What are LME Official Prices and how are they calculated?
The LME Official Price is the last bid and offer price quoted during the second Ring session and the LME Official Settlement Price is the last cash offer price.
How is it used?
The LME Official Price is used as the global reference for physical contracts. The LME Official Settlement Price is the price at which all LME futures are settled.
Prompt dates
- Cash, 3-month and 15-month: LME Tin, LME Steel Billet, LME Cobalt and LME Molybdenum.
- Cash, 3-month and one forward December prompt: LME Aluminium Alloy and LME NASAAC.
- Cash, 3-month and three forward December prompts: LME Aluminium, LME Copper, LME Lead, LME Nickel and LME Zinc.
When is it published?
12.30-13.25 London time
Currency
USD (LME also publish exchange rates for EUR, GBP, JPY)
Trading day and price points
| Trading day and price points | London | Singapore | New York |
|---|---|---|---|
| LMEselect open |
01.00 |
09.00 |
20.00 |
|
LME Asian Reference Price
* All times are London time unless stated otherwise |
07.00 |
15.00 |
02.00 |
| Stock inventories published | 09.00 | 17.00 | 04.00 |
| Ring open |
11.40 | 19.40 | 06.40 |
| LME Official and Official Settlement Price established |
12.20 - 13.25 |
20.20 - 21.25 |
07.20 - 08.25 |
| LME Official and Official Settlement Price published |
12.20 - 13.25 |
20.20 - 21.25 |
07.20 - 08.25 |
| LME Unofficial Price established and published | 15.00 - 15.35 |
22.00 - 22.35 |
10.00 - 10.35 |
| LME Closing Price established |
15:50 - 17.00 |
22.50 - 00.00 |
10.50 - 12.00 |
| Ring close |
17.00 | 00.00 | 12.00 |
| LME Final Closing Price published from | 17.50 | 00.50 | 12.50 |
| LMEselect close | 19.00 | 02.00 | 14.00 |
Access these prices
The LME Official Prices are benchmarks administered by the LME pursuant to the UK Benchmarks Regulation (BMR) (and collectively constitute the LME Official Prices Benchmark Family).
For more information, please see the Benchmark Regulation page. This page also includes links to the BMR benchmark statement and methodology for the LME Official Prices.