THE PRICE OF SCHEELITE.

Pelorus Guardian and Miners' Advocate., Volume 29, Issue 48, 22 June 1917, Page 5

THE PRICE OF SCHEELITE.

FIXED SCHEDULE IN AMERICA. The "Mining and Scientific Press," in its edition of 12th May last quotes the following in respect to the ruling price of tungsten: "On May Ist the new schedule for domestic tungsten ore came into operation and the Atolia Mining Company is now quoting 20 dollars per unit on. the basis of 60 per cent, assay, with 30 cents added for every unit above. Thus high-grade ore, running about 65 per cent, would command a price of 21.50 dollars, and 70 per cent as much as 23 dollars per unit. Anticipating this advance in price, buyers rushed to contract before the new schedule came into operation and the month of April has probably seen the largest business ever done during any thirty days in tungsten. The quantity disposed of in the New York market reached close to 1000 tons, and contracts were closed to cover every month of this year. Eighteen dollars was just as readily paid for November deliveries as it was for prompt material. At the present moment, no ore of known on reliable assay is available for immediate delivery. The quantities of foreign ore on the way to New York of known assay have already been sold while afloat. Foreign ore in New York is mainly composed of ore, which, on account of its impurities, is not readily salable, and such ore is commanding a price of about 18 dollars for prompt delivery. France and Italy have again appeared in our market as buyers of considerable quantities of tungsten but have as yet not followed our advance, though the indications are that they will soon come into line again. The prospects of the tungsten market are exceedingly good and steady, and it is anticipated that there will be a continuation of the prices now ruling for some time to come."