What is LME copper warehouse?
LME Copper stands for a group of spot, forward, and futures contracts, trading on the London Metal Exchange (LME), for delivery of Copper (Grade A), that can be used for price hedging, physical delivery of sales or purchases, investment, and speculation.
What is LME registered?
In order to guarantee quality and specification of delivered metal, the LME reviews, vets and approves individual metal producers to register their production as an LME brand.
What time does the LME open?
Trading Times are 11:40 to 17:00 GMT. Open-outcry is the oldest way of trading on the exchange, though nowadays the majority of trades are placed electronically. It is central to the process of price discovery, the way LME official prices are established.
What is the difference between Comex and LME?
Copper traded on the London Metal Exchange (LME), or LME copper, is priced per metric ton (MT), but COMEX copper, or contracts traded on the COMEX division of the New York Mercantile Exchange (NYMEX), are priced per pound.
What is LME copper Grade A?
More information
| Quality | Grade A copper must conform to the chemical composition of one of the following standards: BS EN 1978:1998 – Cu-CATH-1 GB/T 467-2010 – Cu-CATH-1 ASTM B115-10 – cathode Grade 1 |
|---|---|
| Brands | All copper deliverable against LME contracts must be of an LME-approved brand |
What is Cancelled warrant in LME?
Investors cancel their warrants because they want to take it out of the LME warehouse. This is important signal for market demand/supply fundamentals. A rise in CWs suggests stronger market demand for the LME metals, and deliveries thereof.
How does LME trading work?
The LME is a terminal market whereby every futures contract anticipates that a delivery will take place. While the majority of contracts are for financial purposes and are cancelled out by equal and opposite contracts, there is a physical commitment behind the original contract.
Is LME open on Saturday?
No, the London Metal Exchange is not open on weekends. The London Metal Exchange is open for trading Monday-Friday.
How do LME contracts work?
Is Steel traded on the LME?
Trading occurs in five-minute intervals in the following order: steel, aluminum alloy, tin, premium aluminum, copper, lead, zinc, nickel, and cobalt. Ring trading at the LME occurs between 11:40 am and 5:00 pm, however, inter-office telephone trading is available 24 hours a day.
What is the rate of 1 kg copper?
Unit conversion for Copper Price Today
| Conversion | Copper Price | Price |
|---|---|---|
| 1 Ton = 1,000 Kilograms | Copper Price Per 1 Kilogram | 9.08 USD |
What is LME copper 3 month?
LME Copper Closing Prices
| Contract | Price |
|---|---|
| 3-month | 9499.50 |
| Month 1 | 9504.50 |
| Month 2 | 9501.50 |
| Month 3 | 9499.50 |
What is off warrant metal?
If metal is not accompanied by an LME warrant (but sits in an LME approved warehouse) then it is “off warrant” and not deliverable against an LME contract.
What is LME sword?
The LME operates a secure electronic transfer system for LME warrants called LMEsword. The LMEsword system facilitates the transfer of ownership of LME warrants and stock reporting. Warrants are held in a central depository, are produced to a standard format and include a unique barcode.
Who regulates the LME?
the Financial Conduct Authority
From 3 December 2019, the LME is also authorised and regulated by the Financial Conduct Authority in respect of its benchmark administration activities under the European Benchmarks Regulation.
What is LME 3 month?
LME cash contracts are for settlement or delivery two Business Days forward from the trading day. A 3 Month price represents the price agreed to settle or deliver material 3 months from the time the price is agreed.
What is KERB trading LME?
Kerb-trading definition An informal trading period on the London Metal Exchange that takes place in the ring beginning at 1:15 p.m. GMT, and ending at 3:10 p.m. At this time, eight non-ferrous metals contracts and the silver index contract trade simultaneously.
Why did the LME stop trading?
LONDON — The London Metal Exchange said Wednesday it had been forced to halt the nickel market once again after a “systems error” allowed a small number of trades to go through below its newly imposed daily price limit. The LME said trades executed below the lower daily price limit would be canceled.
What is LME 3 month contract?
LME contracts The 3-month LME rolling contract (contract with the 3-month prompt date) is the most liquid contract on any given trading day – it’s the anchor price for the market. Most participants tend to “trade out” of the 3-month contract and “roll” into a contract with the desired prompt date.
Can LME cancel trades?
Moreover, in the event of “a significant price movement during a short period”, the LME can suspend trading and “may cancel, vary or correct any Agreed Trade or Contract.”
https://www.youtube.com/watch?v=hFmVxavfhqs