LME quarterly report - Q3 2025

Welcome to the LME quarterly report Q3 2025.

The LME quarterly report covers key developments in the base metals market focusing on ADV, price activity and futures open interest.

There is a deep dive into LME trading volumes, electronic liquidity to monthly (3W) contracts and cash-settled futures for ferrous and aluminium premiums. It examines trends in LME options for historic and ATM volatility over the past two years. 

The spotlight focus for Q3 is how the LME is progressing plans for market structure modernisation.

The LME appreciates any feedback and we’re always keen to understand what the market is most interested in seeing.

You will find a short survey at the bottom of the page to provide your feedback.

Market overview

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

LME trading volumes by venue

^{[Image opens in a new window]}

^{[Image opens in a new window]}

LME electronic liquidity 

^{[Image opens in a new window]}

7  

Cash and 3 month prompt date checker

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

LME monthly* contracts

 *3rd Wednesday (3W) contracts

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

Cash-settled-futures - ferrous and aluminium premiums 

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

LME options

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

Spotlight: LME progresses plans for market structure modernisation

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

^{[Image opens in a new window]}

Contact us

For more information please contact our Global Client Development team.

Contact us