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Pricing

The LME publishes a set of daily reference prices that are used the world over by industrial and financial participants for referencing, hedging, physical settlement, contract negotiations, margining and portfolio evaluations. Based on some of the most liquid trading sessions of the day, LME prices are good indicators of where the market is at any point in time.

LME reference prices

The LME Official and Settlement, Unofficial and Closing Prices are all based in whole (or largely) on trading activity on the Ring. The LME Asian Benchmark price is calculated using the trade-weighted average of trades transacted on LMEselect during the most liquid period of Asian trading hours.

Price convergence

The fact that LME futures can be physically settled plays a vital role in ensuring price convergence with the physical metals industry, ensuring that our prices properly reflect global supply and demand.

Price discovery and referencing

Price discovery is one of the most important functions of the LME. The prices discovered on the LME are used the world over as the reference price for physical negotiations.