Warrant banding

Published daily, but containing data three days in arrears, the warrant banding report shows the number of market participants with a concentration of LME warrants.

The number of market participants are displayed by metal and across five bands:

  • 30 - <40%
  • 40 - <50%,
  • 50 - <80%
  • 80 - <90%
  • 90 - 100%

The report also displays the percentage of the total live stock that remains unreported for each metal. This occurs when warrants are not held with a member, or held on behalf of another party by an LME member.

The denominator of this ratio – live stock – represents LME live warrants and does not include holdings of metal where the warrant has been cancelled or not yet placed on warrant.

Please note that the holdings indicated in this table may no longer be held.

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NB: Due to a cyber-security incident that impacted a third-party software vendor of some member firms on 31 January 2023, such LME members have had challenges with the accurate reporting of certain position data. While the incident is in the process of being resolved, please exercise due caution when using warrant banding data published since 31 January.


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