London Metal Exchange -LME information:
London Metal Exchange (LME) is the world's largest non-ferrous metals exchange. LME prices and stocks of non-ferrous metal production and worldwide sales have a significant impact. In the mid-19th century, Britain was the world's largest producer of tin and copper. Over time, the growing industrial demand, the UK and urgently need to imports from abroad, a large number of industrial raw materials mining. From the beginning of this century, the London Metal Exchange prices began to publicly release its widely traded metal trade as the world's benchmark price. All the world's copper production by 70 per cent of London Metal Exchange Official List published as a benchmark for trade.
London Metal Exchange (LME) International membership system:
LME membership using the international system, of which more than 95% of the transactions from overseas markets. Trading products as copper, aluminum, lead, zinc, nickel and aluminum. Exchange trading is the open-outcry trading, such trading in the "circle" within, also known as a "trading circle", it's running under 24-hour telephone market and LME select a single screen trading system support . Announced a series of daily LME official prices, these prices in the industry as the metal spot price contract basis.
London Metal Exchange (LME) metals trading time program:
Each working day, non-ferrous metal trading hours in London Metal Exchange procedures are as follows: Greenwich Mean Time (GMT, 8 hours time difference with China, which together with 8 hours, is Beijing time) 7:00 makers time market making trading floor 11:40 am, the first trading city began, eight metal turns the trading 5 minutes after each transaction, the city is 5 minutes. 12:20,8 metals all sequential transactions, closed for 10 minutes. 12:30 Second City began trading, the order of each species is still trading at 5 minutes. 13:10 end of the second city of the transaction, announced the official offer eight kinds of metal, and for clearing. The morning of the second floor because the day of official trading decisions settlement price, so a special meaning. 13:15 end of the official offer, OTC (kerb) started all eight LMEX metals trading and trading at the same time. LMEX of floor trading is actually in this range, that is conducted outside trading hours, it did not own five-minute trading hours. During this period, eight metal species at the same time deal. Off-floor trading in the morning after the end of the closing price of the transaction into the indoors. 13:30 OTC (kerb) ended the morning trading come to an end, to electronic trading hours. In fact, electronic trading and floor trading at the same time, but focus may vary. London Metal Exchange, the second trading day (afternoon trading floor) 15:10 pm start. 15:10 starting the third trading market closed 10 minutes 15:50 15:55 16:35 fourth start trading market trading city of the fourth end, OTC (kerb) beginning 17:00 OTC (kerb) then beam, to electronic trading hours. Afternoon, no official offer.
London Metal Exchange, the second trading day began at 15:10 pm. Morning afternoon trading floor trading with a similar way, after the 16:35, then the OTC until 17:00, lasted 25 minutes. Morning and afternoon, with the difference between floor trading floor trading at a price not officially announced the settlement of this important program.
London Metal Exchange transactions:
LME price limits do not implement the system. Exchange Traded (ring) during each trading city, alternating each commodity trading 5 minutes; kerb trading transactions during the same time all the metal, while the index of the transaction; other non-trading hours (inter-office) for the electronic disk (24 hours transactions).
London Metal Exchange trading program table:
Morning the first time at the time the second section (Greenwich) Section III (Greenwich) 11.40 silver aluminum alloy 15.10 15.15 11.45 silver aluminum tin 11.50 15.20 11.55 Zinc Lead Copper 12.00 15.25 12.05 Aluminum Copper Lead 15.30 zinc and tin 15.40 15.35 12.10 15.45 Nickel 12.15 to rest Section IV of nickel copper alloy 12.35 12.30 15.55 lead 16.00 silver tin zinc 16.05 12.40 12.45 copper lead zinc 16.10 12.50 16.20 Al 16.15 Ni 13.00 Al 12.55 Ni 16.25 Sn 13.05 silver alloy 16.30
London Aluminium:
Aluminum is second only to the second largest steel metal. Because aluminum light, extension, and anti-corrosion and strong, aluminum is widely used in construction, packaging, electronics and other industries. In 2000, the global aluminum production reached 21,191,000 tons, the London Metal Exchange (LME) aluminum futures and options trading volume reached 25 million hands (about 6 million tons); 2001 1-7 month, the London Metal Exchange aluminum futures and options volume reached 15,170,158 hands (about 3.7 million tons). LME aluminum contract was 99.7% pure aluminum, each hand 25 tons (+ / -2%), aluminum contract minimum price fluctuation of 50 cents / ton.
London copper:
LME is the world's largest copper futures market, was established in 1876, trading products as copper, aluminum, lead, zinc, nickel and aluminum. Copper futures trading began in 1877, trading of copper, there are two: cathode copper: A grade copper rods: specifications for the weight of 110-125 kg of copper between the A-level. Cathode copper which the most active trading. All delivery of copper must be approved by the London Stock Exchange Grade A copper recognized brands, in line with British Standard BS6017-1981 classification specifications.
