SHORTAGE OF METALS

Evening Star, Issue 22632, 26 April 1937, Page 7

SHORTAGE OF METALS

POSITION HOT ACUTE CHECKING RISIKG PRICES As a result of huge rearmament schemes and the burst of industrial activity, following improved economic conditions, base metals have assumed an important position in world markets, and many opinions have been expressed regarding a future shortage of supplies. Reassurance that the present shortage would not continue was given by Sir Auckland Geddes, chairman ,of the Rio Tinto Company and Rhokana Corporation, in a recent address in London. “ There will be adequate supplies, but for the moment there is a definite shortage.” said Sir Auckland. “ For a little while it is not possible to bring forward to market all those vast quantities of metal required to keep the market steady, but it is coming. “ 1 can assure you that it is no part of the policy of those who are responsible for the production of copper that it should run away in price, as it has been doing recently. It is far from our desire. Demand has been piled on demand, and speculation has been piled on top of that.” Similar views were expressed by Mr A. J. Grant, managing director of John Brown and Co. Ltd., in an address at Sheffield. He doubted whether the excess of demand for iron and steel above the supply was as great as had been stated. The question was how long the increased prosperity of the steel trades was going to last. For the first time active steps were being taken by the industry to see that there was not a big and uncontrolled rise in prices. It was a complicated business, but good progress was being made. Many people had said the prosperity was largely due to the national defence programme, but in Sheffield they knew that the defence programme was only just beginning, from the manufacturing point of view, said Mr Grant. He saw no reason why the present good trade should not continue for many years. 1