RAW MATERIALS.

Manawatu Standard, Volume LX, Issue 217, 12 August 1940, Page 10

RAW MATERIALS.

LAST WEEK’S CLOSING RATES. LONDON, Aug. 10. Friday's closing prices for raw materials were as follow, those for August 2 being shown in parentheses:— Cotton. —Liverpool quotation, good American middling, spot 7.84 d a lb (7.82 d); September, de-ivory, 7.41 d a lb (7.29 d). Rubber: Para, 13£d a lb (same); plantation smoked ribbed sheet, 13 l-16d a lb (13d). Linseed oil: £44 a ton (same): Turpentine : 53s a cwt. PRICES OF METALS. LONDON, Aug. 9. Prices of metals, with last week’s quotations in parentheses, are as follow ; Tin. Spot, buyers £265 a ton (same); sellers £265 5s (same); forward, buyers £265 5s a ton (same); sellers £265 lUn (same). Pig-ircn: 11s a ton (same). Antimony: British, £IOO to £lO2 a ton (same); foreign, £Bl to £B4 a ton, nominal (samej. Molybdenite: 48e to 52s a unit, nominal (same). Wolfram: Chinese, 50s a unit (same). MARKETS UNCERTAIN. LONDON, Aug. 10. War uncertainties dominate the free commodity markets. _ The possibility of Italian military action threatening to interrupt cultivation in Egypt and the Sudan proved the sustaining factor in the upward movement of cotton prices, especially of Egyptian descriptions. Likewise the increased fluidity of the Far Eastern situation reinforced the United States purchases plan as a factor in making for the firmness of rubber. Tin showed a strong resistance to the increase in the visible supplies. . Trade circles expect Far Eastern complications to stimulate restocking purchases as a safeguard against the interruption of shipments from that source. Meanwhile, it is thought that support is assured to the market by the United States’s huge buying, which will quickly arrest any declining tendency in tin prices.