Group SpA, a leading player in the global copper-processing
industry, has introduced a $40-per-tonne copper surcharge on
the metal value contained in its products, the Italian company
said this week.
worlds largest manufacturer of semifinished copper and
copper alloy products, excluding copper wirecited higher
copper premiums and increased risk and accessory charges.
Physical premiums have
risen above $100 per tonne in recent months throughout Asia,
Europe and the United States amid a run-up in inventories, as
warehouse companies have offered strong incentives to attract
metal into storage in Johor, Antwerp and New Orleans, where
there are large queues to withdraw copper.
Rotterdam copper premium published by AMM sister
publication Metal Bulletin was at $100 to $140 per
tonne June 17, up from $70 to $100 per tonne at the start of
closed the London Metal Exchanges official session at
$7,010.50 per tonne June 18.
PMX Industries Inc.,
Cedar Rapids, Iowa, also said recently that it would add a
copper surcharge to its products after a wall slide at
Kennecott Utah Coppers Bingham Canyon Mine forced it to
seek alternative sources of cathode.
A version of this
article was first published by AMM sister publication Metal