Beckett Bronze Company was incorporated May 21, 1913 as the Delaware Brass and Aluminum Company by a group of stockholders which included John Beckett, a molder, and his son, Charles. Charles Beckett eventually bought out the other stockholders, including his father, and managed the company until his death in 1960.
* Zinc stocks in LME approved warehouses halved since August
* U.S-China trade truce threatened by Huawei CFO arrest (Adds official prices) By Pratima Desai LONDON, Dec 10 (Reuters) – Copper prices slipped on Monday as Chinese import data reinforced worries about growth in demand for industrial metals fuelled by the ongoing U.S.-China trade dispute, while a firmer dollar also weighed. Benchmark copper on the London Metal Exchange was bid down 0.6 percent at $6,107 a tonne after failing to trade in official rings.
Prices of the metal used in power and construction have mostly traded in a range between $6,000 and $6,400 since late September. “The import data is a drag on sentiment though we knew China growth was slowing, we saw that in the PMIs. The truce between China and the United States is under scrutiny, so we wouldn’t expect much upside,” said Julius Baer analyst Carsten Menke. “Demand is neither strong or soft enough to push prices either way at the moment. The dollar is always important.”
IMPORTS: China’s copper imports fell 3 percent in November from a year ago to 456,000 tonnes, but they were up 8.6 percent from October’s number at 420,000 tonnes. PMI: The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) for November ticked up to 50.2 from 50.1 in October. The sub-index for new export orders shrank to 47.7 in November from 48.8 in October. TRADE: The arrest of Huawei’s CFO by Canadian authorities on Dec. 1 at the request of the United States has roiled global markets due to concern it could torpedo attempts to thaw trade tensions between the United States and China. “We doubt the three months allocated to these discussions will be sufficient to adequately address all of the U.S.’s grievances,” said INTL FCStone analyst Edward Meir in a note. “They run the gamut from protecting U.S. intellectual property rights, addressing the issue of ‘forced’ technology transfers, increasing foreign ownership rights, addressing commercial hacking concerns and a push to remove or reduce credit subsidies for Chinese state-owned enterprises.” DOLLAR: The firmer U.S. currency makes dollar-denominated commodities more expensive for holders of other currencies. This is a relationship used by funds to generate buy and sell signals from numerical models. ZINC: Stocks of zinc in LME registered warehouses at 113,875 tonnes have halved since the middle of August to their lowest in more than 10 years.
That combined with a large position holding between 80 and 89 percent of warrants and cash contracts has created nervousness about nearby availability on the LME market. This can be seen in the premium for the cash over the three-month contract rising to $125 a tonne last week. It was still at an elevated $94 a tonne on Friday. Three-month zinc slipped 0.1 percent at $2,585 per tonne.
PRICES: Aluminium fell 0.2 percent at $1,950.50, lead was down 0.1 percent at $1,993, tin ceded 0.5 percent to $18,900 and nickel eased 0.8 percent to $10,825 a tonne.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Top Base and Precious Metals Analysis – GFMS ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Additional reporting by Tom Daly and Zandi Shabalala; editing by David Evans and Ed Osmond)
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Over 100 Years Experience – Manufacturers of Bronze Bearings, Bushings, and Continuous Cast Bars Since 1913