LME not an option for European copper processors: Aurubis

Sep 26, 2012 | 12:48 PM | Mark Burton

Tags  Aurubis LME warehouses, copper stocks, copper premiums, copper concentrates, copper scrap, mark burton

LONDON — Copper processors in Europe cannot practicably buy metal for physical consumption from the London Metal Exchange due to low copper inventories in LME-approved warehouses in the region, Aurubis AG said in a monthly note.

The Hamburg, Germany-based copper smelter noted that there are only about 16,000 tonnes of copper in European LME warehouses, and 10,000 tonnes of that inventory are in Vlissingen, Netherlands, where there is a large queue to withdraw metal. "Therefore, the LME is not actually an option for European processors, who rely on physical deliveries from nearby destinations," Aurubis said.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results