The Ring, our open-outcry trading floor, is central to the process of price discovery. The LME Official Price, LME Unofficial Price and LME Closing Price are all, or in part, discovered on the trading floor.
Ring sessions & trading times
Each LME metal is traded in highly liquid five-minute Ring sessions which are themselves representative of global supply and demand.
Trading on the Ring begins 11.40 and closes at 17.00.
Open outcry and unique prompts
Open-outcry trading is particularly important for the LME because of its unique prompt-date structure. There are up to 200 tradable dates per LME metal and open outcry is the most efficient way of trading multiple dates.
Ring trading runs concurrently with the LME's other platforms, LMEselect and the inter-office telephone market.
Only these members can trade in the ring. There are currently twelve Ring-dealing members at the LME.
Find a Ring-dealing member
Ring trading data
A comprehensive set of trading data from the Ring is available via licenced data distributors.