SPECTACULAR RISES
RAW MATERIALS HECTIC SCRAMBLE. Higher Commodity Prices. Press Association—Copyright. Received 10.55 a.m. London, March 11. Spectacular rises in tin have taken the market by surprise. The total turnover in four base metals yesterday represented £1,500,000. Some operators are believed to have made large fortunes. Rubber was again higher. The increasingly hectic world scramble for raw materials is evidenced by a German Decree controlling supplies of iron and the stoppage of exports from Belgium.
The British Iron and Steel Federation is negotiating with the Soviet for the immediate purchase of 500,000 tons of iron ore, valued ait £2,000,000. The excitement has extended to wheat and cotton. While reactions from time to time are inevitable, the general opinion is that higher commodity prices have come to stay. City business men express the opinion that one happy aspect of the rise is that it makes it more difficult for Italy and Germany to carry out their dangerous rearmament schemes.
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Taranaki Central Press, Volume IV, Issue 381, 12 March 1937, Page 5
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158SPECTACULAR RISES Taranaki Central Press, Volume IV, Issue 381, 12 March 1937, Page 5
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