Each of the reference prices published by the Exchange are derived directly from trading and provide transparent pricing for the global metals market.
LME Closing Price
What is it and how is it calculated?
The LME Closing Price (also known as the Evening Evaluation) is determined by the LME Quotations Committee with regard to the close of open-outcry (Kerb) trading on the Ring as well as trades, bids and offers (including indicative bids and offers) transacted throughout the whole day.
Watch how a scrap recycler uses the LME to manage risk