What does London Metal Exchange LME mean?
Established in 1877, the London Metal Exchange is the international center for trading industrial metals. More than 80% of all non-ferrous metal futures business globally is transacted here. The prices discovered on LME are used as the global reference price.
Futures Knowledge Explains London Metal Exchange LME
Contracts for Aluminum, copper, and zinc are traded on LME. But Iron and steel are not traded here. Trading on LME can be done through open outcry or electronic trading platform or an inter-telephone system between member companies. LME is a member of HKEx Group and has the facilities of physical delivery through warehouses across the world. So the metal producers and consumers besides hedge managers and investors find convenient to trade on LME.