Tin markets |
Market information |
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Click the name of the exchange or the name of the metal for more information of the exchange/specs/volumes/trading times
LME (London Metal Exchange) |
 The London Metal Exchange (LME) is the world’s premier non-ferrous metals market, with highly liquid contracts. It is an innovative Exchange, whilst maintaining its traditional strengths in a modern business environment. It remains close to its core users by ensuring its contracts continue to meet the high expectations of a demanding industry. As a result, it is highly successful, with a turnover value of some US$2,000 billion per annum. It is a major contributor to the UK’s invisible earnings, responsible for more than £250 million in overseas earnings each year. |
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First Session
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1st Ring
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11:50 - 11:55
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2nd Ring (Official)
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12:40 - 12:45
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Kerb Trading*
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13:15 - 15:10
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Second Session
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1st Ring
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15:40 - 15:45
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2nd Ring (Offical)
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16:20 - 16:25
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Kerb Trading*
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16:35 - 16:50
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*Approximate start time for kerb following declaration of the official prices at the end of each metal's morning ring 2 |
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LME Tin Contract Specifications |
LME Tin Futures & Traded Options
One of the two elements that shaped the Bronze Age, tin has played a major role in the development of civilisation as we know it. Today, tin’s primary use is in the form of tinplate, which accounts for over 30% of all tin consumed. The prolific growth of the electronic industry, has led to soldering being the second most important area of tin consumption.
Alongside copper, tin was the first metal to be traded on the LME from 1877. 1912 heralded the birth of the standard tin contract, which was suspended in 1985 following the tin crisis, and reintroduced in 1989. While the physical spot market is still centred in Kuala Lumpur, the LME contract has become the internationally accepted hedging tool, as it provides the forward reference price for the industry.
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LME Tin Futures Contract Specification
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Contract
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Tin of 99.85% minimum purity and conforming to BS3252:1986. Warrants issued after 1996 must conform to the chemical composition of BS EN 610:1996.
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Lot size
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5 tonnes (with a tolerance of +/-2%)
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Form
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Ingots (Slabs will be referred to as ingots)
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Weight
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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.
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Delivery dates
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Daily for 3 months forward and then every Wednesday for the next 3months and then every third Wednesday of the month for the next 9 months out to 15 months forward.
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Quotation
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US dollars per tonne
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Minimum Price Movement
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US$5 per tonne
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Clearable currencies
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US dollar; Japanese yen; sterling; euro
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LME Tin Options Contract Specification
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Delivery dates
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Monthly from the first month out to 15 months
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Value date
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The third Wednesday of the prompt month
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Exercise date
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The first Wednesday of the prompt month
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Premium quotation
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US dollars per tonne
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*Strike price
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$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
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*Strike price gradations and tick size for premiums available in all clearable
currencies |
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LME Tin Traded Average Price Options Contract Specification
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Contract date
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The business day on which the contract is traded
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Contract period
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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.
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Option type
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Calls & puts based on the monthly average settlement price (MASP)
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Currency & strike price
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US dollars :$1 gradations
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Premium tick size
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0.01 USD (one cent)
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Premium payment
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Next business day after contract is traded
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Settlement date
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Settlement is two business days after exercise.
The futures trades settle as per LME rules & regulations.
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The London Metal Exchange Limited
56 Leadenhall Street
London EC3A 2DX
UK
t: +44 (0)20 7264 5555
f: +44 (0)20 7680 0505
e: click here
w: lme.co.uk
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MCX (Multi Commodity Exchange of India) |
 MCX an independent and de-mutulised multi commodity exchange has permanent recognition from Government of India for facilitating online trading, clearing and settlement operations for commodity futures markets across the country. Key shareholders of MCX are Financial Technologies (India) Ltd., State Bank of India, HDFC Bank, State Bank of Indore, State Bank of Hyderabad, State Bank of Saurashtra, SBI Life Insurance Co. Ltd., Union Bank of India, Bank Of India, Bank Of Baroda, Canara Bank, Corporation Bank.
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MCX Tin Contract Specifications |
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Contracts Available for Trading
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January contract
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1st October of the earlier year to 31st January of the contract year
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February Contract
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1st November of the earlier year to 28th February of the contract year
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March contract
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1st December of the earlier year to 31st March of the contract year
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April contract
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1st January to 30th April of the contract year
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May contract
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1st February to 31st May of the contract year
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June contract
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1st March to 30th June of the contract year
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July contract
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1st April to 31st July of the contract year
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August contract
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1st May to 31st August of the contract year
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September contract
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1st June to 30th September of the contract year
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October contract
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1st July to 31st October of the contract year
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November contract
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1st August to 30th November of the contract year
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December contract
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1st September to 30th December of the contract year
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Trading Period
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Mondays to Saturdays
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Trading Session
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Monday to Friday: 10.00 am to 11.30 pm
Saturdays: 10.00 am to 2.00 pm
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Trading
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Trading Unit
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500 Kgs
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Quotation/Base Value
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Maximum Order Price
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4 Tons
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Tick Size (minimum price movement)
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25 paise per Kg
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Daily Price Limits
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4%
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Price Quote
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Ex-Bhiwandi (exclusive of all taxes and levies relating to import duty, customs, sales tax, special additional duty and octroi). At the time of delivery, the buyer has to pay these taxes and levies in addition to delivery order rate.
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Initial Margin
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5%
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Special Margin
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In case of additional volatility, a special margin of 2 % or such other percentage, as deemed fit, will be imposed immediately on both buy and sale side in respect of all outstanding position, which will remain in force for next 3 days, after which the special margin will be relaxed.
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Maximum Allowable Open Position
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For individual clients: 400 Tons
For a member collectively for all clients: Not more than 25 % of the market's open position in a contract at any point of time
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Delivery
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Delivery Unit
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5 MT with tolerance limit of + / - 1 %
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Delivery Center(s)
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Within 20 Kilometers outside Mumbai octroi limit.
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Quality Specifications
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LME approved Tin Ingot of 99.85 purity (minimum). Only Malaysian Esscoy brand and Indonesia Mentok brand are acceptable for delivery
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MCX
102 A, Landmark, Suren Road,
Chakala, Andheri (East),
Mumbai - 400 093
t: 022 56494000 / 26836016
f: 022 56494151
e: info@mcxindia.com
w: mcxindia.com
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