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The London Metal Exchange (LME) is a commodities exchange that deals in metals futures and options. The LME is a non-ferrous exchange, meaning the exchange does not trade iron and steel. Instead, tradable contracts include aluminum, copper, gold, silver, cobalt, and zinc.
Amazingly, what metals are traded on the LME? LME participants can trade and take or make delivery of aluminium, copper, tin, nickel, zinc, lead, aluminium alloys and premiums. Non-ferrous prices discovered on our platforms are used as the global reference price.
Frequent question, what are LME futures? LME futures provide members of the metal and investment communities with the unparalleled opportunity to transfer and take on price risk. A futures contract is the obligation to buy or sell a standard quantity of a specified asset (metal) on a set date, at a fixed price agreed today.
Moreover, how do you trade LME futures?
Likewise, what is CME and LME? In their introductory chapter, “An Introduction to Varieties of Capitalism”, Hall and Soskice set out two distinct types of market economy that implement capitalism: liberal market economies (LME) (e.g. US, UK, Canada, Australia, New Zealand, Ireland) and coordinated market economies (CME) (e.g. Germany, Japan, Sweden, …
What is traded on LME ring?
Commodities traded The LME offers futures and options contracts for aluminium, aluminium alloy, NASAAC (North American Special Aluminium Alloy), cobalt, copper, lead, lithium, molybdenum, nickel, steel HRC, steel rebar, steel scrap, tin and zinc.
What does ILO stand for?
ILO: International Labour Organization.
How do you read LME price?
So Monday’s cash price (the price that is being traded on the Monday) refers to the Wednesday delivery date, whereas Friday’s cash price refers to the following Tuesday. The delivery date of any LME contract, by which time either the position must be closed or a delivery will take place, is known as the prompt date.
What are metal futures?
What Are Precious Metals Futures Contracts? A precious metals futures contract is a legally binding agreement for delivery of gold or silver at an agreed-upon price in the future. A futures exchange standardizes the contracts as to the quantity, quality, time, and place of delivery.
Where are metals traded?
In the precious metal markets, the futures contracts offered by COMEX, NYMEX and others are a part of the wider global market for precious metals. They provide transparency and price discovery to the market. Options contracts on precious metal and precious metal futures are also offered by exchanges.
What is LME prompt date?
Prompt Date means the Business Day on which the relevant LME contract is to be settled, which in turn will depend on the tradeable date that has been traded and that has resulted in the LME contract.
Where can I trade metal futures?
The most common metals markets are gold, silver, platinum, palladium, aluminum, copper, lead, nickel, tin and zinc which can be traded on the New York Mercantile Exchange (NYMEX) and the London Metal Exchange (LME).
Are LME contracts futures or forwards?
Cleared forward contracts. As far as pricing is concerned, LME Options need a special treatment with respect to other listed and plain vanilla Options because their underlying is neither a futures nor a forward contract, but, rather, what can be described as a “cleared forward contract”.
Is Japan a CME or LME?
Japan, Germany and France are often considered to be ‘coordinated market economies’ (CMEs) where corporate ownership, finance, inter-firm relationships and industrial relations all display higher degrees of coordination based on relationship-specific assets and long-term, cooperation ties (Hall/Soskice 2001b).
Is China a CME or LME?
In sum, the available evidence suggests that China looks neither like a CME nor like an LME in terms of internal structures of firms. However, if forced to pigeonhole it into either category, a higher degree of structural similarities would suggest classification as an LME.
What is LME hedging?
The LME offers those at all stages of the metals supply chain the opportunity to hedge their price risk and gain protection from adverse price movements. Hedging is the process of offsetting the risk of price movements in the physical market by locking in a price for the same commodity in the futures market.
Is gold traded on LME?
In 2019 and 2020, a bullion price rally pushed trading in London and on New York’s Comex exchange to record levels, with about a billion ounces of gold changing hands in each venue in March 2020. The LME’s contracts have not traded since mid-2020.
What is the best thing to scrap for money?
- Scrap Cars.
- Car Batteries.
- Plumbing Brass.
- Sealed Units.
- Appliances. Refrigerator. Range/Oven. Microwave. Washer/Dryer.
- Stainless Steel (Non-Magnetic)
- Lead.
- Transformers.
Will scrap prices go up in 2021?
2021. With copper prices continuing to rise and topping over 8-year highs we have seen scrap market prices increasing across almost all boards. With massive purchases of scrap copper and other commodities flying into China, we have seen markets increasing what seems like every other day in the last month and a half.
What is LME closing price?
The LME Closing Price (also known as Valuations) is determined by the LME Quotations Committee with regard to trading on LMEselect as well as trades, bids and offers transacted throughout the whole day.
