As per notice 22/092
where an Official Price or a Closing Price is affected by a Disruption Event, the LME will publish these Disrupted Official Prices and Disrupted Closing Prices on the LME’s systems (including LME.com
) and on its market data feeds. However, such disrupted prices shall not formally constitute Official Prices and Closing Prices for the purposes of contracts that are not LME Contracts, or for derived data purposes. Users of LME prices may nonetheless opt to use these published disrupted prices should they wish to do so.
In addition, where a Disruption Event occurs and Disrupted Official Prices and Disrupted Closing Prices are used as the input data for the calculation of other prices including the MASPs, NAPs and MMAPs, this will impact the calculation and may impact permitted use of these prices for that Business Day. Notice 22/092 sets out guidance on the impact on these prices during a monthly averaging period in which a Disruption Event occurs.
Where a Disruption Event occurs, the price graphs and averages charts on the LME website will display prices that include Disrupted Official Prices or Disrupted Closing Prices (as applicable) for the affected metal and should not be relied upon. The LME shall update prices as soon as practicable in line with the guidance in notice 22/092, including the averages charts and price graphs, to reflect the input data used.
A full list of individual prices affected by Disruption Events can be found here.
For full detail on the March 2022 MASP calculation please see LME Nickel March 2022.