Nickel
The LME Primary Nickel contract was first traded in April 1979 when it's current specification was introduced to the market.
The ring trading times for Primary Nickel are as follows:
Ring trading times for Primary Nickel
| Ring |
Time |
| Ring 1 |
12.15-12.20 |
| Ring 2 |
13.00-13.05 (Official Ring) |
| Kerb |
13.15-15.10 |
| |
| Ring 3 |
15.25-15.30 |
| Ring 4 |
16.05-16.10 |
| Kerb |
16.15-16.45 |
For details of the Primary Nickel 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 Nickel Futures Contract Specification |
| Contract |
Primary Nickel of 99.80% minimum purity with chemical analysis conforming to the current ASTM: Designation B39 - 79 (reapproved 2004) |
| Lot size |
6 tonnes (with a tolerance of +/- 2%) |
| Form |
- Full Plate
- Cut Cathodes
- Pellets
- Briquettes
|
| Weight |
- Bundles shall not exceed 1.6 tonnes in weight
- Packed in sound steel drums with an even net weight (+/-2% more or less) of minimum 150kgs and maximum 500kgs
- Packed in sound steel drums with an even net weight (+/-2% more or less) of minimum 150kgs and maximum 500kgs
- Packed in sound steel drums with an even net weight (+/-2% more or less) of minimum 150kgs and maximum 500kgs
|
| 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 21 months out to 27 month forward. |
| Quotation |
US dollars per tonne |
| Minimum Price Movement |
- Ring - Outright $5.00, Carries $0.01
- LME Select - Outright $1.00, Carries $0.01
- Inter-office - Outright/Carries $0.01
|
| Clearable currencies |
- US dollar
- Japanese Yen
- Sterling
- Euro
|
| LME Nickel Options Contract Specification |
| Delivery dates |
Monthly from the first month out to 27 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. |