Notice to Members
Notice No. 272 07/13/2004
Reporting Of Copper Warehouse Stocks
The New York Mercantile Exchange, Inc. has self-certified with the Commodity Futures Trading Commission notification of a new policy for the reporting of copper inventories at Exchange Licensed Warehouses. Currently, each Licensed Warehouse for copper reports to the Exchange on a daily basis the short tons of copper stored in the warehouse and the number of tons of copper received and shipped. All copper bearing an acceptable brand must be reported even though the copper is not weighed into contract units or intended for Exchange delivery. Effective Monday, July 19, 2004, all copper stocks bearing an approved brand even though the copper is not weighed into contract units or intended for Exchange delivery will continue to be reported. However, the copper stocks will be divided into two categories: (1) Warranted Copper Stocks and (2) Copper Stocks Not on Warrant. Copper Stocks Not on Warrant will reflect (1) the tonnage of copper represented by the warrants which have been returned to the warehouse for subsequent shipment and (2) copper which is stored at the warehouse for which a warrant has not been issued.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com