Moves to re-form an international zine cartel The Financial News understands, will be made almost immediately now that the position of the industry in this country has been settled by the increase in the import duty on foreign zinc.
Although the price of spelter on the London Metal Exchange rose 2s. 6d. yesterday to £14 is. 3d—the highest price this year—the movement resulted from the generally improved political sentiment in stock and commodity markets rather than from any marked confidence that efforts to resuscitate the zinc cartel would succeed.
Imperial Smelting Ordinary improved to 12s. 6d. at one time yesterday but were finally unchanged on balance at 12s. There was some—profit taking following the recent rapid rise.
Text read from the printed page and cleaned; old type leaves the occasional error.