London Metal Exchange
The London Metal Exchange is the world centre for industrial metals trading. Most of the world’s non-ferrous metals business is conducted on our three trading venues: LMEselect (electronic), the Ring (open outcry) and the 24-hour telephone market.
The global metals community uses the LME to trade futures and options and hedge against adverse price movements – prices which are discovered on our markets and used as global references.
In 2025, 191 million lots were traded, equating to $21 trillion and 4 billion tonnes notional with a market open interest high of 2.1 million lots.
As of December 2025, 1,262,665 tonnes of material were held on LME warrant in 460 storage facilities in 16 regions across 33 global locations.
Participants can transfer or take on price risk against aluminium, copper, nickel, tin, zinc, lead, molybdenum, cobalt, lithium, steel scrap, rebar and hot-rolled coil as well as alumina, aluminium premiums and alloys.
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.
The LME is a member of HKEX Group.