The North American copper market has been rattled by the closure of Asarco’s Amarillo, TXwirerod mill in August and a salary-related strike at Nexans wirerod mill in Montreal, Canadaduring September. As a result, there is currently a shortfall in the availability of copper wirerodin the US. This has led buyers to seek material from outside North America e.g. Europe,despite the relatively lofty transport costs and import duty. Not surprisingly, there has been aspike in US wirerod premiums with spot quotes as high as 50-60 ￠/lb being reported.
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