Untitled

Hokitika Guardian, 6 September 1932, Page 4

connection with the movement to endeavour to raise the prices of commodities, the Zinc Cartel formed lost yeftT is said to represent 60 per cent, of the world production outside of the United Btute’s, the Tin Pool > includes all the chief producing States, and the agreement regarding copper covered practically the producing interests in the world. The methods adopted with. 'regard to the production and marketing of the various metals have, differed widely. The copper producers set out last year to reduce output to about 26 per cent, of capacity, but this course was t adversely criticised as it gave-a quota to mines that were costly to run and which, under ordinary competition, would'have bad to close down. The; zinc industry reduced stocks rapidly, from 206,000 metric tons in July, ,1931, to 176,C00 tons at the end of vMarch 1932. The tin producers formed a pool that now holds 121,000 tons, and the restriction of production was estimated to bring the total down to 67,000 tons by the end of June next, | The results of these efforts are, seen in the hardening of prices on the London metal market in the past year. In every, instance a,n advance has been recorded, ranging from 22s 6d in the case of lead to £2B per ton in the price of tin, and, in the aggregate, this improvement must reach a very larsre sum. By international action the non-ferrous metals have affected a' partial recovery from the low price level ruling some months .ago, and while' the'’methods- adopted- 1 may not be applicable to all branches of production, .it : should not be beyond the powers of the nations, by a co-opera* five effort, to oiiRUMi the mime results in other directions and thereby help to bring about a better opportunity for the furtherance of an increased trade. V