Method Summary Table
Second market = Elemy
| Method Name |
Commitment (lbs/month) |
Premium ($/lb) |
Rate |
Product Type |
Contract Type |
| Hartree / Korea (Rod) |
500,000 |
COMEX + $0.0800 |
0.0800 |
ROD (Final) |
Monthly Commitment |
| Amrod / NJ (Rod) |
500,000 |
COMEX + $0.2650 |
0.2650 |
ROD (Final) |
Shared Commitment |
| Amrod / NJ @ Sark |
500,000 |
COMEX + $0.2750 |
0.2750 |
ROD (Final) |
Shared Commitment |
| Glencore / Africa (Cathode) |
750,000 |
COMEX + $0.0000 |
0.0000 |
Cathode |
Monthly Commitment |
| Glencore / QC (Cathode) |
No contract |
COMEX + $0.0600 |
0.0600 |
Cathode |
Spot Purchase |
| Nexans / QC (Rod) |
No contract |
COMEX + $0.2600 |
0.2600 |
ROD (Final) |
Spot Purchase |
| Nexans - Tolling only |
No contract |
Tolling @ $0.1800 |
0.1800 |
Tolling only |
|
Finance Options Table
| Finance Option |
Description |
Rate ($/lb) |
| Glencore - 15 days @ 1.5 cents |
Glencore 15-day financing at 1.5 cents per lb |
0.0150 |
| Glencore - 25 days @ 2.5 cents |
Glencore 25-day financing at 2.5 cents per lb |
0.0250 |
| Hartree - 45 days @ 4.4 cents |
Hartree 45-day financing at 4.4 cents per lb |
0.0440 |
| No Financing |
No financing charge applied |
0.0000 |
Valid Invoice Types
| Invoice Type |
|---|
| Provisional Invoice |
| Adjustment Invoice |
| Tolling Invoice |
Valid Rate Types
| Rate Type |
|---|
| Comex SPOT |
| Comex Month Average |
| Comex SPOT-FWD |
| Comex Prior Month Average |
| Special |
| N/A |
Important Notes
- Amrod / NJ (Rod) and Amrod / NJ @ Sark share a single 500,000 lb/month commitment.
- Purchases from either Amrod method count toward the same commitment volume.
Pricing and Adjustment Mechanism
- Invoice Price: Calculated from Total Invoice ÷ Pounds.
- Implied COMEX: Invoice Price minus the method premium.
- Projected Month Avg COMEX: Estimated from COMEX MTD blended with the latest close held flat for the remainder of the month.
- Expected Adjustment: (Projected Month Avg COMEX − Implied COMEX) × Pounds.
- Agreed Average COMEX: Official monthly settle once the month closes.
- Final Adjustment: (Agreed Average COMEX − Implied COMEX) × Pounds.
- Finance Charge: Selected finance rate × Pounds.
- Final Effective Price: Invoice Price + Adjustment + Finance, per lb.
Invoice Timing by Method
- Both Amrod methods: Provisional invoice @ COMEX MTD through invoice date; adjusted to current-month average once the month closes.
- Both Glencore methods: Provisional @ COMEX prior-month average; adjusted to current-month average.
- Nexans: Provisional @ COMEX prior-month average; adjusted to current-month average. Tolling invoices are flat $0.18/lb.
- Hartree: Provisional @ COMEX MTD; adjusted to current-month average.