50 Years Ago –JANUARY 1937– BASE METAL PRICES SOAR AGAIN ON

On Tuesday came the announcement that the copper production restriction agreement had been abandoned. This means producers in Africa, Chile and other countries, which are parties to the agreement, will be able to bring output at capacity. And in some cases there may be an enlargement of facilities. The word did not stop the advance; the price Wednesday rose to 13.5 cents to Canada’s mines.

Such a move has been forecast for several days, but it isn’t as significant as might be supposed. World copper producers have already reached and passed the theoretical production basis and it is probable that several of them were approaching the actual maximum capacity. In any event several months will elapse before the increased production will be felt. Reprinted from The Northern Miner, January, 1937.