Tin
The LME Tin contract has been traded on the Exchange since it's establishment in 1877, although the current specification was introduced in June 1989.
The ring trading times for Tin are as follows:
Morning ring trading times for Tin
| Ring |
Time |
| Ring 1 |
11.50-11.55 |
| Ring 2 |
12.40-12.45 (Official Ring) |
| Kerb |
13.15-15.10 |
| |
| Ring 3 |
15.20-15.25 |
| Ring 4 |
16.00-16.05 |
| Kerb |
16.15-16.35 |
For details of the Tin 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 Tin Futures Contract Specification |
| Contract |
Tin of 99.85% minimum purity and conforming to BS3252:1986. Warrants issued after 1996 must conform to the chemical composition of BSEN 610:1996. |
| Lot size |
2 tonnes (with a tolerance of +/- 2%) |
| Form |
Ingots (Slabs will be referred to as ingots) |
| Weight |
12 - 50 kg each. Each parcel on warrant shall be delivered in bundles not exceeding 1.2 tonnes.
On or after 29 March 2004, ingots to weigh not less than 12kgs or more than 30kgs. |
| 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 $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 Tin 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. |