Document kDYXebxq1QLwX30grjzoyvDNq

L IA16294 LEAD INDUSTRIES ASSOCIATION 4J0 LZX1W3TOH AVXNUX 3 KCW mat 17. N. V. Tig CTP.EKT WTSJJ T.TJLS STT3ATIO R. L. Wilcox Chief Bonferrcua to tala Branch Sccnowlc Cooperation AtSainiatratlon X m very pleased to ba her* today at the Lead Indietrtes Association's annual westing because this appearance represents the second consecutive oppor tunity that you here giwaa to aa aa a representative of the C. C. L. to dl tease tha currant world laad situation* A thorough knowledge of tha acrid situation la leportant whan dealing rlth a strategic world ccoBOdlty tuch aa lead that la sensitive to international trade and general Indue trial activity. Thia la particularly true at a tlae whan tha load Indiatry throughout tha free world la doing everything possible to continue to supply a aaiwl ngly unsatiated ecnjnraor dooand* Thla dewand haa boaa brought about hr the imposition of Mutual Dafenae Prograaa upon clvlliaa sconoaica of the free nation* currently representing rata* of Industrial activity one--third to bettor ths double that of the pre --r or 1733 rate* To bettor appraise and evaluate tha currant and likely 1imp ditto future situation, let us first review tha overall production and const^tlan of load In Q 1750, 1950 w h ip l e a d snumar Wbrid PovltIon Data an production and ooneuaptlcn of lead in the world, exclusive of Russia and satellites, In 1750 with similar data for 1718, 1?L7 and tha pre war or 1735/38 averago for ccoparlson purposes are ruawarised in the Table an page 2, These data wore obtained and compiled ty the CCJl froo all available emu ueei They represent the rural, of over three yoars' intlnato association with the pr^ blocs of producing, consuming, importing and exporting lead throughout tha free world aa part of the Boropeaa Recovery Frogrwe, Coverage has been extended and '.jester attention baa been paid to the see of scrap and other secondary aatorlala aa a aourca of lead In addition to ores and concentrates ty tha nailers, Thia *ae dona to obtain as accurate a picture aa possible of the true world supply and deaand for load in tha fora of ores and cow, castrates. This has nacoaaltatod certain revisions and clarification of the data prior to 1750* Accordingly, revised detailed statistics for the years 1918 end 17t>7 along with those for 17$0 are horn la Tabloa Mo. 1, 2 and 3 la tha Appoodix. Presented at tha 23rd Amual Meeting, load Industries Association, May IT-10, 1751, Mew Xork, M, X, --2 HP ii !PfrjBi*wip3P!ippBgW|!pp:p*fflPW^^ LI A 16295 *> * - S'-mr*! significant fact* will ba noted fpae tba aunmary presented la tbs tail* below* 1, World Srwlter Prc-hittiot In 1950 even though slightly surpassing tbs 11 tlae p*jc c;va^ra o-ir'i:C;">< -1 a V:,ir II period, failed to seet total demand with id indicated reduction in world stocks svallisia for conauaptina of about 1*3,000 1C* This was la direct contrast with performance la 19LJ w!mn realtor produoticn exceeded total demand with e rclred-er.t increase la world stocks of pig lead trailable for consumption of about 113,000 Iff. A check on stocks of pig lead available for ccasuspticn in tbs bands of producers throughout tbs world at the start and end of 1950 disclosed that stocks actually wars reduced by somewhat more than the anoast indicated and that remain ing stocks represent a mint ms workiac inventory with little or no further reduotioa possible, o k l d y moxnos-coicouFniv k s z t z o m cr ix id 5/ ! (Quit - Thousands of Hetrio Tone) Tsar Production Oefflswrtion c/ Mlne~^ 3nelter Kins Product ~Ri Lead s u l \ 1935/38 191*8 191*9 1950 1.383 1,327 1,185 1,567 . 1.UC5 1,262 1,31*7 1,1*66 1,360 1,35 1,510 i,67t /Iff/. - y- 63 y-i63 -206 - 23 / 38 y m WSTSO CHWtOE Df WKLO STOCKS AVAILA2U POfi CCNSOQTzox 2J iECGnUiZZ WITH F00TW9THS / tiftOUQS y (Unit - Thousands of Metric Tone] SE 1935/38 191*8 151*9 1950 Kins Product / 95 - IS - 26 .65 &J*S& 23 /XL A33 -W Hotee y Excluding OSSS and satellites* c/ Primary only. y ictusl where rrailahle* Otherwise apparent consumption deterelaed by prodbetien plus Inports, lass experts with adjustment for net stock change and other factors* y Recoverable setel basis* y Is indicated by arithmetical difference between sine end enalter production and between oonaiaapuioc and saelter production* __ t/ World sire production augaented by at least 50,000 XT of recoverable lead la ^ scrap and aeoondary materials. trj y World cine production augoented by at least 68,000 XT of recoverable lead la ^ scrap and secondary materials, y About 7,000 XT of world analter production was for apodal aooount and not available for oooausptlooe . ' ' ';e< ' we"? myeyee^je;4eHjB^Wus*ew)wewm^ fWEPBU'iJipjawwipiff J' " iWJWW- )pn>Wl awm'J L IA 16296 pm* * 'tm -3 - y *crld Sint production atgrvnted by at least 137,000 Iff of recoverable leed la scrip and secondary cstr**l. *J About 192,000 102 of wcris crelter production m far apodal aocount and not y rot avsdinbla for eensusution. '\J Xcrld mine productlen c--c -.-tod by at least 11*3,000 Iff of recoversbls laad la acrtp tod seecrdary materials. 1/ About 155,000 Iff of world snolter production ess far special account and not available for consuaption. The reason for thla la that 0. 3. apparent ecnsr-Eptlon of primiy laad la 1950--datarained by production pins imports, less 'expert* with adjustment for ns* atoeic chance and other factors--doe* not Include lend leported la 1910 for warehouse account and withdrew* for consumption la 1?5C Therefore, 19*9 O.S. psriaary conausptloa was overstated and 1?50 V. 3. prinary consumption aa understated by at lasat an astimated 20,000 to 30,000 Iff. la a result, the total t o rid consumption in 1950 is understated by at least this tonnage so that the actual reduction la world ttooka of pig lead available for consumption in 1950 mat ban been substan tially none than that indicated or disclosed ty an actual check on producers * stocJm, The world seriest reflected the easy supply position in 191*9 and the prim of lead. Coason Qrade, M.T. basla, declined fro* 21.50# per peund in affect on Jxraiiry 1 to 12.001 per pound In effect at tho dose of the year. The world narfcet also reflected the abort supply position In 1950 and despite a series of slight adjustments during the first half of the year, the price of lead, Common Qrede, I.I. basis, reached a paries of 17.00# per pound on October 31. Thla 0. S. price was still maintained at Decsober 31. During the period October 31 - December Jl, 1950 men the D. S. price was maintained at 17.00# per pound, European and other world market quotations for equivalent grade pig lead mere considerably higher se 0 that the U. S. prioe failed to reflect true world demand i 2. Mbrld Klnc Production in 1950 under the stimulus of increasing prioee showed a substantial inprovenent of about 119,000 IC of recoverable lead or an 8.6S increase over 1919. ftmever, even this performance failed to satisfy meHar demand in 1950 and world snelter production waa only obtained by a reduction in murid stocks of nine product of about 5,000 Iff in terms of recoverable lead* It Is significant to note that 1950 oartced the third consecutive year In which world stocks of mine product were reduced with a total indicated reduction during the t.xoe year period 1918-1950 of about 106,000 Iff of recoverable lead. Ihile statistics on world stocks of nine product are not published, a cursory check of world stocks of mine product in the hands of producers and others ill sol need that stocks did in feet decrease to about the extent indicated. In view of tin facta outlined in 1 and 2, the world lead situation in 1950 may be summarised, therefore, ty spying that both sine and smelter production failed to keep pace uith total demand and that requirements were met only ty signif icant reductions in stock of both pdg and mine product with stocks remaining in producers* hands representing about a --<-*- working inventory* future Korld Outlook With the various nations throughout the free world embarking upon Mutual 0 Defense Programs, as well as making every effort to maintain civilian sconced** at tnelr current hi~h level, ths lmedlate outlook for 1951 would indicate a eontlnued high dam and for lead with tome increased pressure for a higher price in the world market*, fcwever, cry substantial favorable or unfavorable development in the far last and/or fnropean situation could ease or aggravate tho current supplyvdsoand situation. ww* ww* \ mm i i p i p pw i i!un m LIA16297 '******&, ,-**SM&*-*lSm T9*4- Regardless of whether an cptliistie, pessimistic or sdddle of the rood viewpoint La token, the inaodiate atotistlcal position of the load indistjy througbft out the wcrid vharein producers' stocks of both pig lead and nine product an at u minimus working levels, would indicate that any resultant price adjustment upward or particularly downnard In the near future could not be of great magnitude* U. 3. Position Production Balance 1 Consanution Itine Smelter Wne-Smelter Saalter-Con. i fllalt - 1,000 o/ltfj 1935/38 192*8 191*9 1950 2*11* 665 520 757 31*9 353 - it -61 355 1*65 -110 -200 367 1*90 -123 - 30 392 520 -128 -277 Under the atlnulua of high cl--end and Increasing price*, D. S. mine and alter production in 1950 Increased slightly over 191-9 but still failed to satlsQr demand by substantial margins with indicated net impost requirements of 277,000 Iff of pig lead and 123,000 lit of recoverable lead in ores end concentrate#* Bswevar, tbs data fcr 1950 as wall aa for 191*8 and 192*9 emat be considered in light of cart-sin additional information such asi A. About 2,000,120,000 and 105,000 Iff of sealter production la 191*8, 192(9 end 1950, respectively, were for special account and not available for oens--pticsu B. Wine prediction in 191*8, 191*9 and 1950 was aupaer.tad by about 30,000, $5,000 and 10,000 KT, respectively, of recoverable laad in tbs fans of scrap and ether secondary materials. therefore, the V, 3.' indicated net import requirement# for lead in the form of mine product and pig lead should be adjusted as shown on the following table along with actual net imports for cooparison purposes. 0. S. Adjusted 0. 3. Actual Indicated Tear Ore* k Cone. V Pl Lead Ores k Cone, a/ Tig Lead 0r5 k Cone. */ Hr. Lwd (1,000 of Iff) 19C8 192*9 1950 - 83 -68 - 88 -208 -173 082 93 56 65 218 / <14 2ca - 12 /26 350 - 23 -32 Recoverable metal basis. %/ tees duty free material for special account. It la Interesting to not# that the indicated cha**vs la stocks of pdg lead at the producer level agree with what actually happened accoriii* to published stock figures. Since published date on stocks of nine predict la the Q. 3. are Incomplete one on only speculate aa to the accuracy of the Indicated chngee. To euamariae, the current U. 3* lead position emphesisoe-aa was also the case in 192*9--the need for increased domestic mine production to smelter operations at the currant level and minimise dependence upon imports of ores --1 concentrates. It is true that under the stimulus of the present and foresoeahla mm- imvmwmwuju , mnw lejMiji--iuisimiiiji aniiiuuiu- njii 14JWTOiai*-- ] * t '1if tumi r s.i i, i*w^ !' v***w- L PI.IIUM.IPPHMM mil PI ' * ' L IA 16298 ft*., a- i -.fl rtf ~'iwiiiiV^MiidSrrii>fiwt> ant i rtrir i W ] . -5- ^ future, favorable prloe for lead, adne production In the 0. S. should incr*43* In 1951 by *a estinated 20,OX to 25,000 kT of recoverable lead* Dwrir, tide in. fl crease will bt reeded to aaintain smelter production achieved In 1950 end to offset I tJ substantial expoeted reduction* in total inporta of pig ltad and load ores and ooo> j oantrataa in 1951, ] Tha sain raaaona for the expected daeraaao in 0, S. Inporta of land in 1951 | art (1) that tho high rata of inporta obtained in 1950 waa achieved only aa tha result of substantial reduetioca in foreign producers*atocka which are now at a and (2) tha fact that tha 0. S. price la considerably below prices in ethar world narfcete. f Mcrlce's Ibaltlon \ Iar ~ 1935/36 19W 19U9 1950 Consumption "^' Reg k7 10 y Recoverable baaiae Protection Balance Mina a/ Saeltar Minn (Walter 5wltai>-CotW TiSTt - l.oo&'af U?) -- 22S 220/$____________________ &20 196 193 ------- T1-------- --5?F210 2Ct / 6 A96 AS ms237 - 6 In 1950 Mexico slightly lnprcvei ita historical cat export position with indicated exports of 235,000 MI of pig load* In fact the 1950 production rate for 0 both nine and shelter exceeded the pre enr rate for the first tins in the last twelve years. Barring any najor adorers# development, Mexico should have little difficulty In nalntal nine it* current position over the next few years. 4 Canada's ftesltioa -a Production Balance Tear Consumption Mine a/ Soaltar Klne-Ssaltsr Saltor-Ccn. (OUt - 1,000 of Ml) 193508 20 56 207 172 --Hf -?s-- 191a UB 115 115 1950 51 ISla ia> o o &S y Recoverable basis. Includes production free MewfouaUand. In 1950 Canada continued Its historical net export position an lead netal with Indicated exports of 103,000 MI against actual axporta of 10h,500 MT. bhUo tha statistics indicate no exports af lead in t'w form of ores and concentrates in either 1919 or 1950, actual exports mounted to 16,000 and 17,500 iff of recoverable lead, respectively, pracucafcly free stocks* Une production in 1951 is not expected to be nuch different then that of 1950 but shelter production la definitely expected to be off slightly frea the 1950 rate* 1 i*11 'JURisejaH.i.,w;ajip-j !JUjgsaaij?m^siii)|as^ii'--Wji^j^anjtaa,Lijy,)^ptii4#aM|wL^n^.iJL|iiiJi;jwyi|Ji|aj|;i^.iji!i^ia(pwaf%i' HIWWWMIPH p w *tW W ^i| jWl i | p i p ^ ^ - &. -Ai-A ,-mN* *%f * i V . r E. i t !> Wt * f 'W 7 LIA16299 `fil^dlf^'^tlllg " lif ' -.a-**..:,.*--*g^. iaM&e&uAriaNiM 6 l*tt-ra Ecrepo or the PC* Position y Production Balance To*r Consumption Kina W nelt#r Ulre-Swelter Jaclter-Con. J (ttait - l.juO of Ktl ! 1935/38 71*1* 21*5 319 - 71* 4*25 191*8 1*62 11*5 21*3 191*9 1*51* 181 337 - 91 -156 -219 -017 1950 538 209 385 -176 -153 y So* Titln No, 1 to No. 3 in th* Appcnrtiir for countries participating in th* JEuropean H*oo*ry Profrm, i y Recoverable basin. Th* currant position of th* participating countries and their evara*** territories a* a group shows thct wHl* coniruaption and win# production in 1950 *r* rtUl lagging behind pr war rates, Baaltar production exceeded th* pra war rat* by a considerabl* margin. Th# atatiatlcs alao ahear eery elaarly th* nat import pod tioo of th* par ticipating countries ca a group on both pig lcjd and aine product, This dspendeno* upon outside aouroaa of supply la further mphaslaed by tbs graphical presentation of th* participating countries' Import* of pie lead from nan-participating countrlm* in 1935/38, 1915, 19U9 end 1950 by aourc* in Figur* No. 1. Th* xt*nt to which tie SCA haj assisted th* participating countries In obtaining thslr marginal supplies of pig lead la shown by Tahla No. U 1a th* Appendix which suaaaritoa tho Procuranent Aalhorlaarlons lssusd far la*d cuailativ* April 3, 191*6-March 31, 1951 by uuuutiy 9 of origin and country of destination. Because of th* importane* of the supply of load in tho form of or** and coecantrates throughout tho world, eenpariaon of tho participating countri**! iodicat-M net import requirement* and actual Imports of recoverable load la tho fora of mine product for th* years 191*6-1950 1a ahowi im th* following tablm. Tho Participating Countri** Indicated It Actual flanort* 17 Roocvcrablo Lead In tho fora of Orct and Concontrmte* (Obit - 1,000 of XT) is 1913 19>*9 1950 Baport* Indicated Actual & 61 52 176 73 Chnmto In Stocfc* ladle ated Adjusted - 36 -ia, -M3 -1 -n -5 y Adjusted to account for th* fact that Import* of oonoentrato* In 1913, 19U9 and 1950 War* oupaentod by the ueu of 35,000, 77,000 and 98,000 Iff, ruapoc tlroly, of load In th* fora of scrap and other secondary Bstarlnls. Tho foragoing tahla show* that th* participating eountrlaa war* successful in increasing aaoltor production in th* peat few year* largoly through thoir ability to obtain lead in th* fora of scrap to augnont import* of concentrate*. Report* fro* abroad indicated that th* supply of acrap (largely an accumulation of war damage atocka) la rapidly being d*pl*td and that greater dsp*nd*ne (dll bar* t* b* placed upon import* of lond in the fora of ore* and concentrate* in th* future# .ainiMff (iijw 1| W (I)* III| a 'i w wpp i U' (*.' ma <* '* I I * ; i) niatmpiAjiJjywWffJW1in1- i mm gpnpmp m wm m LIA16300 - 7- In 1951, tri.no production of load in the prjrUelpcttn* countries md their orarcac* terrltcriss rj t croup la sxpected to increase by about 32,000 If! of reooTerable aatal with the ncjar increase expected in french ifrica, Sutter, wren with this increased wire prediction in 1951, the participating countries will still here to Inport concentrates at least at the 1950 rate to maintain gnelter production and to offset the expected reduced SYailabillty of scrap. J ,1 * i 'i J:JHMVPPHP9H|mP^iP^ 'iiy.uiiwi rnmmmimm * p LIA16301 nwiMtfm f f * IK w m jBmT'iij|i..... . 'mm 11 |1i' * i i. A.PHETOH ra b l e m. 1 I 19t(S World Production-Coeiraejrtlac Foeltlon of LEAD / (Unit - Thauand* of Mb trio To m) 5 Ooneraaption y Froductloc Balance 2 V Saleter mne-Swelter fWltMVOOCU Total World hm 1.282 51 / Pnltod State* tir.-z* fc Newfoundland - {.arnica SouilTABerlca -no y j/ -200 Itureoe 7oi*l"l/ "sstFn-- Belgian * 0. T. Demerit France French 0. T. 0 rainy Italy hetherlaada lorwqr Sweden Swltaerlaad United ftngrlra U.I.O.T. (Rhodesia) Other Strop* Other World a/ Australia Japan Spain South Africa Jfogoalavia lHacellaaaoua 35 T n i 57 19 30 5 25 15 185 SI b 15 7 8 19 0 0 5 0 6 35 U 19 2b 65 27 26 01 00 21 9 00 33 13 13 b1 S 262 183 7 10 27 22 25 b9 U9 11 *J0 zi /18 - - IS -082 A70 /TuT *? 18 y Mm>7 only. WTB y Actual idler* BToilabl* or apparent conauaptloc <!toruined by production plus Iwportw l*e expert# with adjustment* for Dot stock chang* and other factor*. y Recowarable natal oenWnt* d^ Arithmetical difforanca bataoan aina and aaoltor production Mid aaaltor production and consumption. Indicate* a net Import requirement or net exportable aurplua. I- Total world ulre-enolter and anelter-consuaptlon balanoa indicate* actual iacreaae or decrease la world stocks. y In y 1*w of notes y, y and o/ Indicated decrease In aorld stocks of < cro&iot should total only about 1S,o 5o M2. I *pcnvr 0 ' i.mH ft)'1" *'1* . - - I f * qwwppwppiiiiwwfli^^ mm i wwwwtP' mpww LIA1630 2 \ -- xmamr-------- TABU BO. 1 Continued World Lead - 19bB {/ In view of notea fc/ and J/ Indicated lncru In vorld stocks available for conaiwptlon should total jl, 000 1C. About 2,000 1C produced for apodal account and not availabla for conauaptlon. t 1/ 0. S. nine production that euppll** the enslters i^nontod by about 30,000 1C of load contained In acrap. 1/ In riaw of not* tJ lndleatod D. S. not Inport rafriraaint for ccnronption should bo about 202,000 1C. }/ About $,000 1C jrodoood for opodal aooount and net arrailablo fof oenewaptlwfa 1U In view of note \f lndleatod Mexican exportable surplus should aanimt. to only about 183,000 MX. 1/ Tha participating oountrlaa and thalr overseas tarritoriaa only. m/ Oeraan ulna production that auppllaa tha saelter aignented by about 35,000 XT of lead contained In scrap* y Exeluaiva of Hueala and satellites* o/ Japan's ulna production augmented by about 3,000 1C of lead contained la scrap. |HJewwa!W '` ' i.s iU!i j ^ ''i'V W P W t - - .- v jwwiaga-.jfiijwpi m CTinaini Si .r w iiwe-.***.; tnfowes i .r :-'ijyfrt Total World kmxiTt t a e l s h o . *' 19ii9 World Frodoctlon-Consuaptlcn Position of Usd s/ (Unit - Thousands of Ustrie Tons) Production BalanScOeS d/ Oonricptlon ^ ltjnTc7~ lt*r klae-Saalter 3aoTtt*r-Coa* LISE LM h2t/ -if2/ feZi/ (kilted State* *sr.a-c & Newfoundland Ifcxico South Aaarlca fcirorw* ^**1 >/ Austria Balgius k O.T. Demerit Prince french O.T. Oanaany Italy Batharlmda Borway Sweden Switserlsnd Qnited Kingdom B.K.O.T. (Rhodesia) Other Barop* Other World a/ Australia Japan Spain South Africa Jugoslavia Klsoallamoos $20 Jf IS 3$ 10 59 3 61 32 3S 6 2b 17 155 T *8 b 2b 7 5 17 {j| 1 "T 0 0 10 b8 la 33 0 1 23 0 2 lb 5 S5 7 X 32 57 1 45 /g 79 - 7? 00 5b u 20 4 26 117 76 26 0 7* 0 12 u 00 20 lb 0 2H 10 27 U h0 0 41 j/ Mmit only. ^ Actual where available or tfparont coneuaptlon datendned by production plus iaporte lass exports with adjustments for net stock chant* and other factors* oj Recoverable Ratal Content* Arithmetical difference between nine and naltsr production and welter production and oonsuuptlon. Indicates a net laport requirement or net exportable surplus* Total world adna-sueltsr and enalter-consvaaption balsnos Indicates actual Increase or decrease la world stocks* l/ About 192,000 Iff produced for spools! account and not aTSllabla for eonsuapUon* f/ In rise of notse X/, / and 0/ Indicated decrease la world atooka of alas pr*> duct should total only about 26,000 Iff. LIA16304 ,anjiat-1 jmiiLiii yum >* i~i*Tr-"forvfthi -..aL-v .tosab-sfrtt.'itirfinAfft r' ' ^ ril itini-WT'-' nu-'Z`i~\-_ ------ IFmOTX ----------------- ------ -----------TABLE BO. 2 Cctftizwd--------.......................................... World U*d - 1&9 f/ In rl*w of a/ Indicated Inertass In world stock* arallabla for eonsunption should O total about 133,000 XT. b/ About 1U(000 XT produced for apodal account and not arallabls for oonswptioG, y V. 3. win# production eupsented by about $5,000 XT of laad contained In scrap* i/ la *iew of h/ Indicated V, 3. net lnport rsgnl rs--nt for consuaptioo >*~1'114 be I t- about 173,000 XT. ife y Tbs participating oountrla* and their cewrisas territories ecly. f i y Eetiaated 10,000 XT of lead eoatalnad In scrap au^anted lnparta of proctert, l f/ Osrsss sins proowilon oupMiMd t>` >mi o?,000 XT of Isaa oontslnsd in scrap. y BtdualTt of Bussla and satsllltss* y Japan wins production anpwnted by about 5,000 IS of lad contalnsd la scrap, I i i f l i S i f r' `i .i nw f. '* .W m'P w m r mvmw m> 't 1 mmm wmmm vwwmmm**: 1p11y1.1t jti-iiiiiM1 LIA 1630 5 m-t.-fc-wtod* fdfryS.< li I itdNwaVSaSa-.-,; xmacrt TAILS HO. 3 ' 1550 BorId Productlon-Cooaiaiption Petition of l xas y (Odt - Thomanda of Metric Tone} Total BorId Production Conguaptlon 'tj Mint / h%l L^66 Balanc*e<( Mlno-3aeltr Saollter-Con. -0 / *^221/ Pnlted State* dar.jda 4 Sowfocndland UCCtt &cutK*Aa*rlca Europe' Total 0/ Austria Bald** * O.T. Oaanarfc franca Branch O.T Onrnaaf Italy etherlands Barway Sweden Swltserland United Clngdon O.I.O.T. (Rhodeda) OtVr Europe Ci-Srr World 0/ ' Aus tralia- Japan Spain South Africa figotlavia Miscellaneous 15 12 TkO n b5 38 7 a 17 161 las. U5 12 ZS 10 10 a y MUTT only* 0 0 u 87 W 39 0 1 19 0 >2 u 3r1t 68 2 JESSL 62 0 4 a 140 U2 6 0 17 0 u & 16 _33 66 0 -12S 1/ "3 y 0 - 53 1/ -*4 * 5* 27 b/ Actual where avail ohlo or apparent conaunptlon daterslnod by production plna lnporte lota oxporta with adjuateante for not etoefc chanc* and other factor** */ teoovwrable natal contest* y Arltlnetleal dlffaronc* botwoon win* and aatolter production and eaoltor production and conauaptlon. Znllcataa a not iwport rvqulr--ant or not exportable turplaa. 9 Total world wine waiter and asaltar-oonauapUon balance Indicate# acteal lncroaac or docreaae la world steak*. %f About 155,000 Mt produced for apodal account and not available for oonaunptlon an explained in /, }j/ and q /% mm* swwu WBTSSBte*S5 LI A 16306 m -K-VX- W--V .' aj t c o h tlSU HD. 3 Ccntiwd World Load - 1950 J f/ World sin* production rupwntad by about 1U,COO Iff of load contained la scrap u axpl.iir.ad in 1/, if, /, r/, /, t/, and r/. Therefor*, Indicated decrease ia world atocka of nine product should Total onxy about 65fOOO iff, fj In view of not* */ indicated Increase la world stocks available for coasuaptloa should bo corrected to decr-crgo of about 16,000 Iff. Actually, world stocks decreased la 1550 aa atit* tad additional 20,000 to 30,000 XT sines Method of dotaruinin* U. S. 1950 corjuaptlon of pritcry lead doe* not Include load imported in 151? for wrrshouso account and withdrawn for consumption in 1950* Therefore, 1915 0. 5. pariatwy consta^tioa was probably overstated and 1550 0. 3* consumption understated tgr thn sstlaatsd 20,000 to 30,000 XT* y Ibout 105,000 MI producod for special account and aot available for ocoeumption* ]/ U. 5. Mine production nnjasntod by about 60,000 MI of load oootaiaad la scrap, \J la via* of f/ Indicated 9. 3. aat import regrrlrnmant for consumption shcxild total ibort 3(2,000 MI. kf About 33,000 Mt producod for special account and aat available for conaunptlau \f In riaw of k/ Canada and Weufouadlaad's indicated aat azportabla surplus should total only about 79,000 MI. mf About 17,000 XT producod for spodcl account sad act available for oonsunptlen* tJ la view of a/ Mexico i, indlcatod nat exporttblo surplus for oonatsmtloo should ^ total only Tbout 213,000 Iff. a/ Ths participatine oountrias and thair oversea* territories only* ^f Austrian ulna production aupwnted by about 2,000 MX of lead contained ia scrap* $/ Belgian import of concentrate* augmented by about 10,000 XI of load contained la scrap* Jt French alas procbctlon atipuntad by about 7,000 XI of land contained ia scrap* a/ Oerecn ulna productioa augmented by about 73,000 XT of lead contained ia scrap* 4 ^ Italloa mina productioa aaptantad by about 6,000 XT of load contained la scrap* y Exclusive of Itasfla and sataUltoa* if Japanese alac production aupunted by dbout 5,000 XT of load contained la scrap* jg fj^ ui .......... ................................... ................................ * L IA16307 m a.-riiajtnartolT' i i -- sin*--i**. ' ;irir:f- ' APPDCIX TABLE MO. t ------------------------------ --------- HWCUTEHEKT ALTfDftlZATICUB ICR LEAD AfO LEAD BASE ALLOTS y CUMULATIVE, AHUL 3. 191*3 - MA&SB Jl, U51 Country of QrUria C 6 o n t r y o f D a a tlnatloa United Jiatbcr- Total EV-g** franco lands Dsnark (ittliiona of DoUara) Austria Morrwr r Li2 3hl6 is j xj Is2 Al IA J14 294 4 4 a Ho*. Latlc Arwrloa 19.7 34 2.8 104. 14 4 24 L United Statoa 2.7 14 14 N. M|i W B*l*laB 1.8 - 14 .7 m o S' Onion of So. Africa .9 - '- -4 - Italy 4 -- - -4 - r Iu*oal*rla 'a - - -4 - TTboaaaDda of Matrix Tona) I hi hi hi Canada 79.0 14 24. J - Bo*. EI' Latin Inerica 1*54 7.5 6.9 22.6 24 .2 54 OKItod Stotoa ra 34 3.5 4. 1 m - - BalUa lul an 24 1*7 -- - tfcioo of So. Africa 1.8 1.6 - - 4 - rE Italy 1.0 -on - 14 - ? lhtoolaria 4 - . . .4 `i i r y Tala* data obtained fra Qfflo* of Conteollor, E. C. A* W*l*ht data aatlaatod tgr Nonfarroua Matala Branch fro* appllcibla aonfarrova natal* prlooa. mwm IIIWHUMJ m .... ,!JIJ j; mp LlAifc309 r n.min'w nyy 1 l)M l | 1-ipi.i i umh r . " I i 1 nnwwu' mw i>i mum -** **"' 4**, !i ' i m i