Washington Survey - Forces In The Mineral Market

The Nation's capital has one over- riding minerals-metals question: How long will prices and wages continue to move upward at the inexorable pace of the last year? Is the wage pattern to settle this year around 10%? The big industrial unions are coming into line, some of them later this year. Steel is standing in the wings for next year. Copper, steel, nickel and most other industrial metals have taken big hikes in their stride. Aluminum, which is making inroads into areas of industrial use formerly sacred to copper and some other metals, seems to be fighting to hold down its prices to attract customers from the higher-priced metals.