Lead
The LME Standard Lead contract was first traded in 1903 although the current specification was introduced in 1968.
The ring trading times for Standard Lead are as follows:
Ring trading times for Primary Nickel
| Ring |
Time |
| Ring 1 |
12.05-12.10 |
| Ring 2 |
12.45-12.50 (Official Ring) |
| Kerb |
13.15-15.10 |
| |
| Ring 3 |
15.00-15.05 |
| Ring 4 |
15.40-15.45 |
| Kerb |
16.15-16.40 |
For details of the Standard Lead 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 Lead Futures Contract Specification |
| Contract |
Lead of 99.970% minimum purity. Lead placed on warrant after 08/05/2001 must conform with graded lead chemical composition of BSEN 12659:1999 Standard entitled "Lead and Lead Alloys - Lead". |
| Lot size |
25 tonnes (with a tolerance of +/- 2%) |
| Form |
Ingots (pigs will be referred to as ingots) |
| Weight |
Up to 55 kg each.
Each parcel (bundles) placed on warrant shall not exceed 1.2 tonnes (01/06/1985-05/05/1992) or 1.5 tonnes after 06/05/1992. |
| Delivery dates |
Daily for 3 months forward and then every Wednesday for the next 3 months
and then every third Wednesday of the month for the next 9 months out to 15 month forward. |
| 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 Lead Options Contract Specification |
| Delivery dates |
Monthly from the first month out to 15 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. |