The London
Metal Exchange is the world centre for industrial metals trading. Most of the
world’s non-ferrous metals business is conducted on our three trading
platforms: LMEselect (electronic), the Ring (open outcry) and the 24-hour
telephone market.
The global
metals community uses the LME to trade futures and options to hedge against
adverse price movements – prices which are discovered on our markets and used
as global references.
In 2023, 149 million lots were traded, equating to $15 trillion notional
and 3.5 billion tonnes, with a market open interest high of 1.8 million lots.
In December
2023, 1,163,830 tonnes of material were held on LME warrant in more than 450
storage facilities in 14 countries across 32 global locations.
Participants
can transfer or take on price risk against aluminium, copper, nickel, tin,
zinc, lead, molybdenum, cobalt, lithium, steel scrap, rebar and hot-rolled coil
as well as aluminium premiums and alloys.
All LME trades
are cleared by LME Clear, which provides clearing
and settlement services for users of the LME on all Ring, electronic and
telephone trades.
An
HKEX Group Company, the LME also provides benchmark administration services to
the platinum-group metals community.