Contract specifications

Prices for the Platts Aluminium Transaction Premium DDP US Midwest index are generally published according to the US holiday schedule, please refer directly to the provider for the latest information on any amendments or changes.

Contract code	UP
Contract type	Futures
Deliver type	Cash-settled
Lot size	25 metric tonnes
Contract period	Monthly prompts out to 15 months
Price quotation	US dollars per metric tonne
Clearable currency	USD
Minimum price fluctuation	Venue	Outright	Carries
	LMEselect	$0.50	$0.01
	Telephone	$0.01	$0.01
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 + 1 Business 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 the Platts Aluminium Transaction Premium DDP US Midwest index which is available from 19:30 Eastern Standard time on the last trading 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

  _{¹ In 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.}

More information

For full contract specification details, please refer to the LME Rulebook and our disclaimer page:

LME Rulebook

Disclaimer page