Document OEyXZBxJweBzG2V4dpDDbD9Xw

-----..................................... -------------------- --------------------- Ml iHm LIA20186 0 R, L ImJ ItiMtrM AimiMm MAJOR METALS "M, lewd m/m m/^/ dwrn m 4* I* 54XW If* /r*n /lr*/ 4*1/ / itir." COMTWV WO-ID OVtatt PHY COm* bmed with a moderate decline ill co#> HNBflkA pm cftowfh ptctwre o the donsrttic kid irwiikrt lo Weak the price during 1937 liom 16c per lb New York lo Ik. drip'1* continued eubetiotiil Government stockpile pur* diua The lower price brought about Mm production curtailment bie m the year. However. 11 import* In creased tubeuatufty end (he domestic Irtd mmiog industry appealed f* higher unfit. The London Metal Ex change price fcfl below parity wh New York even allow mg for the mattmom tariff increase wh*ch may be imposed. Reunctaom placed o# the barter proffam reduced the amount of fore ipa WaJ bought foe stockpile under due program aa the >ear pro* pnml, but purehave* of domestic lead for Mockpde continued. fflartpnht The U. 1 Government coodnued it* policy of the last few yean of buying domestically produced had for the stockpde. Such purchase* mn|ed about 7.000 tpm throughout 1997. Abo, late in 1996 it made sub stantial acfcufn of surplus ,igricullural coownodttm for foreign lead for die stockpde and thia continued into die fnl few nooib of 1997. Al that lime stringent restriction* were pbced oo the banrr program which aft but pul a atop to the acquisition of lead through barter and Uu* method of re* moving surplus trad from the market. It is estimated that tome 150.000 torn were added to stockp-W alto* pettier in 1997, bringing the total mi stockpile to substantially more than consumption m the US In any past pear, peace or war. On the other hand the Rrilid gov ernment announced that it would dn pose of *0,000 iom of lead from it* stockpile. Tbta naturally had drprev nog effect on the market aince the announcement came in October when the market wae wreak anyway. Origin* ally d announced that it would drv poee of 3.000 tpm Karting with December but this wa later changed lo 1.200 tpm for tuc ffrst sU month* of 1931. tv 7,200 tons in the sis* month period. Pike. With the support of stock* pb purchase* the New York price of Wad renumed remarkably stable at 16c per fe (ram Ian. 19, 1954 to May 9. 1957. May ........................... 19M May 17............................ II 00 Jmw II........................ 14 06 On |4.......................... fl90 Drc. 2.........................................Il o. o hihidii of trad from U5 sinn was lowe. than 19<4 by about 9%, most of Ihrt ct ta.lment taking place in the UK quarter of the yea. There can be little AvuN but that curtail ment was posIftetcdL both here and abroad, by the Government stock pd* big pohoev Secondary production aKo was sl>ghtfy lower by about 3* or 4T. Imports of ore and concentrum were np moderately by about 5^ but imports of metal increased substanti* ally by about I64*. Total wnporti thrrrfoee were up about 11*1, sod accounted for nearly JO** of the total US Wad supply in 1957. thus total tuppltf* of Wad in the U. S. Uu year were slightly higher dun m 1954. An mcrcase during the year of some 29.000 lone in pro* ducer's slocks made the net available for consumption and stockpiling al* most identical **h the year before. Consumption by industry showed deebne of about 6% to around 1,135.* 000 loos, of which about 5.000 tom was taken care of by a reduction of manufacturer*' and secondary smelt* ers* stocks. With supplies at 1410.000 tom, this Wft about 110.000 tone for stockpiling and unaccounted for. Tariffs. For several years the Ad* ministration in Washington nad been working oo a long-term minerals pro gram which was prevented to Congreve m 1997. Among the recommendatom presented was one for a sliding Kale tariff or etcise Us oo Wad. the Us to increase by steps aa the price de clined and lo be eliminated entirely arisen the price wa* above certain level. Bill* to that effect were intro duced in both hotnr* of Congress, but after Committee hearings, oo action waa taken. Adminutratioo wa* in formed by Congreve that it already had the power to increese UrifTs through the escape clause provisions of the Reciprocal Trade Agreement Act Aa e ressdl the domestic Wad and fine mining industry, through the Emergency Lead-Zinc Committee, ap pealed to the Tariff Commno foe relief. Hearing* were held mi Novem ber aod various witnews asked foe greater Ur iff protection, import quotas oe both, whiW others, particularly foreign producers opposed any change*. As the year closed the repoet of the Terdf Commission to the Free* kWfst was awaited. Under the escape clause prov*Mone the tariff on Wad ores and concen trate* could be increased from He per lb of Wad content to masimum of l.tc per Rl and on lead metal from l*W per lb to a majumum of 2 59c. Meanwhile the Wad price on the London Metal Etchange dmemmted the possible Unff increases and frQ well below parity with the domestic market, even allowmg for the masimum possible tariff increme, h recovered somewhat from its low before the year end. Uvea. Of the three major met of Wad. only />**ge Ksttene* gave a reasonably good account, and even these were somewhat disappointing in that consumption in baiterirs increased no more than about 1%. Apparently technological advances which peraut the manufacture of batteries with longer lives but with Wst Wad pet bat tery are hasing their effect. On the other hand, tetraethyl Wad used 109 less Wad than in 1994 which wa* its peak year. The drop of about 19,000 ton* lo 173,000 tone in 1957 is probably attnbutabk to two factors: a decline in total gasoline consumption, and the coming oo* dream of a number of new catalytic cracking plants, started a couple of year* ago. which provided a greater pool of high quality slock requiring Wss TEL per gallon. The third major use, cable sheath ing. showed eves a larger perceoUgt decline of nearly 15%, dropping to about 115,000 tons. The 1937 usage was dnappmoling and probably re flects catching up on the back-log of power and teWphonc cable require ments. a shortage of which has per* fteprfMed frwm fNGINf f KINO AND MINING JOUKNAL febrvory 195 g cereu is m w te-os-M*a mw s w c *. Im, m w * u m s c . * r*t m. g. y. . i ^g.p, mystj I'1#* 1111 wu.<u mfigy.'f .j j !" "i ii-1 r iMGiMi-la----MMU-MBa--a--JM*--Mi--iMM,*A-ataia**aaM-*il---Ih Jb MSi--Ml N 2381.01 LIA20187 Supply and Demand In the U.S.* rMbl Ml ifmw rr-dwtM WiavWy prw 4uri*... Iwpvw. On. , P^idWn mom tn.m IHM HUM fonwtt |As (17 7*7 sit Mi*AM Ull.Mj CVuw* a web At prim<> --r ferry Miners ....... n.m* 1 411* Teul nv4aMv .... UHJN PmiM: UiWemltsammptrnm............ I.LMJM Giniwn aj *4 we* >ntary Awrbets (AM* ijto.m uxm r.Akp I.UMM tJ0t.1V Im eswtp* ad vwacttwMed fw.. IMAM 104. V* `Aavncu lM>fl f Udil Sts'Mtin, U. & fiwvan 4 M *n sd land Indus trie* .W*wrtaw 'Deerewn. Ik t mw . Monthly Average Uod Prices--N.Y. (CM per fc) IW U--~y ftAMfe February A.AM Mnrch. ... MAM A^l . MAM M.T IftJAS N. MJN IUr............ MAM ,4mc --r HAM V pr aUt . MAM Ortolar. ... 1149) Xmnlw.. U-MA Dwtwler.. U.AM (*1 14 lit 1*030 Mono |A0n0 IAOGO Mono Mono Mono Mono Mono Mono M 000 |915 ISOno 15000 13 000 13000 I30rp 13000 13000 Itnoo 13 ICO IS 500 13 300 ISAM Uod Use In the Ud.* PWt tea.) mr Umi W feVmLswi. 17AM feed Wwf and hcharg* n.AM Stands knirrirs.... VMM Cable........... feuildinc II9AM ftt.AM Tetrarkyl Wad. .. Anuwawitinn ..... Fad.............. WrW wui ... n.AM U.AM MM M.AM Nddrr.......... Type mil Cafkiag Wad t>Wr m. . 72.AM 25 .AM AA.AM 9I.AAA I*M M.9SI 7A.IM 370,771 I34.MA 31.777 1At .990 4M1A 4rUJ Ti.UI 73.790 14.709 44.970 ItIVA i.m,M utw.m *8gird i0.1 Rma ml Mi Mild* t*e* tMni Mh< the ! fe**iew of few dmkne m Imm bmhhng. i wetutal la espact ^ Al UW Wed f*W |fe purfvjw w<*ild fed aNmh eficcvd I Hr figure lot feiiUai, which Mkkntn dMMnl k h k Im'i m Dtfl, duww to SI,* Oij O kiM, of I2*t. Mowrver. eauflmg tr*4 WU steady at v m4 41 (All lows AJI the odw mt i of W*J exfeet IrU (fertf mi of iho(f oah' imJ< rat W*h thf f*erf*WO of RmcrlUnrouc or wnclaewferd use* Th* fetter %m down ahuuf 11%, lo 9).. 000 tom. U general. the trJ coswumpetow pwture * pcfvewSrd M 1937 wwuki met fed too drsturfemg were not Mr (St CMbMKf omptofuctoi lhrXi|SOVl Od world No h lujor iferd to stnNishrd met of k*J prevented A- ctf. Comon^io* rdfeev lotfcwed ifec |mnl feMbm trend or special com- dltjOSN, fel SOWS* ifUAC*, whtffe Aft M fairly to fed ptrmwwm. Oddooft. For (fed immediate fvhflX lfe( m (fed ytir 195ft, there ippev to fed oo spccul feature* wtuch would fend m lo fechrvt that cowwimptooa HI do uyHtd| but follow (fee pot* ftrm of feuMorw general Most iu*sfactum*' mvensones in comport* fewrfy low Mid any improvement fei dh'r feminew would hav* to fed ro* lead nftdf fiaiy o c iu mI buying* It ffuy fed espectrd that (fed u%Uim.' advance io (fee im of kod for KtrikVI Wad. which started it 192) tod dfech fell oo ipfrtcuUt setback until 195?. wdl ipd be ItmH io (fee future. However. brciM of (fee cwwhtioa which coined this irtKict improvement b oot kkefy to fee fck for toother 4 to 12 months. Furthermore, it m sho unlikely (feet Ao tKfeoofefKdf imprpvemroM io fedltericA. which have kept pace with (fee growth io automobile refrstreboM fel (fee ImI few year*, can cooMsue At feat rate, lo other word*. (wrrusg (fee development of ao entirely oew type of battery foe Automotive me, which fe oof kwhcstedL it teems highly im* ptobabfe that the Amount of Wad per battery c m cootmu* k. be reduced fedrfaiiely while the life of the bn*lery increases! indefinitely. A moderate vp-tura in home build* mg. which already indicated, would fee beneficial to lead hut would he balanced by any curtailment of indue* trial investment * new plantv the hugh Federal*-aided road building program ihould Nr reflected in wh ttantially Mcrrunl demand for red lead paint* for steel highway siruclure*, unce sute highway specifica tions prepooderaaily favor (hit type uf pamL New developments m the ce ramic bJwuncv Mich At porcelain tnametted aluminum, low fir**| pa- cefaid nfwrk for Mtsl. the me of had (ft ikvtuwx *nj other cei<m< hdei anj <*her ah puf Id wwrnwd uw of W*J mi CetaniKA. hut they cannot fee evpcvted to devrh^ tifwjty. On the other hand. ir*4 prtahiclion should fee sufeMaitf^Uy ktwrr in IV^ft due to the deprewd ptKt ftr\ent ftgurra mJw'ate that tfewneMic m<ne pnOuctsMi will be went 4.(Alt or 5,* (XX) tons a month k>*er than in the irM half of IVt?. foreign pnvhxtiuw will probably aUo fee at a kwier rate. There are a number of other fac tors (hat will affect the 1951 tend market Fur ciamplr. how long and at what wD the (nwemmeiit buy Wad foe Mockple? %hal will the (omamu an recom/nendaiiunA fee and wifl they he accepted by the prrwJrtw? For the lunger Intuit there are drflmteh a number of optinmiic ugm, me (he lrat of which <* the de*rrmm* dva of the ndaii) tu make a virtue of it capacity to pttxiuce a( higher rate. !hi% nut unf> k an memtoe to fend new wm or expand proem met hx n ao AMurancc thx (here w 4 be enough lead to lake care of them A few jearv ago lead consumers were frightened fev shortage* anJ (tied to fend substitute's fur Wad. Now they can fee encouraged to use Wad freely in wa\% they have noer used before. Wuh this oulkxA the Wad industry n embarking on the UigeM and mod nemo* research and market devel opment program m its h slurs The piwibWes in ceramics ami highway consimciipo have been mentioned It n also engaged m a study of the de velopment of oew products lot the building construction Arid A com pkte survey of research powfelitm m every area haa fine been completed by the industry. Thai Wad is Adaptable to imwltm trchttoiufy n found ta a number of new development*, acne of which are necessarily important tonrtige-wnn but which indicate that any day a new large me of many smaller ones ita> become commercially an^iruat. For instance, the Navy developed tiny lead-silver rechargeable dry-cell hat* kry fur use in electronic equipr-tcnt Infrared sensitive lead sulphuW is used m the guiding mechanism of the Army's Nike misule. I rad compounds can be used as modifiers io rocket luck, lead is almost essential an shield ng against gamma rays in no bile nuclear units. Lead stabilisers art important in vinyl plastic*. Powdered lead in combination with polyethylene, paraffin and other binders b finding new commercial applications. While Wad has hem found to almost double the emissivity of copper# rwnil WU4JS. 0 -j wu ifauai UNMa o mam I