Aluminium
The LME High Grade Primary Aluminium contract was first traded in 1978 although the current specification was introduced in June 1987. Since that time, the Primary Aluminium contract has become the LME's largest traded.
The ring trading times for Primary Aluminium are as follows:
Ring trading times for Primary Aluminium
| Ring |
Time |
| Ring 1 |
11.55-12.00 |
| Ring 2 |
12.55-13.00 (Official Ring) |
| Kerb |
13.15-15.10 |
| |
| Ring 3 |
15.15-15.20 |
| Ring 4 |
15.55-16.00 |
| Kerb |
16.15-17.00 |
For details of the Primary Aluminium registered brands, please see the LME website.
Current Sempra prices:
The prices quoted do not constitute an offer by Sempra Metals Limited to buy or sell any product.
| LME Aluminium Futures Contract Specification |
| Contract |
Aluminium of 99.7% purity (minimum) |
| Lot size |
25 tonnes (with a tolerance of +/- 2%) |
| Form |
- Ingots
- T-bars
- Sows
|
| Weight |
- 12-26 kg each. Parcels of ingots on warrant shall not exceed 2 tonnes each
- Shall not exceed 5% more than 750 kg
- Shall not exceed 5% more than 750 kg
|
| Delivery dates |
Daily from cash to 3 months (first prompt date two working days from cash).
Then every Wednesday from 3 months to 6 months.
Then every third Wednesday from 7 months out to 63 months. |
| Quotation |
US dollars per tonne |
| Minimum Price Movement |
- Ring - Outright $0.50, Carries $0.01
- LME Select - Outright $0.25, Carries $0.01
- Inter-office - Outright/Carries $0.01
|
| Clearable currencies |
- US dollar
- Japanese Yen
- Sterling
- Euro
|
| LME Aluminium Options Contract Specification |
| Delivery dates |
Monthly from the first month out to 63 months |
| Value date |
The third Wednesday of the prompt month |
| Exercise date |
The first Wednesday of the prompt month |
| Premium quotation |
US dollars per tonne |
| Strike price |
- $25 gradations for strikes from US$25 to US$3975
- $50 gradations for strikes form US$4000 to US$7950
- $100 gradations for all strikes over $US8000
|
| LME Traded Average Price Options Specification |
| Contract date |
The business day on which the contract is traded |
| Contract period |
Calendar months up to 15, 27 or 63 months forward (in line with the underlying futures contracts).
The inclusive period between the first business day and the last business day of the traded month. |
| Option type |
Calls & puts based on the monthly average settlement price (MASP) |
| Currency & strike price |
US dollars; $1 gradations |
| Premium tick size |
0.01 USD (one cent) |
| Premium payment |
Next business day after contract is traded |
| Settlement date |
Settlement is two business days after exercise.
The futures trades settle as per LME rules & regulations. |