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Contract types

Participants can trade one of our 11 underlying metals using futures, options, TAPOs, LMEswapsLMEminis and our index product, LMEX.

Our contracts allow all those along the metal supply chain, as well as investment communities, to hedge against or take on price risk. Designed with the metal community at its core, our daily, weekly and monthly prompt date structure mirrors physical trading.

All LME contracts are traded in lots - which vary in size from 1 to 65 metric tonnes depending on the underlying metal - and are priced in US dollars.

The LME publishes official exchange rates to enable settlement in pound sterling, Japanese yen and euros, as well as US dollars.

Prompt date is the date by which an LME warrant must be delivered by the seller and paid for by the buyer of a futures contract. Also known as ‘settlement date’