10/12/2005
RATES AND CHARGES FOR COPPER
| South Jersey Port Corporation |
Effective: January
1, 2006
|
| Monthly Storage Charge per Short Ton: | $3.95 |
| Handling Inbound per Short Ton: | $5.50 |
| Handling Outbound per Short Ton: | $22.00 |
| Weighing per Short ton: | $5.00 |
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, 2006.
Specific to handling out charges, invoices prepared by COMEX Clearing for warrants issued prior to January 1, 2006 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, 2006, 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.