Brochures | London Metal Exchange

- Metals home
- All non-ferrous
  
  Non-ferrous prices discovered on our platforms are used as the global reference price.
  Featured Links
  
  LME Aluminium
  
  LME Copper
  
  LME Zinc
  
  LME Nickel
  
  LME Lead
  
  LME Tin
  
  LME Aluminium Alloy
  
  LME NASAAC
  
  LME Aluminium Premiums
  
  LME Alumina (Platts)
  
  LME Aluminium UBC Scrap US (Argus)
- All ferrous
  
  Our ferrous contracts are tradable on LMEselect and via the inter-office market out to 15 months.
  Featured Links
  
  LME Steel Scrap CFR Turkey (Platts)
  
  LME Steel Rebar FOB Turkey (Platts)
  
  LME Steel HRC FOB China (Argus)
  
  LME Steel HRC N.America (Platts)
  
  LME Steel HRC NW Europe (Argus)
  
  LME Steel Scrap CFR India (Platts)
  
  LME Steel Scrap CFR Taiwan (Argus)
- All EV metals
  
  Our cash-settled contracts are tradable out to 15 months on LMEselect or the inter-office market.
  Featured Links
  
  LME Cobalt
  
  LME Cobalt (Fastmarkets MB)
  
  LME Molybdenum (Platts)
  
  LME Lithium Hydroxide CIF (Fastmarkets MB)
  
  Lithium prices
- Platinum group
  
  LBMA Platinum and Palladium prices administered via our custom-built electronic auction platform, LMEbullion
  Featured Links
  
  LBMA Platinum
  
  LBMA Palladium
- Find out more about our battery-grade lithium hydroxide futures contract.
- Trading home
- Access the market
  
  Whether you are an industrial hedger, physical market trader or prop desk there are, broadly speaking, two ways of accessing our markets.
  Featured Links
  
  Find a member
  
  Become a member
  
  ISVs and connectivity providers
  
  Incentive programmes
  
  Fees
- Trading venues
  
  The LME provides the market with three transparent and regulated platforms for trading industrial metal contracts.
  Featured Links
  
  The Ring
  
  Electronic
  
  Telephone
  
  Trading times
- LME systems
  
  A set of robust systems and technologies underpin trading at the LME.
  Featured Links
  
  LMEselect
  
  LMEsmart
  
  LMEsword
  
  LMEmercury
  
  LME Group service status
- Volatility controls
  Featured links
  
  Volatility controls: price limits and price bands
- Contract types
  
  Our contracts allow all those along the metal supply chain, as well as investment communities, to hedge against or take on price risk.
  Featured Links
  
  Futures
  
  Options
  
  Trade at settlement
  
  TAPOS
  
  Monthly average futures
  
  HKEX-London Minis
  
  LMEminis
- Initiatives
  
  Find out more about our latest offerings
  Featured links
  
  Modernising the market
  
  Strengthening the market
  
  Sustainability
  
  New trading platform
  
  LMEpassport
  
  EV metals
  
  Metalshub collaboration
- Rulebook and notices
  
  The LME Rulebook sets out the rules and regulations of the London Metal Exchange.
- The LME is embarking on a programme of work to fully rebuild its electronic trading platform, LMEselect.
- Clearing home
- How LME Clear works
  
  LME Clear provides clearing and settlement services for users of the London Metal Exchange on all Ring, electronic and telephone trades.
  Featured links
  
  Account structure
  
  Service description
  
  Products cleared
  
  Business continuity
  
  Technology
  
  Fees
- Collateral management
  
  Members can associate any permutation of Standard Settlement Instructions (SSI)s to position accounts within the Clearing System.
  Featured links
  
  Acceptable collateral
  
  Haircut methodology
  
  Secure payment system
  
  Third party suppliers
  
  Warrants as collateral
- Risk management
  
  LME Clear has a robust Risk Management Framework that provides the structure for clear risk policies, processes and internal control mechanisms.
  Featured links
  
  Credit risk management
  
  Default management
  
  Margin parameter files
  
  Margin information
  
  SPAN files
- Membership
  
  Find out more about becoming an LME Clear member.
  Featured links
  
  Become a clearing member
  
  Clearing members
  
  Application pack
  
  Connectivity
- Rules and regulations
  
  The Rules set out the main rights and obligations of LME Clear and the Members.
  Featured links
  
  Client information
  
  Disclosure and transparency
- LME Clear reports
  
  Member-only and free-to air reports showing cleared volumes, SPAN files, CPMI IOSCO disclosures.
  Featured links
  
  Daily volumes
  
  CPMI IOSCO Disclosure
  
  SPAN files
  
  Margin parameter files
- Find out more about stakeholder facing projects being undertaken by LME Clear.
- Market data home
- LME reference prices
  
  Find out more about LME's reference prices.
  Featured Links
  
  LME Official Prices explained
  
  LME Unofficial Prices explained
  
  LME Closing Prices explained
- Reports and data
  
  Access free of charge market data reports or purchase historical data.
  Featured links
  
  3rd Wednesday monthly futures quotes
  
  Monthly averages
  
  Monthly overview
  
  Volumes
  
  Open interest
  
  Futures banding
  
  Warrant bandings
  
  Commitments of traders
  
  Historical data for cash settled futures
  
  Warehouse and stock reports
  
  LME Clear reports
- Accessing market data
  
  Find out how to access LME Market Data.
  Featured Links
  
  LMElive
  
  Licensed distributors
  
  Reference and transparency data
  
  Historical data
  
  XML next day feed
- Market data licensing
  
  License LME Market Data for a wide variety of purposes.
  Featured Links
  
  Data distribution
  
  Derived data
  
  Usage licence
  
  Non-display licence
  
  Financial OTC booking fee
- Disruption Events
  
  Find out more about the LME's Disruption Events
  Featured
  
  LME Nickel March 2022
- LMElive is the LME's own data application, providing customers with key LME pricing, information and tools.
- Sustainability and Physical Markets (SPM)
- Brands
  
  All metal delivered into LME-approved storage facilities must be an LME-approved brand.
  Featured Links
  
  Approved brands
  
  Chemical composition
  
  Listing process
  
  Samplers and assayers
  
  Responsible sourcing
- LMEpassport
  
  Read all about LMEpassport: the electronic certificates of analysis (CoA) and digital credentials register from the London Metal Exchange.
  Features links
  
  Sustainability disclosures on LMEpassport
  
  LMEpassport portal
- LMEsword
  
  The LME operates a secure electronic transfer system for LME warrants called LMEsword.
- Physical market benefits
  
  We provide the metal community with trusted global reference prices and a market of last resort.
  Featured Links
  
  Hedging
  
  Price discovery
  
  Price convergence
  
  Prompt-date structure
  
  Reference pricing
- Sustainability
  
  Metals are an essential enabler of a sustainable future, and as global demand for metals increases, so will the expectations on sustainable standards
  Featured links
  
  Advancing sustainability in the global metals industry
  
  Corporate commitments
  
  Sustainability disclosures on LMEpassport
  
  Sustainability Spotlight
  
  Responsible sourcing
  
  Sustainability webinars
- Warehousing
  
  The LME approves and licenses a network of warehouses and storage facilities around the world.
  Featured Links
  
  Warehouse network
  
  Approved warehouses
  
  Warehouse reform
  
  Reporting off-warrant stock
  
  Warrants
- Find out more about LMEpassport, a key component of the LME’s drive for a more sustainable future.

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A guide to the LME

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The essential element of the physical market

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Averaging solutions

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