55. Mr. Edward M. Taylorasked the President of the Board of Trade what is the current price of copper in the free market; what was the average price in 1965; and if he will make an estimate of the effect this increase will have on industrial costs in 1966.
§ Mr. DarlingThe settlement price for cash copper wirebars today on the London Metal Exchange was £687 a ton. The average daily price in 1965 was £470 a ton. The amount of copper bought on the basis of L.M.E. prices which is consumed in the United Kingdom varies from one period to another. The price also fluctuates. No useful estimate can, therefore, be made of the effect of current prices on industrial costs in 1966.