Sprott Physical Copper Trust Signs Deal to Ship Copper to US

MT Newswires Live
03-11

Sprott (SII) Physical Copper Trust has entered into an arrangement with an undisclosed specialized trading house to ship copper to the United States to "capitalize on the current price arbitrage" between The Commodities Exchange, or COMEX, and London Metals Exchange arising from the potential levying of tariffs on copper imports by the US.

The shipments will consist of COMEX-registered brands, Sprott subsidiary Sprott Assset Management said Tuesday.

Under terms of the arrangement, a portion of the Trust's copper will be shipped to the US and subsequently replaced by the counterparty at a location of the Trust's choosing. The total amount of copper the Trust holds will remain constant and the Trust's portion of the profit will be paid in cash, Sprott said.

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