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COMEX & US Copper Smelters

Many times what the COMEX posts does not mean that's what the smelters will pay. Over the years I have seen copper smelters in the US pay over COMEX (for Cu. Bright) such as COMEX + $0.01 up to COMEX + $0.08.

Reason: The cost to import Cu. Catchodes is much higher than paying a few cents per LB. over spot for domestic scrap. More than ever the costs of logistics will determine how far scrap can go, where it can be sold to, and from where. Commodities are becoming "regionalized".

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Trucking Rates in the USA

Since the new eLog System went in effect over-the-road trucking rates have gone sky-high. Anything under 560 miles (how many miles a driver can do in a 10-hour span) rates averaged $2.00 a mile. Hauls over 560 miles have averaged $3.00 a mile or more. Our drayage rates have doubled, and some of our carriers add a fuel surcharge (FSC) as high as 28%.