EXCITED DEALINGS

Evening Post, Volume CXXIX, Issue 112, 13 May 1940, Page 12

EXCITED DEALINGS

COMMODITY MARKETS

TIN IN GREAT DEMAND

(By Telegraph—Press Association —Copyright.)

(Received May 13, 9 a.m.)

LONDON, May 12. The most excited dealings in the commodity markets since the -German invasion of the Low Countries have centred in the price of tin, which has soared to the highest peak for the year. But "no outstanding fresh purchases have been reported. The international tin committee was scheduled to meet on May 27. Before the invasion of the Nether- • lands the production quotas were roughly equivalent to consumption. • Grounds for any reduction m the production of the metal are not very strong. ~ ' United Kingdom consumers are said to be not overstocked, but are relying upon current arrivals. Malaya has decided to discontinue the publication of mine-head stocks, because other producing countries refuse to disclose similar information.

N t World stocks of tin for. April, 1940, as returned May 4, were as follows: — World's visible supplies, 23,119 tons; Straits carry-over, 4564 tons; supplies, 12,808 tons; deliveries, 12,669 tons. London spot prices for tin during September last averaged £229 8s 9d per ton and1 reached' £249 2s 7d for December, easing down to £240 18s Id in January. Since the beginning of the year.the price has been rising, notwithstanding day-to-day -fluctuations. London spot quotations at per ton for the past week or two have been as follows:— ■- Buyers. Sellers. . £ s. & s, March 1 252 15 253 5 March 14 252 10 252 15 March 28 248 5 24810 April 19 254 0 255 0 April 26 255 10 256 0 May 3 254 0 254 5 May 10 263 0 263 15

The International Tin Council has its statistical offices at The Hague. Representations of producing countries are Belgian Congo, Bolivia,' French Indo-China, Malaya, Netherlands East Indies, Nigeria, and Thailand (Siam). The headquarters of the council is in London.