America Buying Much More of China Product Washington, May 28.
Industrial consumption of tung of in the United States has. increased early 70 per cent. since 1931, bring. {ing the total for 1995 to 127,600,000 pounds, according to a report by {the chemical division of the Depa ment of Commerce.
Virtually the entire supply came from China, original home of " the] tung tree, with "the exception of] relatively' small quantities from plantations on the Gulf Coast of the] United States, where development of an American tung industry Is under way.
The 1995 consumption Ngure compared with an estimated consump: Mien of, 121,800,000 pounds in 1938, with 105,000,000 pounds in 1983. and 175,000,000 pounds in 1092.
Based on the average domestic price of U.S. 18 cents per pound Quring the year, American manufacturers ald out nearly $23,000,000 for tung all in 1996, it was revealed by Mr. CE, Concannon, chief of the division. "'Tke paint and varnish Industry. used more than 75 per: cent. of the total consumption, aggre-wating 98,440,000 pounds in 1835. according "to the Bureau "of the The linoleum industry, second largest user of tung all, consumed 10,391,000. pounds in 1925, showing a Jeonsiderable increase over the 7300, 000. pounds consumed in 1932, total of 2,003,000 pounds was used in printing ink last year, compared with 713,000 pounds' in '1992, Considerable quantities of tung oil were used in the manufacture. of insulation materials for the electrical and wall board industries, the Department of Commerce report showed—Uniled Press.
The graph shows the average highest and lowest prices for each week of the Shanghai Gold Bar Market, the black area displaying the range of movements—By courtesy Dah Fah Yung.
Text read from the printed page and cleaned; old type leaves the occasional error.