Notice to Members
Notice No. 435 12/28/2000
Copper Warehouses Rate Changes
The following new rates for the handling and storage charges for copper have been submitted to the Exchange by Hayes Dockside, Inc. for its facilities located at 7200 North Peters Street, Arabi, LA and 6025 River Road, Marrero, LA. Hayes Dockside, Inc. is a COMEX Licensed Warehouse for the storage of copper deliverable against the COMEX Grade 1 Copper Futures Contract. The new rates for the handling and storage of copper will become effective on February 1, 2001. RATES AND CHARGES FOR COPPER Hayes Dockside, Inc. , New Orleans, LA Effective: February 1, 2001 Monthly Storage Charge per Short Ton: $4.25 Handling Inbound per Short Ton: $0.00 Handling Outbound per Short Ton: $24.50 Preparation of Warehouse Receipt: $0.00 Replacement of Each Warehouse Receipt: $0.00 Weighing per Short Ton: $0.00 Labor per Hour: $21.00 Bill of Lading: $7.50 Truck Loading Charge per Short Ton: $3.45 Rail Car Loading Charge per Short Ton: $4.50 Insurance Premiums: $0.00 Please be advised that the warehouse, at its discretion, may require handling fees based on the new rates for all copper physically in storage as of the effective date. That is, the old rates are not grandfathered for copper already in storage prior to February 1, 2001. Specific to handling out charges, invoices prepared by COMEX Clearing for warrants issued prior to February 1, 2001 should not call for reimbursements for handling out charges based on the new rates. Reimbursements for these warrants should be based on the old handling out rate because the warehouse was prepaid based on the old handling out rate. Though the warehouse has been prepaid the handling out charges based on the old rate, the party shipping the metal out on or after February 1, 2001, may owe the warehouses the difference between the old and new rates upon shipment, at the discretion of the warehouse. Clearing Members are advised to carefully review invoices to ensure that reimbursement payments are not made for charges that have not actually been prepaid by the market short. Should you have any questions or require any further information, please contact exchangeinfo@nymex.com
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com