Prices in Copper and Metals Market Rumors Surface
Unofficial reports claim copper may fix at 26 cents per pound with steel at 68 a ton and 10 percent bonus, pig iron at 38 a ton. Market shows a slight upward trend amid wartime conditions and hopes of government price controls.
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Pine Creek Mines Faces Shutdown Amid Strike Actions
The Wallace Press Times reports Pine Creek mines and related Douglas Highland Surprise and Constitution operations face layoffs as ore shipments to Washoe and planned Arkansas electrolytic plants influence decisions. About 60 Douglas workers are laid off, 40 remain, while surface crews await word from Spokane on ore shipments.
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Markets Report Mixed Corn Rise Wheat Steady Cattle Mix
Chicago and Minneapolis market notes show corn rising on cold weather futures while wheat holds firm or steady. Hog prices drop despite strong corn demand. Cattle receipts rise as markets soften, with mixed results for beef and lamb values. Copper and tin futures listed, metal markets show tentative strength, while a Denver Fed branch approval completes.
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Wall Street Close Sees Mixed Recovery Amid Treasury Support
Wall Street rallied from a sharp previous decline but faced opposition and uneven gains as the market trimmed losses. Call loans hovered near 6 percent before drifting to 4 percent on weak bids, while belated loans showed 6 percent. Allies loans and treasury moves aided short covering, especially in copper and steel, with United States stocks finishing broadly higher on light but varied volume.
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