RAW MATERIALS

Dominion, Volume 31, Issue 143, 14 March 1938, Page 12

RAW MATERIALS

Last Week’s Closing Rates By Telegraph.—Press Assn.—Copyright. (Received March 13, 6.30 p.m.) London, March 12. Friday’s closing prices for the following raw materials were as follows, those for March 4 being shown in parentheses: Cotton: Liverpool quotation, good American middling, spot, 5.06 d. a lb. (5.13 d. ; April delivery, 4.93 d. a lb. (5.01 d. Rubber: Para, 6d. a lb.’(same); plantation smoked ribbed sheet, 7d. a lb. (7 l-Bd.). Jute: March-April shipment, Indian 1 jute, Dundee quotation, £lB/10/- a ton (£lB/12/6). Copra: March-April shipment, sundried' South Sea, to London or Rotterdam, £ll a ton (same) ; smoked, to Marseilles or Genoa, £lO/15/- >a ton (£lO/17/6) ; plantation, Rabbul, to London or Rotter’dam, £l2 a ton (same). Linseed oil: £29/5/- a ton (£29/15/-). . Turpentine: 32/6 a cwt (31/6). / LONDON WOOL SALES Decline In Prices Anticipated By Telegraph.—Press Assn.—Copyright. (Received March 13, 6.30 p.m.) London, March 12. There is little likelihood of increased prices at forthcoming London wool sales, but the industry generally is more confident. Bradford at the moment is fairly well covered, but Russia is expected to seek medium to low quality wool, while France and Belgium are likely to buy merinos. The opinion of prominent wool traders is that fine and medium crossbred will show a decline of five to 7J per cent, compared with the January segies, and merinos will be par to five per bent, down. Loudon, March 11. Russia is expected to renew buying at the wool sales beginning on Tuesday next, at which 48,400 bales of Australian and 47,900 bales of Australian wool will be offered. Germany may also be a competitor for. medium crossbreds. Home competition is expected to be slow, as ample supplies of wool have arrived at Bradford from Australia. The consensus of trade opinion is that prices are not likely to be materially changed from closing rates of the January , series. Offerings catalogued are 110,700 bales from principal producing countries, Australia, New Zealand, South Africa and South America. LONDON BUTTER MARKET Prices Expected to Rise By Telegraph.—Press Assn. —Copyright. (Received March 13, 6.30 p.m.) London, March 12. Butter is tending upward, and Tooicy Street expects prices to go still higher until the retail price is forced up to 1/3 lb., after which the trend will depend on the,reaction of consumers. There is some nervousness on this account, and speculators are extremely cautious.