LME Cobalt Physical Specification (CO)

• Lot size: 1 tonne of minimum 99.3% cobalt
• Deliverable in 100kg - 500kg drums of uniform size and weight
• Delivery by brand
• Impurities set according to standard producer specification

Cobalt and Molybdenum Futures Trading Features

• Commenced trading on 22 February 2010
• Traded in $US per tonne (Molybdenum: $US per tonne of molybdenum contained)
• Daily prompts to 3 months, weekly to 6 months, monthly to 15 months 
• Trading via Ring, LMEselect and Telephone
• 1 Ring per day shared between cobalt and molybdenum at 12:20
• Kerb trading daily
• Physically settled
• Delivery points in Rotterdam, Baltimore, Singapore (Antwerp from 22 October for Cobalt)
• Tick size:
  • Carries: $0.01 in LMEselect, Ring, and Telephone
  • 3 months: $0.25 - LMEselect; $0.50 - Ring; $0.01 - Telephone
• Options, TAPOS, LMEmini or SWAPS contracts will not be extended to molybdenum and cobalt at the launch

Margin Information

Margin rates are set by LCH.Clearnet who clear all contracts traded on the Exchange.

• Scanning Range (per tonne):
  • Cobalt - $5400
  • Molybdenum - $6600
• Intermonth Spreads:
  • Cobalt - $10,800
  • Molybdenum - $13,200
• Intercommodity Credits:
  • Cobalt to Nickel – 25%, Ratio 6:1
  • Molybdenum to Copper – 25%, Ratio 25:6