UPDATE: "Copper quotation - What changes for you"

 Dear Lapp customer,

In the past few days we have informed you about the change in our copper price calculation. We understand that our quick reaction to the extraordinary market circumstances has surprised you.

With this change to a monthly calculation you will receive the copper average of the previous month. This means that you will continue to participate in price movements and we will, for example, apply the March average for the month of April. The current price movement suggests that this value will be lower from the next month onwards.

The following values are valid until 31.03.2020:
Low quotation:    534.40 EUR / 100kg
High quotation:   537,35 EUR / 100kg

These values correspond to the average quotations for the month of February, including 1% reference costs.

We will of course inform you of the new average value for April at the beginning of next month.

The same procedure is followed for the brass and aluminium surcharges, which are also calculated on the basis of the average quotation of the previous month and adjusted monthly.

We are convinced that with this change to a less volatile value we are creating a stable and common basis for calculation for you as a customer and us as suppliers.

In these economically turbulent times, we are available to you as usual.

Stay healthy.

Your LAPP team