Notice to Members
Notice No. 324
11/25/2002
Copper Warehouse Rate Change
El Paso Terminal Warehouses, Inc, a New York Mercantile Exchange, Inc. ("Exchange") Licensed Warehouse for the storage of copper deliverable against the COMEX Division's Grade 1 Copper Futures Contract, has submitted to the Exchange the following charges for the handling and storage of copper at its facilities located at 5850 Welch Avenue, El Paso, Texas. These charges will become effective on January 1, 2003 and completely replace El Paso Terminal Warehouses, Inc. previously published rates.

El Paso Terminal Warehouses, Inc. Effective: January 1, 2003
Handling Inbound per Short Ton:

$ 0.00
Handling Out Charge per Short Ton: $ 21.25
Monthly Storage Charge per Short Ton: $ 3.85
Issuing Warehouse Receipt (each): $ 0.00
Replacement of Warehouse Receipts (each): $ 10.00
Bill of Lading: $ 7.00
Insurance Premiums: $ 0.00
Blocking & Bracing per ton (as required): $ 3.25
Please be advised that the warehouses, at their discretion, may require handling and storage 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 January 1, 2003.

Specific to handling out charges, invoices prepared by COMEX Clearing for warrants issued prior to January 1, 2003 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 warehouses have been prepaid the handling out charges based on the old rate, the party shipping the metal out on or after January 1, 2003, 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