LME Unofficial Price

The Ring

Each of the reference prices published by the Exchange is derived directly from trading and provide transparent pricing for the global metals market.

What is the LME Unofficial Price and how is it calculated?

The Unofficial Prices are determined using a Volume Weighted Average Price (VWAP) for 3 months based on transactions from LMEselect over a specified 5-minute pricing period for each contract between 15.00 – 15.35. Where the minimum volume requirement threshold (MVR Threshold) is not met, the price will be determined using a waterfall methodology. All other Prompt Dates will be determined using available spread information.

How is it used?

The LME Unofficial Price is a good indicator of afternoon trading and is used as a reference price, especially in markets in different time zones.

Prompt dates

  • Cash, 3-month and 15-month: LME Tin and LME Steel Billet.
  • 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?

15.00 - 15.35 London time (excluding minor metals)


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
LME Asian Reference Price
Established 06.55 - 07.00 (07.55 - 08.00 BST*)
Provisional prices published 07.01 (08.01 BST*)
Confirmed at 07.03 (08.03 BST*);

* All times are London time unless stated otherwise
Stock inventories published
Ring open
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
12.30 - 13.25
20.30 - 21.25
07.30 - 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
LME Final Closing Price published from
LMEselect close



The prices set out here are not “benchmarks” (within the meaning given to this term in the UK Benchmarks Regulation (BMR). It is prohibited to use these prices as benchmarks.

The LME, its affiliates, and their directors, officers, employees, partners and licensors, shall not be liable (to the extent such limitation is permissible under law) for any use by any party of these prices as benchmarks contrary to article 29(1) of the BMR or under any applicable legislation enforceable in any jurisdiction which seeks to implement or otherwise enforce the prohibition set out in article 29(1) of the BMR.

The LME reserves all its rights in respect of any failure to comply with the terms of this disclaimer.

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