Copper report released

Press, 9 March 1982, Page 5

Copper report released

PA . - Wellington The Commerce Commission’s report on the public inquiry, into the prices of copper and copper-based ingots, bars, and rods has been released, the Minister of Trade and Industry, (Mr Templeton) has said. The inquiry was conducted to determine whether the embargo on the export of copper scrap was causing any particular price distortions or inequities. The question had been the subject of a long-standing dispute between the copper scrap merchants and the scrap buyers in negotiating prices for scrap copper. “The Commerce Commission has found that the export embargo is not affecting the competitive buying and selling of copper-based material in New Zealand,

and did not find any evidence that price distortions or inequities existed as a result of the embargo,” Mr Templeton said. “The Commission had made no recommendations which will affect the present trading arrangements.” “However, the Commission has recommended a review of my department’s instructions governing the procedures to be adopted to approved export applications and also recommend that my department convene joint meetings of interested parties to resolve future disputes.” Mr Templeton said he had asked his department to revise the guidelines for dealing with applications to export copper scrap, and to seek comment from all interested parties.