The extensions to prompt dates are as follows:
- High Grade Primary Aluminium and Copper Grade A contracts from 63 months to 123 months (ten years);
- Special High Grade Zinc and Primary Nickel from 27 months to 63 months (five years);
- Standard Lead from 15 months to 63 months (five years).
The Official and Unofficial prices remain unchanged. However, the Exchange will publish a new 27 month reference price for Standard Lead.
Traded Options and TAPOs tradable months will not be extended for any contract.
Prompt dates for the Tin, Aluminium Alloy, North American Special Aluminium Alloy (NASAAC), Plastics, Steel, Cleared Average Price Swaps, Index and LMEmini contracts remain unchanged.
Background:
- The LME is the world's premier non-ferrous metals market and achieved volumes of almost 93 million lots in 2007, an increase of 7% on 2006 figures and equivalent to $9,500 billion in monetary terms.
- Trading at the LME in non-ferrous metals, steel and plastics takes place across three platforms: through open-outcry trading on the ##Ring##; through an inter-office telephone market and through LME Select electronic trading platform.
- On 25 February 2008 the Exchange launched Mediterranean and Far East steel billet futures contracts.
