SENSATIONAL RISES

Taranaki Central Press, Volume IV, Issue 367, 23 February 1937, Page 5

SENSATIONAL RISES

PRICE OF METAL

SHARP ADVANCES.

Due To Rearmament Programme.

Press Association—Copyright. London, February 21.

Sensational rises in metais prices, accompanied by almost unprecedent ed activity, have been one of the most important repercussions of the Government’s rearmament programme. Simultaneously gilt-edged securities last week continued a downward course, passing the Worst since 1931. Nearly 25,000 tons of metal to the value of well over £1,000,000 changed hands on Friday. The flood of speculative buying carried copper, lead and spelter to the highest level for years. Tin, which was neglected early in the week, jumped by 170 s a ton. Some quarters are concerned at the .rapid rise in prices', but the market , as a whole considers that the peak has not yet been reached. The United States export price of copper has been fixed more than 117 points higher than the recently established domestic price. It is believed that America will require to import spelter in the near future. The buying of tin appears to have been purely professional, based on the belief that it was undervalued in relation to other metals.

(Day by day metal quotations appear on page 6. A comparison is also given of prices a month ago and those of a year ago).