The U.S. Mint received 17 offers from seven firms at prices ranging from 0.66845-0.6840 dlrs per lb for payment by standard check and 0.66695-0.68 dlrs per lb for wire transfer payment in a review of offers on 3701000 lbs of electrolytic copper it is seeking to purchase. Philipp Brothers N.Y. led with the lowest offers of 0.66695 for wire transfer payment and 0.66845 dlrs per lb to be paid by check followed by Cerro Sales Corp N.Y. with 0.6684 dlrs per lb on one mln lbs for wire payment and 0.6713 dlrs per lb on one mln lbs for standard payment. Firms in submitting offers elect to be paid by standard check or wire transfer with awards based on whichever of the two methods is more cost advantageous at that time. Cerro Sales also offered prices for wire payment of 0.6689 dlrs per lb on one mln lbs and 0.6693 dlrs per lb on 1701000 lbs. Cerros standard payment offers included 0.6719 dlrs per lb on one mln lbs and 0.6723 dlrs per lb on 1701000 lbs. Cargill Metals Minneapolis offered 0.67025 dlrs per lb for wire payment and 0.67275 dlrs per lb for standard payment while Elders Raw Materials Darien Ct. offered 0.6718 dlrs per lb for wire payment and 0.6735 dlrs per lb for standard payment on increments of 950000 lbs each. Other offers for wire transfer payment include 0.6759 dlrs per lb on 380000 lbs submitted by Deak International N.Y. 0.6789 dlrs per lb on the entire quantity by Diversified Metals Corp St. Louis and 0.68 dlrs per lb by Gerald Metals Stamford Ct. Other standard payment offers include 0.6819 dlrs per lb on 950000 lbs by Diversified Metals and 0.6840 dlrs per lb on the entire quantity by Gerald Metals. The Mint said the copper is for delivery the week of May 11 to Olin Corp East Alton Ill. The offers have a minimum acceptance period of three calendar days it said.
MINT REVIEWS OFFERS ON 3,701,000 LBS COPPER