FIA Japan recently welcomed London Metal Exchange as an Associate Member.
The London Metal Exchange is the world centre for industrial metals trading. Most of the world’s non-ferrous metals business is conducted on its three trading platforms: LMEselect (electronic), the Ring (open outcry) and the 24-hour telephone market. The global metals community uses the LME to trade futures and options to hedge against adverse price movements - prices which are discovered on their markets and used as global references.
In 2021, 145 million lots were traded, equating to $15.6 trillion and 3.3 billion tonnes notional with a market open interest high of 2.1 million lots. In December 2021, approximately 1.4 million tonnes of material were held on LME warrant in more than 570 storage facilities in 14 countries across 32 global locations.
Participants can transfer or take on price risk against aluminium, copper, nickel, tin, zinc, lead, molybdenum, cobalt, steel scrap, rebar and hot-rolled coil, aluminium premiums and alloys, as well as its suite of gold and silver contracts, LMEprecious. All LME trades are cleared by LME Clear, which provides clearing and settlement services for users of the LME on all Ring, electronic and telephone trades.
An HKEX Group Company, the LME also provides benchmark administration services to the platinum-group metals community.