LME Aluminium Premiums Contract specifications
| Contract specification | Description | |||||
|---|---|---|---|---|---|---|
| Contract names | LME Aluminium US Premium | LME Aluminium West-Europe Premium | LME Aluminium East-Asia Premium | LME Aluminium South-East Asia Premium | ||
| Contract codes | AN | AW | AE | AS | ||
| Regions | Midwest and South US regions (as per US Census Bureau) | Western Europe (as per UN Geoscheme M49 classification) | Eastern Asia (as per UN Geoscheme M49 classification) | South-Eastern Asia (as per UN Geoscheme M49 classification) | ||
| Underlying metal | High-grade primary aluminium premium warrant in the designated region | |||||
| Lot size | 25 tonnes | |||||
| Prompt dates | Third Wednesday of each maturity month, subject to trading regulations | |||||
| Maturity months | Monthly out to 15 months | |||||
| Price quotation | US dollars per tonne | |||||
| Clearable currencies | US dollars | |||||
| Position limits | As appropriate position management regime will be implemented | |||||
| Minimum price fluctuation (tick size) per tonne |
Tick sizes to follow the main LME Aluminium contract:
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| Last trading day and time | By 19:00 (London local time) two business days before the third Wednesday of the contract month trading in the expiring contract | |||||
| Settlement type | Physically delivered
Seller provides: LME aluminium premium warrant in the designated region Buyer provides: Any LME aluminium warrant, PLUS the premium cash as agreed at contract formation, LESS the premium aluminium FoT charge at the warehouse where the LME aluminium premium warrant is delivered. |
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| Trading venues | Ring, LMEselect, inter-office telephone
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| Trading hours | Ring: Five minutes for all regions at end of Ring 2 for Official Prices and Afternoon Kerb for Closing Prices
LMEselect: 01:00 - 19:00 London local time Inter-office: 24 hours a day |
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| Margining | Initial and contingent variation margins applied per LME Clear risk management parameters | |||||
Contact us
For further information please email our Premiums team.