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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:

Miriam Heywood
+44 (0)207 113 8538
miriam.heywood@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 three quarters 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 and options, and to hedge against adverse price movements. Prices that are discovered on our markets are used as the global reference prices.

Participants can trade aluminium, aluminium alloycopper, tin, nickel, zinc, lead, molybdenum, cobalt, steel billet, steel rebar and steel scrap, and four regional aluminium premiums contracts. In 2015, 170 million lots were traded on the LME, the equivalent of 4 billion tonnes and $12 trillion in notional value.

At the close of the year, approximately 4.2 million tonnes of material was held on LME warrant in more than 600 storage facilities across 37 locations internationally.