Copper Users Press London Exchange to Reduce Warehouse Backlogs
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A group of industrial copper users is pressing the London Metal Exchange to reduce growing queues at warehouses that they say are contributing to supply constraints and rising fees.
The group, which includes Southwire Co. and Encore Wire Corp., the two biggest U.S. manufacturers of electrical building wire and cable, wrote to the LME this month asking the exchange to make accessing the metal easier as U.S. premiums climb, said Robert Bernstein, a partner at New York-based Eaton & Van Winkle LLP, the firm representing the companies.