Originally, the company produced only foundry castings at the 106 East 20th Street plant, but expanded to producing machined parts in the 1920’s. A Machine Shop building was leased until 1969 when a new Machine Shop building was built at 401 West 23rd Street.
MELBOURNE/BEIJING, July 12 (Reuters) - London copper shrugged off an early dip to trade higher on Thursday, while nickel jumped as much as 3.8 percent as base metals staged a fragile recovery from the recent trade war-driven sell-off. Heavy losses in the previous session had pushed London Metal Exchange (LME) copper to its weakest in an almost a year as trade tensions between the United States and China undermined confidence in demand for metals. "For now, prices have corrected as they take their lead from the global equity markets that have rallied off their lows but the metals volumes are thin," Malcolm Freeman, CEO of Kingdom Futures, wrote in a note. The bounce "appears to be no more than a correction ... with the possibility of more falls being ever present," he cautioned. FUNDAMENTALS * LME COPPER: Three-month LME copper was up 0.8 percent at $6,194.50 a tonne, as of 0711 GMT, following steep losses in the previous session when prices hit $6,081 a tonne, the weakest since July 25, 2017. * SHFE COPPER: Shanghai Futures Exchange copper closed up 1.3 percent at 49,000 yuan ($7,341.15) a tonne, above a one-year low of 48,390 yuan a tonne struck on Wednesday. * NICKEL: Nickel was the biggest gainer in the base metals complex, climbing as much as 3.8 percent to $14,410 a tonne in London, its highest in a week, while Shanghai nickel closed 3.6 percent higher. * TRADE: China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods in a move that rattled global markets. * FREEPORT: The Indonesian government is expected on Thursday to announce the details of a deal to acquire a majority stake in the local unit of U.S. copper miner Freeport McMoRan Inc, a source with knowledge of the matter said. * GLENCORE: Glencore Plc faces at least two lawsuits by U.S. shareholders accusing the big Anglo-Swiss mining company of having made false and misleading disclosures before it received a subpoena in a corruption probe, and its stock tumbled. * For the top stories in metals and other news, click or MARKETS NEWS * Stocks and commodities recovered slightly on Thursday as markets tried to consolidate from the previous session's steep losses when fears of an escalation in the U.S.-China trade war jolted investor sentiment. PRICES BASE METALS PRICES 0711 GMT Three month LME copper 6,194.50 Most active ShFE copper 49000 Three month LME aluminium 2062 Most active ShFE aluminium 14125 Three month LME zinc 2548 Most active ShFE zinc 21120 Three month LME lead 2190.50 Most active ShFE lead 19070 Three month LME nickel 14250 Most active ShFE nickel 114000 Three month LME tin 19435 Most active ShFE tin 144090 LME/SHFE COPPER LMESHFCUc3 706.21 LME/SHFE ALUMINIUM LMESHFALc3 -1922.20 LME/SHFE ZINC LMESHFZNc3 666.09 LME/SHFE LEAD LMESHFPBc3 452.78 ($1 = 6.6747 Chinese yuan) (Reporting by Melanie Burton and Tom Daly; Editing by Richard Pullin and Sherry Jacob-Phillips)
Over 100 Years Experience – Manufacturers of Bronze Bearings, Bushings, and Continuous Cast Bars Since 1913