Search the LME Home Trading Initiatives Implied pricing Initiatives Implied pricing QUICK ACCESS Market structure evolution Electric vehicle battery materials New trading platform As part of the LME Strategic Pathway, the London Metal Exchange (LME) has expanded implied pricing functionality on LMEselect to include: aluminium, copper, lead, nickel, tin and zinc. This functionality improves access to existing liquidity and tightens spreads for: all the 3rd Wednesday outright order books preceding the 3-month (3M) rolling prompt and the nearest 3rd Wednesday order book immediately following the 3M prompt the order books for cash contracts associated carry order books connecting the 3-month and nearby 3rd Wednesday contracts or the cash contract. As part of the temporary change to Ring trading, detailed in Notice 20/067 (PDF), cash contract Official valuations will be determined by electronic trading activity. To support liquidity in the cash contract order books on LMEselect, the implied route between the cash and 3m contracts, linked via the CASH-3M carry, has been enabled effective 20 March 2020 We have produced a Guide to Implied Pricing for Base Metals (PDF) which outlines in more detail what implied pricing is and how it works on our market. The LMEprecious products have utilised implied pricing for all prompt dates since their July 2017 launch, and the LME Steel Scrap and LME Steel Rebar contracts have had implied pricing functionality enabled since July 2019. In October 2019 the LME produced an Insight Piece which details the rationale behind implied markets and their growth story. Contact us For further information please email our Sales team. Contact us Resources A Guide to Implied Pricing for Base Metals Implied pricing Member Notice Implied pricing press release Which prices are implied? Which outright months are implied? STAY UP TO DATE Register with LME.com Receive full access to all our price data and gain access to our monthly LME newsletter, packed with market tips and insights from our on-staff specialists. Register now Metals Trading Clearing Market data Physical services About About the LME Committees Governance Corporate Business continuity FAQs Regulation LME Rulebook (Download) LME Clear Rulebook (Download) Guide to market structure (Download) Market regulation Benchmark regulation Pre-trade transparency Brexit Rules Arbitration Responsibility Responsible sourcing Sustainability Conduct Diversity and inclusion Charity Corporate disclosure CONTACT US London +44 (0)207113 8888 10 Finsbury Square London EC2A 1AJ Singapore +65 6535 5035 9 Battery Road #07-02 MYP Centre Raffles Place Singapore 049910 Register Log in Legal Privacy statement Cookie policy Modern slavery statement Website T&C's Email disclaimer Cyber security awareness © 2021 The London Metal Exchange - an HKEX Company. All rights reserved.