Zinc markets
Market information

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.

Zinc Ring Trading Times
First Session
1st Ring
12:10 - 12:15
2nd Ring (Official)
12:50 - 12:55
Kerb Trading*
13:15 - 15:10
Second Session
1st Ring
15:25 - 15:30
2nd Ring (Offical)
16:05 - 16:10
Kerb Trading*
16:35 - 16:55
*Approximate start time for kerb following declaration of the official prices at the end of each metal's morning ring 2
LME Zinc Contract Specifications
LME Special High Grade Zinc Futures & Traded Options
Zinc is the fourth most widely used metal in the world. Its resistance to non-acidic atmospheric corrosion means that zinc is instrumental in prolonging the life of buildings, vehicles, ships and steel goods and structures of every kind. Accordingly, galvanising accounts for more than half of all present day applications of metal, and this figure is increasing.

Zinc was traded unofficially on the LME from the outset when the Exchange was established in 1877 and became an official contract in 1915. The LME is the only international exchange to trade zinc and by the 1980s the volume of contracts traded on the LME led the international zinc industry to recognise the Exchange as the reference point for pricing physical contracts. With this development the Exchange became an even more appropriate venue for metal price risk management, a fact clearly reflected by a major growth in turnover.

LME Zinc Futures Contract Specification
Contract
Zinc of 99.995% minimum purity.  Zinc placed on warrant on or after 1st Nov 2000 must conform with the 99.995% graded zinc chemical composition of the BS EN 1179:1996 Standard entitled "Zinc and Zinc Alloys - Primary Zinc".
Lot size
25 tonnes (with a tolerance of +/- 2%)
Form
1. Ingots (slabs and plates will be referred to as ingots)
Weight
Up to 55 kg each.  Each parcel placed on warrant shall be delivered in bundles not exceeding 1.5 tonnes. 
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
50 US cents per tonne
Clearable currencies
US dollar; Japanese yen; sterling; euro
LME Zinc 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

*Strike price gradations and tick size for premiums available in all clearable currencies.

LME Zinc Traded Average Price Options Contract 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.
Contact the LME
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