11/13/18 Special Note to our Customers: Effective with new orders 1/1/19, the COMEX SURCHARGE and the COPPER PREMIUM are being combined to one surcharge called the COPPER SURCHARGE. There will be no change to the formula or how the values are calculated. The two values will simply be combined to show as one line on your invoice rather than two separate lines, and will be updated monthly. The monthly value will be posted here on our website.
The Comex base copper surcharge is to assist in offsetting the significant capital cost increases caused by the high level of Comex copper prices and their affect on the cost of producing all copper and copper alloy products. This surcharge became effective June 5, 2006 and applies to all products produced at Revere.
The Comex base copper surcharge is in effect when the previous month's Comex average exceeds $1.50/lb. The surcharge is calculated using the difference between the previous month's Comex average price for copper and $1.50/lb. This amount is multipled by 2% to determine the surcharge in $/lb.
For Dec, 2018Previous month ( November Comex average= $2.75 )
$2.75 -$1.50 = $1.25
$1.25 @ 2% = $ 0.0250 /lb
December surcharge= $ 0.0250 /lb
The graph below shows the monthly Comex spot average for the last twelve months.