Futures contract specification

LME Lead

Futures contracts are an agreement to buy or sell a fixed amount of metal for delivery on a fixed future date at a price agreed today.

Contract codes  PB 
Underlying metal  Lead of 99.97% purity (minimum) 
Lot size  25 tonnes 
Prompt dates  Daily: out to 3 months
Weekly: 3 out to 6 months
Monthly: 7 out to 63 months 
Price quotation US dollars per tonne
Clearable currencies  US dollar, Japanese yen, sterling, euro 
Minimum price fluctuation (tick size) per tonne    Outright Carries
Ring   $0.50  $0.01
LMEselect   $0.50  $0.01
Inter-office   $0.01  $0.01
Last trading day  Up until the close of the first Ring the day before the prompt date 
Settlement type  Physical 
Trading venues  Ring, LMEselect, inter-office telephone 


LME Lead contract specifications

This is a summary of the contract specifications. For full contract specification details, please refer to the LME Rulebook and for other information, please refer to our disclaimer page. 

Note that all contracts are subject to the LME’s rules and regulations and LME Clear span margining.