Annual Review – Metal Mining

Trends in the metal mining industry were definitely down in 1954. With a record in 1953 of $1.8 billion output, the last year dropped to $1.5 billion, the lowest value since 1950. The decrease in iron ore production alone accounted for at least 10 pct of the decline. PROBABLY more than any previous year, political debates of 1954 marked a new high for the mining industry. Lead and zinc prices gave forth with minor rallies producing no real improvements. An anticipated drop in copper prices never came to be. Early in the year arguments for more free trade versus tariffs to restrict imports were voiced eloquently by Charles P. Taft, president, Committee for a National Trade Policy, and Andrew Fletcher, president, St. Joseph Lead Co.