The London Metal Exchange is the world’s largest non-ferrous metal exchange. The price and inventory of the London Metal Exchange have an important influence on the production and sales of non-ferrous metals worldwide. In the mid-nineteenth century, Britain was the world’s largest producer of tin and copper. With the passage of time, industrial demand continued to grow, and Britain urgently needed to import large amounts of industrial raw materials from foreign mines. Under the conditions at the time, due to the irregular arrival time of the freighters transporting ore across the ocean, the price of metals fluctuates greatly. Metal merchants and consumers have to face huge risks. In 1877, some metal trading merchants established London Metal The exchange has also established a standardized trading method. Since the beginning of this century, the London Metal Exchange has begun to publicly publish its transaction price and it has been widely used as a quasi-price in the world’s metal trade. 70% of all copper production in the world is traded on the basis of the official price announced by the London Metal Exchange. During the working day of each week, the trading time of all ferrous metals in the London Metal Exchange is as follows: 11:40 GMT, starting the morning on-site trading; each trading product rotates for 5 minutes each. At 12:20, after all 8 kinds of metals are traded in sequence, there will be a 10-minute break; at 12:30, the second trading in the morning will start, and each type will still be traded in sequence for 5 minutes. Because the second floor trade in the morning determines the official settlement price of the day, it is of special significance. After the official settlement price is reported, that is, around 13:15 in the afternoon, the over-the-counter price starts trading and continues until 13:30. During this period, 8 metal varieties were traded at the same time. In the morning, the on-exchange trading ends after the over-the-counter price closes, and the trading is transferred indoors. The second session of the day on the London Metal Exchange began at 15:10 in the afternoon. The trading in the afternoon is similar to the trading in the morning. After the end of 16:35, the over-the-counter trading will be carried out immediately until 17:00, which lasts for a total of 25 minutes. The difference between the morning and afternoon on-site trading is that there is no important procedure for the official settlement of the settlement price in the afternoon on-site trading. The London Metal Exchange Trading Procedures Timetable for the first session in the morning, the second session in the afternoon, the first session (Greenwich), the third session (Greenwich) Silver 11.40 Aluminum alloy 15.10 Aluminum alloy 11.45 Silver 15.15 Tin 11.50 Lead 15.20 Aluminum 11.55 Zinc 15. 25 Copper 12.00 Copper 15.30 Lead 12.05 Aluminum 15.35 Zinc 12.10 Tin 15.40 Nickel 12.15 Nickel 15.45 Rest Rest Section 4 Copper 12.30 Silver 15.55 Aluminum Alloy 12.35 Lead 16.00 Tin 12.40 Zinc 16.05 Lead 12.45 Copper 16.10 Zinc 12.50 Aluminum 12.55 Aluminium 16.15 Tin Nickel 13.00 Nickel 16.25 Silver 13.05 Aluminum Alloy 16.30 (1*) (2*) Note: (1*): OTC trading continues until 13.30. (2*): OTC trading continued from 16.35 to 17.00. Among them, aluminum alloy and silver end at 16.45, tin end at 16.50, zinc and nickel end at 16.55, and copper and aluminum end at 17.00. The London Copper LME is the world’s largest copper futures trading market. It was established in 1876 and trades copper, aluminum, lead, zinc, nickel and aluminum alloys. Copper futures trading began in 1877. There are two types of copper for trading: Cathodic copper: Grade A copper copper rod: The specification standard is Grade A copper weighing 110-125 kg. Among them, the trading of cathode copper is the most active. All copper delivered must have a grade A copper grade approved by the London Stock Exchange and comply with the British BS6017-1981 standard classification specifications. The contract rules for Grade A electrolytic copper are: Contract quantity unit 25 tons Price USD/ton The lowest price fluctuation range is 0. USD 5/ton Delivery date Any trading day within three months. More than three months to fifteen months is the third Wednesday of each month. Trading time 2:00-12:05 12:30-12:35 (official price) 15:30-15:35 16:15-16: 20 LME currently has 14 member companies. Member brokerage companies can do self-employment and also act as agents for clients. Different from other exchanges, the LME three-month futures contract is a continuous contract, so it is delivered every day. The LME sets a bottom limit for the discount of spot copper, which is spot (CASH) copper, and the spot discount must not be low. In March, copper was US$30. On the contrary, the spot premium can be infinite. In addition, the LME has no price limit. London Aluminum Aluminum is the second largest metal after steel. Aluminum is widely used in construction, packaging, electronics and other industries due to its light weight, good extensibility, and strong corrosion resistance. In 2000, global aluminum production reached 21,191,000 tons, and the trading volume of aluminum futures and options on the London Metal Exchange (LME) reached 25 million lots (approximately 600 million tons); from January to July 2001, the London Metal Exchange The trading volume of aluminum futures options reached 15,170,158 lots (about 370 million tons). The London Metal Exchange aluminum contract is 99.7% pure aluminum, 25 tons (+/-2%) per lot, and the minimum fluctuation price of the aluminum contract is 50 cents/ton. ; There are three types of ingots: 1. Aluminum ingots (12-26 kg). 2. T-shaped ingot (750 kg). 3. Daban ingot (750 kg). Standard delivery Physical delivery The most recent month of the transaction plus two consecutive months, and the next 12 months. Trading hours 11:55-12:00, 12:50-12:55, 15:35-15:40, 16:15-16:20 The price is quoted in USD/metric ton, and the minimum price jump is 0.5 USD/metric ton (12.