release copper from strategic stockpiles only after declaring a national emergency (which legally requires either war or a threat of war), a special session would be needed to amend the law and free...

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