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LME launches new December prompt dates for Official Prices

17 October 2011

The London Metal Exchange (LME) today extends its range of published Official Prices to include forward December prompt dates, which will replace the 15- and 27-month forward prompts.

The LME will publish Official Prices for December prompt dates for copper, aluminium, lead, nickel and zinc out to three years, and aluminium alloy and NASAAC for one year forward. Tin, steel billet, cobalt and molybdenum prompt dates will remain unchanged.

“The switch to the December pricing is a direct response to the needs of the physical industry, where there is a growing tendency for metal to be transacted on a yearly December-to-December basis,” said Peter Childs, Head of Price Discovery at the LME. “This change will make it easier for market participants to match their physical trades with their hedging activity.”

Official Prices for 15 and 27 months forward will continue to be published with the relevant December prompt dates up to and including Friday 20 April 2012.

~Ends~

Contact details

For further information or to speak to an LME spokesperson, please contact:

Kathy Alys
+44 (0)207 423 5803
kathy.alys@lme.com

Katie Evans
+44 (0)207 264 5524
katie.evans@lme.com

About the London Metal Exchange

The London Metal Exchange, a member of HKEx Group, is the world centre for industrial metals trading.

More than 80% of global non-ferrous metals business is conducted on our three trading platforms: LMEselect (electronic), the Ring (open outcry) and the 24-hour telephone market. The world’s metal community uses the LME to trade futures, options and LMEswaps, to hedge against adverse price movements – prices which are discovered on our markets and used as the global reference.

Participants can trade aluminium, copper, tin, nickel, zinc, lead, molybdenum, cobalt, steel billet and two regional aluminium alloy contracts. In 2014, 177 million lots were traded on the LME, the equivalent of 4 billion tonnes and $14.9 trillion in notional value.

At the close of the year, approximately 5.8 million tonnes of material was held on LME warrant in more than 670 storage facilities across 37 locations internationally.