FINANCE AND COMMERCE

Press, Volume LXXII, Issue 21978, 30 December 1936, Page 11

FINANCE AND COMMERCE

THE WOOL SITUATION ' I JAPANESE FACTOR IN SALES Considerable interest attaches to the approaching postholiday resumption of the wool sales, because of the hj trade arrangements just completed between Japan and AusI tralia. Japan's undertaking to purchase a certain Quantity of !<•' wool in Australia within the next 18 months may possibly I cause her to concentrate her buying activities at the remaining l! Australian wool sales, to the neglect of the New Zealand sales in which, so far, her .purchases have been such an important f factor. As against this, is the fact that the New Zealand ' r rnills have still to secure the bulk of their requirements, K although, ol* course, the finer wools which they need are purchased at South Island sales. In any case, the situation is I fraught with great interest. Overnight cabled advice from London reflects the unsatisfactory state of the market for New Zealand butter, which is reported to be slow. A further drop of Is per cwt is recorded in the price of New Zealand salted, bringing the quotation down to 945. The price of base metals continues to rise, all-round increases again being recorded in the latest prices cabled. jCopper (standard), which a year ago cost £34 17s 6d a ton, is to-day m quoted at £4B 15s 7Jd; in 1913 the average .price was £6B 5s I gd. Lead, which in 1913 averaged £lB 6s 2d a ton, and a year 1 ago was quoted at £l6 2s 6d, is to-day worth £2B 3s 9d a ton, I and tin, at £233 15s a ton, is worth £32 Is 5d more than in 1 1913, and £l6 15s more than a year ago.