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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 ammount is multipled by 2% to determine the surcharge in $/lb.

For  February, 2012 Previous month ( January ) Comex average= $3.67 $3.67 -$1.50  = $2.17 $2.17  @ 2% = $ 0.0434  /lb February  surcharge= $ 0.0434 /lb

The graph below shows the monthly Comex spot average for the last twelve months.