ABSTRACT
Materials balance requires that the difference between domestic consumption and production of a metal be equal to net imports minus changes in inventories. The chapter shows how the difference between domestic consumption and production of each is divided between net imports and changes in inventories. Inventories of metal consist of private (producer and consumer) inventories as well as of the government stockpile. Without stockpile sales, there would have been rationing in the industry, but little rationing took place. When domestic production, consumption, and inventory changes have been determined, the residual is filled by imports. Stocks of copper and aluminium were acquired in the 1940's and 1950's under both the Strategic and Critical Materials Stockpiling Act and the Defense Production Act of 1951. Before 1967, the data for changes in private inventories used were calculated as primary production minus primary shipments.
