Price discovery Price discovery is one of the most important functions of the Exchange. The most reliable prices in any market are derived from those where the greatest concentration of trading takes place. While trading can take place at any time on the LME because of its flexibility, the greatest concentration of trading for each contract occurs during the five minute open outcry Ring sessions, especially the second Ring session.

	Procedures for the establishment of LME closing prices for non-ferrous metals, minor metals and steel. DOWNLOAD ( PDF KB )

Notices related to the procedures for the establishment of LME prices for non-ferrous metals, minor metals and steel.