COPPER QUOTA RAISED
The climax of the recent activity in the copper market occurred with the announcement last week that the quota is to be raised from 95 per cent. to 105 per cent. by August i6th. The market took the additional release, which amounts to about 6,o0o tons of copper per month, almost in its stride.
(Continued on page 272)
FINANCIAL NOTES
(Continued from page 271) It was felt that even if the recent heavy buying by France and Germany should not be continued, the absorption of copper outside the U.S.A. should b2 high enough to take care of the additional supplies. Stocks, too, were expected to show a sharp fall as a result of the buying which had already taken place. The expected fall in stocks has since been revealed in the July statistics, which showed a drop of 23,000 tons in world stocks of refined copper, partly offset by a rise of 6,000 tons in blister stocks.
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