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For the majority of LME contracts the official settlement price is established basis ‘open-outcry’ trading at the end of the first ring trading session of each business day. The official settlement price is the last cash seller’s price (offer) established at the end of the first ring trading session - Learn more about the price discovery process for LME non-ferrous metals, minor metals and steel.
All prices are quoted in US Dollars.
In the case of the LME's plastics contracts the official settlement price is discovered on the LME's electronic trading platform, LMEselect, between 12.20 and 12.25 each day.
The plastics price discovery process is based on the trade-weighted average method. This means that instead of a bid and offer price there is only a single price published and this is the settlement price. Learn more about the price discovery process for LME plastics.
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