ECONOMIC INTELLIGENCE WEEKLY

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP85T00875R001500150034-9
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 16
• Document Creation Date: December 22, 2016
• Document Release Date: September 29, 2009
• Sequence Number: 34
• Publication Date: August 7, 1974
• Content Type: REPORT

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Secret
z z
~~ STATES OF ~~
Economic Intelligence Weekly
Secret
CIA No. 8137/74
7 August 1974
Copy N2 381
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ECONOMIC INTELLIGENCE WEEKLY
7 August 1974
Britain's Labor Government last week announced plans
to nationalize most of the shipbuilding, ship repairing,
and marine engineering industries. This action reinforced
thu Labor Party's commitment to increased state control
of industry and further discouraged private investors.
Italy has dropped its year-old price controls on industrial
goods but will continue a price freeze on seven basic
food categories, including bread and fresh meat. The
current program probably will be unable to prevent an
acceleration in inflation. Because of rising wages and raw
material prices earlier this year, consumer prices are
likely to increase at an annual rate of 25% during the
remainder of 1974.
The EC and the 20-Nation Arab League last week agreed
to establish a permanent commission to deal with the
problems of long-term economic cooperation. The com-
mission, whose ex.rt structure remains to be worked
out, is expected to hold its first meeting in November.
Slowdown in West German Export Boom; Export
volume fell 1% in the second quarter, the first quarterly
decline since 1972. (See page 6.)
Canada: Interest in Uranium Enrichment Plants; Two
consortia are making feasibility studies for the construc-
tion of gaseous diffusion plants. (See page 3.)
Canada clamped new import quotas on live cattle and
fresh and frozen beef from the United States and other
meat producing countries at a heated Cabinet session last
week. The quotas,. imposed without consulting the
United States, will sharply reduce US beef exports.
Scviet Grain Loss in the New Lands; Drought cuts crop
by 8 million tons. (See page 4.)
EC Beef Sale to the USSR Confirmed; Shipments from a
50,000-ton sale of French beef have already begun, and
trade sources report a second 50,000-ton sale. (See page
6.)
Yugoslavia's Food Directorate has announced that the
wheat crop will top 5.4 million tons, compared with 4.7
million tons in 1973. As a result, wheat imports are
expected to decline from 800,000 tons in FY 1974 to
150,000 tons in FY 1975.
East Germany: Self-Sufficiency in Nitrogen Fertilizer; A
large new complex under construction at Piesteritz,
being built with US and other foreign technology,
should make the GDR self-sufficient in nitrogen fertil-
izer by 1976. (Sne page 6.)
Impact of EC Beef Ban on Latin American Exporters;
Argentina stands to lose as much as $300 million in
export earnings this year. (See page 8.)
USSR: Purchases of Ammonia Plants Mushroom; A
$220 million order for four French ammonia plants is
the latest move in the Soviet drive to expand fertilizer
capacity in 1976-80. (See page 8.)
Japan's Finan. a Ministry last week moved unsuccessfully
to ease downward pressure on the yen. The dollar
continued to appreciate relative to the yen, breaking
through the 300 level for the first time since late
January.
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Secret
In Europe, the dollar closed mixed for the week in slow
trading. Gold declined $4 an ounce in a volatile market.
Copper, Lead, and Zinc Prices were down from their
July highs at the end of last week because of profit-
taking. Copper prices on the LME fell to 82.6 cents after
having risen to 92.8 cents on 29 July on news of
Anaconda's lower output and continuing wage negotia-
tions involving ether US copper companies. Lead and
zinc dropped 2 and 7 cents a pound, respectively, to
24.9 cents and 47.9 cents a pound. (See Metals Chart,
page A-3 in Economic Indicators Section.)
Saudi Arabia: Manpower Bottleneck; The domestic
modernization program will raise the already high
demand for foreign labor. (See page 1.)
Venezuela: Iron Ore Nationalization Comes Closer; US
firms probably will retain a role in production and
marketing. (See page 1.)
Jamaica: Further Bauxite Demands; The government
now wants equity in the companies and the return of a
sizable portion of the bauxite concessions. (See page
2.)
ii
Secret
Burma's Deputy Prime Minister, U L win, intends to
press US officials for $80 million or more of aid during
his visit to Washington in early October. His shopping
list will include food and other consumer goods needed
to prevent a recurrence of the June rioting over
shortages and high prices.
Prospects for Multinational enterprise in Latin America
(See page 8.)
The Economic Situation in South Vietnam, July 1974
(See page 8.)
Recent Data Concerning Internal Economic Activities
(See page A-1.1
Recent Data Concerning External Economic Activities
(See page A-?.)
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Articles
VENEZUELA: IRON ORE NATIONALIZATION COMES CLOSER
Caracas has announced plans to assume complete ownership of Venezuela's
iron ore mines by December 1974.
The present concessionaires, subsidiaries of US Steel and Bethlehem Steel,
probably will retain production and marketing functions under government-
administered service contracts. Negotiations on compensation and the companies'
future role are already under way because both sides are anxious to maintain a
steady flow of ore. Compensation based on depreciated book value probably will
be accepted by the companies to assure their continued access to Venezuelan ore,
which makes up about one-third of US iron ore imports and 11% of US
consumption.
To prepare for the changeover, the government has established commissions
to study the future administration of the mines and legal aspects of the
nationalization. Caracas wants to avoid disruption of production and expansion
programs during the takeover and recognizes the need for foreign technical and
managerial assistance at least for the next two to three years. In addition, the
government needs long-terns help in carrying out its plan for the rapid expansion
of steelmakin,; capacity.
Caracas may encounter labor problems as a result of the nationalization move.
Workers are concerneu that nationalization might bring cuts in their high wages
and disrupt fringe benefits such as subsidized commissaries, schools, and hospitals.
to the uninterrupted flow of iron ore to the United States.
SAUDI ARABIA: MANPOWER BOTTLENECK
Inadequate manpower sharply limits the ability of Saudi Arabia to spend its
oil wealth on internal industrialization. Although he has not spoken out on the
subject, King Faysal puts domestic modernization ahead of massive downstream
investment in other countries. American experts returning from the July US-Saudi
working group meetings confirm the immediate need for developing extensive
manpower training programs.
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Manpower training will be a slow process. More than half of the 1.5 million
labor force is nomadic or rural - hard to train and often hard to hold on the
job. Moreover, the population at large is only beginning to accept the kinds of
skills and jobs required for economic development.
Less than 10% of the 250,000 -workers entering
the labor force in the next five years will have high school diplomas, and many
vocational graduates are likely to have the wrong skills.
The Saudis may have trouble just getting a comprehensive training program
off the ground.
Saudi Arabia will have to depend even more on foreign manpower in the
next few years while awaiting progress in training its own nationals. Already the
backbone of the industrial labor force, foreigners now make up at least 20% of
all available manpower. The largest contingents are low-skilled workers from the
Yemens and Oman. Non-Saudis reportedly hold 80% of the professional positions
in the private sector and about 15% of the civil service jobs. Foreign professionals
and skilled workers come mainly from Egypt, Syria, Jordan, Lebanon, and Palestine.
Several thousand Americans and West Europeans work in the oil and other modern
industries.
This dependence on foreigners will increase in the near term as the domestic
industrialization program takes hold. Foreigners will be needed for the. construction
and operation of new industrial facilities and for the training of the Saudi work
force. The manpower bottleneck will induce Saudi planners to emphasize capital
intensive projects, money being no object. l
JAMAICA: FURTHER BAUXITE DEMANDS
On top of increasing taxes by 500% last spring, Jamaica is taking further
measures to squeeze every dollar out of its sizable bauxite resources. The final
phase of Kingston's renegotiation of bauxite contracts with a Canadian and five
US aluminum companies -- expected to begin in September - will deal with two
key government demands:
? reversion to Jamaica of reserves exceeding 25 years of company
needs and
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? acquisition of an equity in the Jamaican subsidiaries of the
companies.
Both demands will be strongly resisted by the companies. The excess reserves
could amount to as much as one-third to one-half of total Jamaican reserves of
about 1 billion tons. The government thus far has offered to pay only the value
of the surface rights of the land, presumably a fraction of the full value of the
properties. On the equity participation issue, Prime Minister Manley has at times
talked of demanding majority ownership in the subsidiaries. The government has
not yet specified what shares it wants. The companies expect that Jamaica will
settle initially for 10% or so, with provision for future increases.
Jamaica is already making plans for the exploitation of the assets to be
acquired. Manley has agreed to supply half the alumina - 215,000 tons annually --
required for a proposed 200,000-ton aluminum smelter. This plant is to be
established in Trinidad joinVy by the governments of Jamaica, Trinidad, and
Guyana, which is to provide the remaining alumina needed. Last week, following
a two-day vis't by President Echeverria of Mexico, Kingston also announced plans
to join Mexico in forming a joint company to produce alumina, aluminum, and
fabricated aluminum products. Although no details of the scheme were provided,
Jamaican-produced alumina presumably would be used to supply facilities to be
located in Mexico.
Many obstacles stand in the path of the projects. Financing has yet to be
found, and it will take several years for Jamaica to substantially expand
alumina-production capacity.
CANADA: INTEREST IN URANIUM ENRICHMENT PLANTS
Canada may become a major source of enriched uranium, as two consortia
are pressing ahead with feasibility studies for the construction of gaseous diffusion
plants.
SERU Nuclear of Canada, Ltd. -- an affiliate of the French Commissariat a
l'Energie Atomique (CEA) -- signed an accord on 25 July with two Canadian
development companies to study the feasibility of building an enrichment plant
in Quebec, using French gaseous diffusion technology. CEA set a target date of
December 1974 for completing the study, to be followed within three months
by a firm proposal if the project is practicable.
A competing proposal has been under study since 1971 by the British
Newfoundland Corporation (BRINCO), in association with West German and
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Japanese firms. Ottawa asked the United States last May to provide BRINCO with
sufficient economic and technical data to conduct a thorough feasibility study for
a uranium enrichment plant. BRINCO has considered sites where cheap
hydroelectric power is available - in Quebec, Alberta, Newfoundland, and British
Columbia. It hopes for approval of the project by 1976 in order to put a plant
into operation by 1982, when the capacity of present US plants will be insufficient
to meet Free World requirements.
A Canadian enrichment plant would be a private venture, subject to special
government approval. Because Canadian nuclear powerplants use natural uranium
as fuel, an enrichment plant initially would serve only the foreign market.
The results of the two feasibility studies probably will be favorable. Canada
has large uranium and hydroelectric resources. (Electric power represents 70% of
the operating cost of gaseous diffusion plants.)
SOVIET GRAIN LOSS IN THE NEW LANDS
hot and dry weather has killed
a large share of the grain crop in three New Lands oblasts that were expected
to account for 6% of Soviet production in 1974.
The affected area -- Tselinograd and Pavlodar oblasts and Altay Kray, along
the southern border of the New Lands -- contains about 10 million hectares of
grain, primarily spring wheat. Above-average June rainfall had promised a good
crop of almost 12 million tons. In the first half of July, however, scant rain fell
in these areas during the critical heading stage, and temperatures were well above
normal. Heavy rainfall and cooler weather during the third week in July were too
late to save much of the crop. As a result, we estimate that 8 million tons of
grain have been lost. This is about 4% of the total Soviet grain crop.
We intend to publish next week an updated estimate of this year's total grain
output in the USSR, based on an analysis of weather and other data through July.
4
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Major Area of Spring Wheai Loss
in New Lands
r
Each dot represents 5,uoo hectares
sown to spring wvheot
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Slowdown in West German Export Boom
Seasonally adjusted export volume fell by 15% in June, contributing to a
sharp drop in the monthly trade surplus. For the second quarter of 1974 as a
whole, volume was down 1%, compared with the previous period, the first quarterly
decline since 1972. The value of exports nonetheless continued to rise, as prices
turned up again. Because of the v!oridwide economic slowdown, prospects are for
little growth in the volume of West German exports or imports in the second
half. Since the terms of trade arc unlikely to deteriorate further, West Germany
has ,uod chance of matching the $12 billion trace surplus of the first half.
EC Beef Sale to the USSR Confirmed
A sale to the USSR of 50,000 tons of French beef from EC stocks has been
confirmed; nearly 10,000 tons has already been shipped. At 42 cents per pound,
the sale brought in $46 million and cost the EC Commission about the same amount
in subsidies.
East Germany: Self-Sufficiency in N-ttrogen Fertilizer
A large new complex under construction at Piestt;ritz should make the GDR
self-sufficient in nitrogen fertilizer by 1976. In July, trial rum if the first urea
plant began. The complex, the largest current investment project of the East German
chemical industry, will consist of two 1,360-ton-per-day ammonia plants and three
6
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Trends in West German Exports
*In terms of US $.
tSeasonally adjusted.
7
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Secret
urea plants producing more than one million tons a year (about 480,000 tons
of nitrogen). The ammonia plants will u6e US technology and Japanese equipment;
the urea plants are being built by Czechoslovakia using Dutch technology. East
Germany imported 238,000 tons of nitrogen in 1972 and increased imports, by
perhaps 20`/x, in 1973.
A $220 million order for 4 ammonia plants from France announced in early
August brings Soviet purchases since the fall of 1973 to at least 12. Meanwhile,
the USSR is negotiating for 4 more plants, this time from Japan. The Japanese
plants would add about 1.8 million tons in capacity to the 5.5 million-ton capacity
of the 12 plants already contracted for. This capacity, which would come into
operation in 1976-80 in support of the Soviet fertilizer program, would by itself
exceed the 4.2 million-ton increment in ammonia production planned for 1971-75.
Further additions will come from domestically supplied plants and, possibly, plants
purchased from Czechoslovakia.
Impact of EC Beef Ban on Latin American Exporters
The EC ban on beef imports is cutting deeply into Latin American exports
to EC countries, which totaled about $600 million last year. Argentina stands to
lose as much as $300 million in export earnings. Shipments for the first half of
this year declined 50%%, compared with the same period in 1973. Brazil, Paraguay,
and Uruguay also are being hit hard, setting off a frantic search for alternative
markets. The four countries have formally protested the ban and have approached
Australian, East European, and other producers to consider forming a producers'
group to stabilize trade and prices.
Prospects for Multinational Enterprise in Latin America
(ER IM 74-11, August 1974,
This memorandum delineates the substantial economic and political influence
of multinational corporations in Latin American countries. Many governments in
the area are now moving to neutralize this influence, largely by taking over MNC
investments. To retain an important presence in Latin America, the companies will
have to accommodate further to the desires of host governments and adopt more
flexible ways of doing business.
The Economic Situation in South Vietnam, July 1974
(ER IR 74-20, July 1974,
The July monthly discusses (1) Saigon's latest set of economic reforms,
(2) continued inflation, (3) rice production outlook and crop diversification efforts,
and (4) scrap metal exports.
8
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INTERNAL ECONOMIC INDICATORS
CNP'
Constant Markel Prices Avuraeu Annual
Avntallo Annual
Growth Bale Since
lituwlh Help Suit,,
I'ercunt Change
Lulus) Irvin Previous I Year Ihevmus
I'nivvur Chanel-
haleSt Item Pnrvn)us I Year J Mnnlli.
0uarter Over let 19111 Earlier aaerler
Month Merrill 19111 l iii ' Lath
r
United States
74 II
-0.3
3.0
--1.1
-1,2
Uni
ted State
s
Jun 74
2.1
8
8
21.9
e
J5A
Japan
74 I
-5.0
5.8
-3.6
-18.0
Jap
an
Jun 74
1.3
.
11.2
30,3
11
2
West Germany
74 1
1.2
3.5
1.5
5.0
We
st Germa
ny
May 74
1.2
7.1
14.4
.
10.0
France
73 IV
1.8
5.8
5.7
7.3
Fra
nce
Jun 74
-1.0
12.8
34.3
13.0
United Kingdom
74 1
-3.5
1.9
-4,4
-13.3
Uni
ted Kingd
om
May 74
2.1
10.9
24.5
35.0
Italy
73 IV
1.9
3,7
5.3
7,7
Ital
y
May 74
0.7
14.5
43.0
36.6
Canada
741
1.7
5.4
3.0
7.0
Can
ada
Apr 74
2.0
11.1
23.0
34.0
Average Annual
Growth Rate Since
Percenl Change
Average Annual
Growth Rate Since
Let'' train Previous I Year 3 Months
I'eisnnt Change
Latest train Previous 1 Year 3 Months
Month Month 1970 Earlier Earlier"
Manlh Munlh 19111 Earlier Earlier
United States
Jun 74
I 0
I 4.6
-0.1
2.4
Unit
ed State
s
Jun 74 1
1.0
1 0.1
11.1
11
7
Japan
Jun 74
-2.5
6.6
-0,9
-7.1
Jap
an
May 74
11.3
23.1
.
15.7
West Germany
May74
1.1
3.5
0
-0.7
We
st Germa
ny
Jun 74
6.3
0.9 6.5
France
May 74
2.4
6.1
2.4
-1.1
Fran
ce
Jun 74
8.0
13.8
10.9
United Kingdom
May74
-1.1
2.2
0.2
22.4
Unit
ed Kingd
om
May 74
10.5
1 G.L!
25.3
Italy
Apr 74
2.2
5.7
13.7
6.6
Italy
Jun 74
9.5
10.0
16.9
Canada
May 74
-0.5
6.2
2.0
2.5
Can
ada
Jun 74
6.5
11.4
15.5
RETAIL SALES'
I Year 3 Months 1 Month
Representative Rates Latest Date Earlier Earlier Earlier
United States
Dealer-placed finance paper
Jul 31
11.50
8.13
9.00
9.00
Japan
Call money
Jul 24
13.00
7.50
12.00
12.63
West Germany
Interbank loans(3Monlhs)
Jul 31
9.20
14.13
9.16
9.60
France
Call money
Jul 24
13.63
8.38
12.75
14.50
United Kingdom
Sterling interbank loan (3 m(i)
Jul 31
13.32
11.50
13.50
13.27
'Saesonslly adjusted.
"
Canada
Fi
Average for latest 3 months compared
nance paper
Jul 31
11.53
7.55
11.50
11.00
with average for previous 3 months
Euro-Dollars
Three-month deposits
Jul 31
13.31
11.35
11.53
13.41
.
Current Prices Average Annual
Growth Rate Since
Average /tnnual
Growth Rate Since
Percent Change
Latest train Previous I Year 3 Months
M
h
e
Percent Change
Latest Iron Previous I Year 3 Months
ont
Mon
t 1970 Earlier Earlier"
Montle Month 1910 Earlier Earl
United States
Jun 74
-0.7
9.2
7.6
10.7
Unit
ed States
Jun 74
0.1
0.8
5.8
ier
10
7
Japan
Mar74
-4.8
11.1
6.6
-1.8
Japa
n
Apr 74
-0.6
17.4
10.5
.
16
7
West Germany
Mar74
-1.3
8.2
5.6
14.6
Wes
t German
y
Apr 74
0.3
9.1
0.4
.
9.5
France
Apr 74
-3.1
6.1
15.0
5.5
Fran
ce
Feb 4
-0.3
11.9
9.0
14.9
United Kingdom
Mar 74
1.3
12.0
9.4
6.5
M
74
0
2
9
1
2
5
4
7
Italy
Doc 73
3.0
17.2
25.5
47.0
Unit
Italy
ed Kingdo
m
ay
vac 73
.
-
2.6
.
21.2
.
17.9
.
22
1
Canada
Apr 74
0.3
11.3
10.1
19.3
Cana
da
May 74
1.3
13.9
13.3
.
20.3
7 August 1974
Office of Economic Research/CIA
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EXTERNAL ECONOMIC INDICATORS
FXPt)IfTS'
Ioh
United States
Japa11
West Germany
Franco
United Kingdom
Italy
Canada
MPORTS"
Iall.
United States
Japan
West Germany
France
United Kingdom
Italy
Canada
Million 115 S
Jun 74 I 11,357
Jun 74
Jun 74
Jun 74
Jun 74
Jun 74
May 74
4,030
0,677
4,001
3,200
2,30(1
2,002
Cunwlnhvn
Million [IS S
40,600
24,010
43,043
22,251
17,111
13,316
12,012
32,110
10,03(0
29,013
10,010
13,013
9,401
10,077
lleirent
hhuu;pi
45.1
47,5
44.4
31.5
25.7
41.6
20.9
Cmnulalrvn
Million US S I'err.unl
Jun 74 8,022
Jun 74 4,058
Jun 74
Jun 74
Jun 74
Jun 74
May 74
TRADE BALANCE"
f o.h./f.o h.
United States
Japan
West Germany
France
United Kingdom
Italy
Canada
5,041
4,173
4,422
2,864
2,035
30,714
24,031
23,234
17,308
12.190
33.058 41.8
14,190 84.7
23,330 31.7
16,303 47.4
15,498 49.9
10,672 02.2
9,220 32.0
Lntusl Mmnh Cunmlative (Million US S)
Million US S 1974 1973 chen9e
Jun 74 -205 -203 -948 695
Jun 74 -21 -1,588 2,501 -4,089
Jun 74 1.536 12,329 6,483 5,b45
Jun 74 -82 -1,780 615 -2,395
Jun 74 -1,141 -0,123 -1,885 -4,238
Jun 74 -554 -3,993 -1,271 -2,722
May 74 107 616 850 -242
BASIC BALANCE"
Current and Long?Term-Capital Transactions
Lalust penod Cumulation (Million US S)
United States
Japan
West Germany
France
United Kingdom
Italy
Canada
Million US S 1973 1972
741 2,065 2,065 -1.006
Jun 74 -1,190 -8,401 -4,373
Apr 74 860 3,253 917
73 IV - 431 - 2,471 - 369
73 IV -1,394 -3,164 -1,954
7311 -336 039 971
741 -195 -195 -191
United States
Japan
West Germany
France
United Kingdom
Italy
Canada
Change
3,071
-4,027
2,336
-2,102
-1,210
-332
-4
End of 0dlom US S Jun 1970 Earlier rarlier
Jun 74 14.9 14.5 12.9 14.6
Jun 74 13.4 4.1 15.2 12.4
May 74 34.4 8.8 31.4 32.0
Jun 74 8.2 4.4 11.6 8.1
Jun 74 6.7 2.8 7.0 6.4
May74 5.5 4.7 6.2 5.4
Jun 74 6.1 1 4.3 6.0 6.1
'Seasonally adjusted.
"Converted into US dollars at current market rates of exchange.
7 P?rgust 1974
EXI'OHT PRICES
(IS S
United Stales
Japan
West Germany
Franca
United Kingdom
Italy
Called[]
1'nrcuul Chengo
Lnuisl Inuu Ihnvmus
Month Nonni
Jun 74 I 3.1
May 74
Apr 74
Mar 74
Mar 74
Jun 74
Mar 74
EXPORT PRICES
Notional Currency
United States
Japan
West Germany
Franca
United Kingdom
Italy
Canada
IMPORT PRICES
National Currency
United States
Japan
West Germany
France
United Kingdom
Italy
Canada
5.1
6.2
7.2
-1.2
7.2
Aveiallo Annual
Gtewlll (lute Since
I'un:enl Cluugle-
Lolosl hum 14uvmus I Yent
Mouth Month 19711 Iarlmr
Jun 74
May 74
Apr 74
Mar 74
Mar 74
Jan74
Mar 74
111711
11.8
17.2
15.1
13.1
11.0
10.0
14.2
2.5
--0.6
5.9
6.4
10.8
11.9
9.7 42.8
4.4 13.0
8.8 20.2
11.8 20.4
10.9 31.3
11.9 37.8
Avmage Annual
Growth aalu Smce.
Mouth Mmilh
Jun 74 I 0
May 74
Apr 74
Mar 74
Mar 74
Jan 74
Mar 74
EXCHANGE RATES Spot Rate
PS of 2 August 74
Japan limb
larkl
West Germany Mrkl
Francelrrmc) (Pound
United Kingdom sterhelp
Italy Anal
Canada (6ollarl
US S
Per Unit
0.0033
0.3887
0.2136
2.3845
0.0016
1.0220
19711
18.5
17.4
5.9
14.2
20.9
19.0
11.1
Average Annual
Itowlh note Sulcn
I Yuul
f.mhm
20.0
35.9
27.0
12.0
19.4
10.1
41.3
I Yeas
Enrher
47.8
02.4
23.3
52.1
60.9
65.5
33.8
Del: 66
20.41
54.61
5.79
-14.55
-3.50
10.80
TRADE-WEIGHTED EXCHANGE
As of 2 Augusl 74
United States
Japan
West Germany
France
United Kingdom
Italy
Canada
Dec. G6
-15.31
10.35
30.38
-16.80
-34.30
-25.72
7.94
18 Der. 19 Mar
1971 1073
2.31 -12.65
25.27 9.77
8.48 -3.09
-8.49 -3.11
-10.17 -12.71
2.43 2.44
20 Jot
1974
-1.83
-0.41
-0.05
-0.33
-0.90
-0.24
18 Dec
1971
-6.03
-3.19
13.42
-3.45
-20.13
-24.40
1.35
:1 Months
Lmlwr
14.7
30.2
1 U2.3
8.7
49.0
-9.0
80.1
19 Mat
1973
0.55
-14.99
8.40
-5.90
-5.76
-17.4d
2.99
20 Jul
1974
0.61
-1.73
0.05
0.45
0.03
-0.57
-0.07
3 Months
lam lint
14.7
14.0
31.9
32.7
44.5
52.2
60.8
"'Weighting Is based on each listed country's trade with 16 other industrialized
countries to reflect the competitive Impact of exchange-rate variations
among the major currencies.
Approved For Release 2009/09/29: CIA-RDP85T00875RO01500150034-9
3 Mmnhs
Earlier
34.8
18.4
19.4
177.0
107.4
125.4
103.0
 Approved For Release 2009/09/29: CIA-RDP85T00875RO01500150034-9
IVItIHL rlllL tb
1001----------_. _.. ! . . . . i
1972 73 74
New York Dealers'Price.
11 is 11 ,r
hd AuU
1974
l
73
Composite price. for Chicago,
Philadelphia, and Pittsburgh.
'Approximates world market price; frequently used by major world producers
and traders, although only small quantities of these metals are actually traded.
"Producers' price; covers most primary metal sold in the United States
553410 e.7.1
4011 LEAD
101
1972
soot TIN
550
500..
450
400 ?....
0
0
350',.--
245
1, . III :If. :1
)tit Am;
1374
A3
Approved For Release 2009/09/29: CIA-RDP85T00875RO01500150034-9