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Liquidity for warrants trades has been declining recently due to low stock levels in LME warehouses, while some locations were not regularly active.
The consultation period for this proposed amendment starts on Wednesday May 11 and will last for four weeks, to end on Wednesday June 8.
The amendment will then take place, subject to market feedback, with the next publication being on Wednesday June 22, and every two weeks following that.
LME warrants are bearer documents of title, of a specified brand, of a specified lot of metal in a specified location and warehouse registered with the LME. Fastmarkets assesses premiums for locations globally and for six base metals (copper, aluminium, nickel, zinc, lead and tin).
The premium assessments to be affected are: MB-AL-0333 Aluminium P1020A warrant premium, in-whs Southeast Asia, $ per tonne MB-AL-0334 Aluminium P1020A, warrant premium, in-whs East Asia, $ per tonne MB-AL-0338 Aluminium P1020A warrant premium, in-whs US, $ per tonne MB-CU-0377 Copper grade A cathode warrant premium, in-whs US, $ per tonne MB-CU-0397 Copper grade A cathode warrant premium, in-whs Southeast Asia, $ per tonne MB-CU-0398 Copper grade A cathode warrant premium, in-whs East Asia, $ per tonne MB-CU-0400 Copper grade A cathode warrant premium, in-whs North Europe, $ per tonne MB-CU-0401 Copper grade A cathode warrant premium, in-whs South Europe, $ per tonne MB-NI-0137 Nickel min 99.8% full plate warrant premium, in-whs Southeast Asia, $ per tonne MB-NI-0138 Nickel min 99.8% briquette warrant premium, in-whs Southeast Asia, $ per tonne MB-NI-0139 Nickel min 99.8% full plate warrant premium, in-whs East Asia, $ per tonne MB-NI-0140 Nickel min 99.8% briquette warrant premium, in-whs East Asia, $ per tonne MB-NI-0141 Nickel min 99.8% warrant premium, in-whs North Europe, $ per tonne MB-PB-0097 Lead 99.97% ingot warrant premium, in-whs US, $ per tonne MB-PB-0105 Lead min 99.97% ingot warrant premium, in-whs Southeast Asia, $ per tonne MB-PB-0106 Lead min 99.97% ingot warrant premium, in-whs East Asia, $ per tonne MB-PB-0109 Lead 99.97% ingot warrant premium, in-whs North Europe, $ per tonne MB-PB-0110 Lead 99.97% ingot warrant premium, in-whs South Europe, $ per tonne MB-SN-0042 Tin min 99.85% ingot warrant premium, in-whs South East Asia, $ per tonne MB-ZN-0104 Zinc SHG min 99.995% warrant premium, in-whs US, $ per per tonne MB-ZN-0117 Zinc SHG min 99.995% warrant premium, in-whs North Europe, $ per tonne MB-ZN-0123 Zinc SHG min 99.995% warrant premium, in-whs Southeast Asia, $ per tonne
To provide feedback on this consultation, or if you would like to provide price information by becoming a data submitter to warrants premiums, please contact Alice Mason by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Alice Mason/Callum Perry, re: LME warrants premiums.’
To see all Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/about-us/methodology.