Word: coppermen
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Dates: during 1950-1959
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...resumed on the London Metal Exchange for the first time in almost 14 years, spot copper, which had been artificially pegged by the British government at 31? a Ib., nosedived to 26.3? on the first day. Before the week ended, the price was back up to 28?, but coppermen felt that this was only a short reprieve. Britain has not yet begun to sell copper from its null stockpile, and Chile, which has kept 65,000 tons off the market in fond hopes of getting 36? a Ib., now is anxiously ready to sell at the world price...
...have to revise their price lists. The price of artillery shells, bomb fuses and many another military item bought by the Defense Department was sure to go up. Were these sudden price increases an abuse? In the case of copper producers, it scarcely seemed so. The profits of the coppermen have been dwindling, squeezed between higher labor costs and the ceilings. Moreover, at a time when domestic producers have been frozen at 24½? a lb., the U.S. fabricators have been paying the world price of 36? a lb. to Chile, for copper produced mainly by U.S. companies there...