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.....

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