|Deliver type||Cash settled|
|Lot size||25 metric tonnes|
||Monthly prompts out to 15 months|
|Price quotation||US dollars per metric tonnes|
|Minimum price fluctuation||Venue
|Termination of trading||Last LME business day of the contract month|
|Daily settlement procedure||LME Trading Operations will calculate daily settlement values based on its published procedure|
|Final settlement price published by the LME||Last trading day|
|Final settlement procedure1||Final settlement, following termination of the trading for a contract month, will be based on the reported arithmetic monthly average of Argus’ Aluminium Scrap Cans (UBC) mill grade delivered US price, which is available from Argus from 17.00 CST on the last trading day + 1 business day.|
|Trading venues||LMEselect and inter-office telephone|
|Trading hours||LMEselect||01:00 - 19:00 London time|
|Inter-office telephone||24 hours a day|
|Margining||Realised variation margins applied|
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.
1In certain circumstances, the cash-settled futures Index that is used as the Final Settlement Price for this cash-settled future may be known before the last trading date/time. In these circumstances, it will be possible for market participants to enter bids and offers, and to trade, in this cash-settled future on LMEselect and in the inter-office market on the basis of a known price. The Exchange shall not accept any liability for any losses that a market participant may incur as a result of trading activity conducted in these circumstances.