LME Monthly Trading

May-23

Prices - May-23
Official Cash Settlement Price Official 3 Month Price
*M/M
Contract *M/M
Average Low High Average Low High Change
Change %
%
AH LME Aluminium
Aluminium $2,267.60 $2,202.00 $2,353.00 -3.1% $2,269.68 $2,221.50 $2,355.00 -4.2%
AA LME Aluminium
Aluminium Alloy Alloy $1,949.65 $1,947.00 $1,952.00 0.1% $2,007.00 $2,007.00 $2,007.00 0.0%
NA LME NASAAC
NASAAC $2,528.25 $2,500.00 $2,549.00 3.4% $2,597.50 $2,550.00 $2,600.00 1.8%
CA LME Copper
Copper $8,234.28 $7,910.00 $8,583.00 -6.6% $8,271.43 $7,960.00 $8,607.00 -6.2%
PB LME Lead
Lead $2,087.50 $2,032.50 $2,171.00 -2.9% $2,089.93 $2,031.50 $2,158.00 -1.8%
NINickel
LME Nickel $22,229.50 $20,450.00 $25,100.00 -6.4% $22,342.25 $20,540.00 $25,150.00 -6.8%
SN LME Tin
Tin $25,609.75 $24,300.00 $27,125.00 -1.1% $25,344.75 $24,125.00 $26,875.00 -1.6%
ZS LME Zinc
Zinc $2,477.70 $2,224.00 $2,658.00 -10.6% $2,490.23 $2,236.50 $2,675.00 -10.0%
CO LME Cobalt
Cobalt $33,476.25 $29,085.00 $34,505.00 -3.0% $33,915.25 $29,525.00 $34,930.00 -2.9%
* Percentage change in average price from previous month

Warehouse stock movements (tonnes) - May-23

Delivered
Contract Delivered In Net Closing
Out
AHLME Aluminium 41,800 - 45,300 - 3,500 578,825
AALME Aluminium Alloy - - - 1,920
NALME NASAAC - - 20 - 20 720
CALME Copper 36,200 - 3,025 33,175 99,525
PBLME Lead 4,200 - 50 4,150 36,450
NI LME Nickel 930 - 3,258 - 2,328 37,686
SNLME Tin 735 - 310 425 1,970
ZSLME Zinc 43,850 - 9,325 34,525 87,450
COLME Cobalt - - 13 - 13 96
Total 127,715 - 61,301 66,414 844,642

Monthly Warehouse Stock Movements

400,000

300,000

200,000

100,000
Tonnes

-100,000

-200,000

-300,000

-400,000
May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23
Delivered Out Delivered In Net

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its futureperformance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that mayresult from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Monthly Trading
May-23

Volumes - May-23
Tonnes Year to date Futures Market
Contract ADV (lots) ADV Y/Y change % * Volume Year to date (lots)
(millions) Open Interest **
Non-ferrous metals (futures, traded options and TAPOs)
AHLME Aluminium 272,641 26.0% 23,879,167 597 736,190
AALME Aluminium Alloy - -100.0% 14 0 -
NALME NASAAC - -100.0% 25 0 8
CALME Copper 147,062 29.2% 14,225,264 356 317,543
PBLME Lead 57,523 35.3% 5,550,537 139 131,151
NI LME Nickel 38,875 -7.7% 3,791,951 23 156,576
SNLME Tin 5,047 36.1% 484,186 2 16,382
ZSLME Zinc 97,584 13.1% 8,740,876 219 237,513
MAFLME M A Futures*** 768 264.6% 37,804 1 10,697
LMEminis - - - - -
LME Premiums
LME Aluminium Premium Duty paid US
UP - -100.0% 457 0 339
Midwest (Platts)
LME Aluminium Premium Duty Paid
ED
Aluminium Premium Duty Paid European (Fastmarkets MB) 22 -69.6% 2,954 0 778
European (Fastmarkets MB)
Minor Metals (futures)
CO LME Cobalt
Cobalt - -100.0% 99 0 -
Ferrous (futures)
HC LME
Steel Steel
HRC HRC FOB
N. America China (Argus)
(Platts) 393 142.3% 22,976 0 1,971
HU LME
Steel Steel
Scrap CFRHRC N. (Platts)
Turkey America (Platts) - -100.0% - - -
SC LME
Steel Steel
Scrap CFRScrap CFR Turkey (Platts)
India (Platts) 3,189 88.0% 343,141 3 15,970
SISteel
LME Steel
Rebar FOBScrap
TurkeyCFR India (Platts)
(Platts) 11 283.3% 570 0 26
SR LME
Steel Steel
Scrap CFRRebar
Taiwan FOB Turkey (Platts)
(Argus) 421 2.3% 35,994 0 1,661
ST LME
HRC NWSteel Scrap
Europe CFR Taiwan (Argus)
(Argus) 12 263.1% 1,211 0 67
HNLME HRC NW Europe (Argus) - -100.0% - - -
Precious (futures)
AULME Gold - -100.0% - - -

Grand
Totaltotal 623,548 22.9% 57,117,226 1,340 1,626,872
Ex_UNA
Total (excl. UNA) 590,056
*Percentage year-on-year change between current month and corresponding month in the previous year.
**Last trading day of month
***LME Monthly Average Futures include contracts for aluminium, aluminium alloy, NASAAC, copper, nickel, lead, tin and zinc

Monthly Volumes & Futures Market Open Interest (MOI)

14,000,000 1,650,000

12,000,000 1,600,000

1,550,000
10,000,000
1,500,000
Volume (lots)

MOI (lots)
8,000,000
1,450,000
6,000,000
1,400,000
4,000,000
1,350,000

2,000,000 1,300,000

0 1,250,000
May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23
Ex_UNA UNA MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Alumina (Platts)

Monthly Overview - May-23

3rd Month Forward Curve

400
(Last Business Day)
343
350
342
Front Month
300
342 Average $343.72
250 341 Minimum $342.09
$ per tonne

Maximum $348.00

$ per tonne
200 341

340
150

340
100
339
50
339
0 Volume (ex UNA) May-2023
338 Lots -

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots -
Tonnes -

Volume and Futures Market Open Interest (MOI) Volume Year To Date
1 1
Lots -
Tonnes -
1 0.9

1 0.8

1 0.7
Volume (lots)

1 0.6

1 0.5 MOI (lots)

0 0.4

0 0.3

0 0.2

0 0.1

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 0 0 1 1 1
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 342.09 - - Jun-23 -
Jun-23 $ 339.40 - - Jul-23 -
Jul-23 $ 339.40 - - Aug-23 -
Aug-23 $ 339.40 - - Sep-23 -
Sep-23 $ 339.40 - - Oct-23 -
Oct-23 $ 339.40 - - Nov-23 -
Nov-23 $ 339.40 - - Dec-23 -
Dec-23 $ 339.40 - - Jan-24 -
Jan-24 $ 339.40 - - Feb-24 -
Feb-24 $ 339.40 - - Mar-24 -
Mar-24 $ 339.40 - - Apr-24 -
Apr-24 $ 339.40 - - May-24 -
May-24 $ 339.40 - - Jun-24 -
Jun-24 $ 339.40 - - Jul-24 -
Jul-24 $ 339.40 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Aluminium Alloy

Monthly Overview - May-23

Official Price by prompt date

2,500

2,000
Cash
Average $1,949.65
$ per tonne

1,500 Minimum $1,947.00

Maximum $1,952.00
1,000

3M
500
Average $2,007.00
0 Minimum $2,007.00
Maximum $2,007.00

Trade Date

3M Cash

Volume and Futures Market Open Interest (MOI) Volume (ex UNA) May-2023
800 40 Lots -

700 35
Volume (inc UNA) May-2023
600 30
Lots -
Tonnes -
500 25
Volume (lots)

MOI (lots)
400 20 Volume Year To Date
300 15 Lots 14
Tonnes 280
200 10

100 5

0 0

Ex_UNA UNA MOI

LME Warehouse Stocks Warehouse Stock - May-23

2200
Delivered In -
2150
2100 Delivered Out -
2050 Net -
Tonnes

2000
1950
1900
1850
1800

Warehouse Stock - Year to Date

Sum of Open Tonnage Sum of Cancelled Tonnage
Delivered In -
100 Delivered Out -
50
Net -

0
Tonnes

-50

-100

-150

-200

Sum of Delivered_In Sum of Delivered_OUT Sum of Net

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Aluminium

Monthly Overview - May-23

Official Price by prompt date

3500

3000

Cash
2500
Average $2,267.60
$ per tonne

2000 Minimum $2,202.00

Maximum $2,353.00
1500

1000
3M
500
Average $2,269.68
0 Minimum $2,221.50
Maximum $2,355.00

Trade Date

3M Cash

Volume and Futures Market Open Interest (MOI) Volume (ex UNA) May-2023
6,000,000 1000000 Lots 5,136,759

5,000,000 Volume (inc UNA) May-2023

950000
Lots 5,452,823
4,000,000
Tonnes 136,320,575
Volume (lots)

900000

MOI (lots)
3,000,000 Volume Year To Date
850000 Lots 23,879,167
2,000,000
Tonnes 596,979,175
800000
1,000,000

0 750000

Ex_UNA UNA MOI

LME Warehouse Stocks Warehouse Stock - May-23

700000
Delivered In 41,800
600000
500000
Delivered Out - 45,300
Net - 3,500
Tonnes

400000
300000
200000
100000
0

Warehouse Stock - Year to Date

Sum of Open Tonnage Sum of Cancelled Tonnage
Delivered In 488,625
350000 Delivered Out - 373,175
300000 Net 115,450
250000
200000
150000
Tonnes

100000
50000
0
-50000
-100000
-150000

Sum of Delivered_In Sum of Delivered_OUT Sum of Net

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Aluminium Premium Duty Paid European (Fastmarkets MB)

Monthly Overview - May-23

3rd Month Forward Curve

600
(Last Business Day)
340

500 330
Front Month
320 Average $329.11
400
310 Minimum $327.78
$ per tonne

Maximum $330.00

$ per tonne
300 300

290
200
280

100 270

260
0 Volume (ex UNA) May-2023
250 Lots 440

Volume (inc UNA) May-2023

Title Prompt Month
Lots 440
Tonnes 11,000

Volume and Futures Market Open Interest (MOI) Volume Year To Date
1,200 1400
Lots 2,954
Tonnes 73,850

1200
1,000

1000
800
Volume (lots)

800

600 MOI (lots)

600

400
400

200
200

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 50 100 150 200 250 300
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 327.78 - - Jun-23 244
Jun-23 $ 310.50 360 244 Jul-23 150
Jul-23 $ 310.00 - 150 Aug-23 84
Aug-23 $ 287.00 30 84 Sep-23 70
Sep-23 $ 287.00 10 70 Oct-23 70
Oct-23 $ 287.00 - 70 Nov-23 70
Nov-23 $ 287.00 - 70 Dec-23 70
Dec-23 $ 287.00 20 70 Jan-24 10
Jan-24 $ 287.00 10 10 Feb-24 10
Feb-24 $ 287.00 10 10 Mar-24 -
Mar-24 $ 280.00 - - Apr-24 -
Apr-24 $ 280.00 - - May-24 -
May-24 $ 280.00 - - Jun-24 -
Jun-24 $ 280.00 - - Jul-24 -
Jul-24 $ 280.00 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Aluminium Premium Duty paid US Midwest (Platts)

Monthly Overview - May-23

3rd Month Forward Curve

900
(Last Business Day)
555
800

700 Front Month

550
Average $551.26
600
Minimum $545.64
$ per tonne

500 545 Maximum $554.46

$ per tonne
400

300 540

200
535
100

0 Volume (ex UNA) May-2023

530 Lots -

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots -
Tonnes -

Volume and Futures Market Open Interest (MOI) Volume Year To Date
400 700
Lots 457
Tonnes 11,425
350
600

300
500
Volume (lots)

250
400

200 MOI (lots)

300
150

200
100

100
50

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 50 100 150
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 549.61 - - Jun-23 60
Jun-23 $ 545.64 - 60 Jul-23 77
Jul-23 $ 545.64 - 77 Aug-23 69
Aug-23 $ 545.64 - 69 Sep-23 6
Sep-23 $ 543.44 - 6 Oct-23 53
Oct-23 $ 536.82 - 53 Nov-23 36
Nov-23 $ 536.82 - 36 Dec-23 14
Dec-23 $ 536.82 - 14 Jan-24 8
Jan-24 $ 546.74 - 8 Feb-24 8
Feb-24 $ 546.74 - 8 Mar-24 8
Mar-24 $ 546.74 - 8 Apr-24 -
Apr-24 $ 546.74 - - May-24 -
May-24 $ 546.74 - - Jun-24 -
Jun-24 $ 546.74 - - Jul-24 -
Jul-24 $ 546.74 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Aluminium Premium Duty Unpaid European (Fastmarkets MB)

Monthly Overview - May-23

3rd Month Forward Curve

600
(Last Business Day)
300

500
250 Front Month
Average $245.00
400
200 Minimum $245.00
$ per tonne

Maximum $245.00

$ per tonne
300
150

200
100

100
50

0 Volume (ex UNA) May-2023

0 Lots -

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots -
Tonnes -

Volume and Futures Market Open Interest (MOI) Volume Year To Date
1 1
Lots -
Tonnes -
1 0.9

1 0.8

1 0.7
Volume (lots)

1 0.6

1 0.5 MOI (lots)

0 0.4

0 0.3

0 0.2

0 0.1

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 0 0 1 1 1
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 245.00 - - Jun-23 -
Jun-23 $ 245.00 - - Jul-23 -
Jul-23 $ 245.00 - - Aug-23 -
Aug-23 $ 245.00 - - Sep-23 -
Sep-23 $ 245.00 - - Oct-23 -
Oct-23 $ 245.00 - - Nov-23 -
Nov-23 $ 245.00 - - Dec-23 -
Dec-23 $ 245.00 - - Jan-24 -
Jan-24 $ 245.00 - - Feb-24 -
Feb-24 $ 245.00 - - Mar-24 -
Mar-24 $ 245.00 - - Apr-24 -
Apr-24 $ 245.00 - - May-24 -
May-24 $ 245.00 - - Jun-24 -
Jun-24 $ 245.00 - - Jul-24 -
Jul-24 $ 245.00 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Aluminium UBC Scrap US (Argus)

Monthly Overview - May-23

3rd Month Forward Curve

3,000
(Last Business Day)
1,700.00

2,500 1,690.00
Front Month
1,680.00 Average $1,704.46
2,000
Minimum $1,669.52
$ per tonne

1,670.00
Maximum $1,764.80

$ per tonne
1,500
1,660.00

1,000 1,650.00

1,640.00
500

1,630.00

0 Volume (ex UNA) May-2023

1,620.00 Lots -

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots -
Tonnes -

Volume and Futures Market Open Interest (MOI) Volume Year To Date
1 1
Lots -
Tonnes -
1 0.9

1 0.8

1 0.7
Volume (lots)

1 0.6

1 0.5 MOI (lots)

0 0.4

0 0.3

0 0.2

0 0.1

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 0 0 1 1 1
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 1,687.29 - - Jun-23 -
Jun-23 $ 1,647.96 - - Jul-23 -
Jul-23 $ 1,647.96 - - Aug-23 -
Aug-23 $ 1,647.96 - - Sep-23 -
Sep-23 $ 1,647.96 - - Oct-23 -
Oct-23 $ 1,647.96 - - Nov-23 -
Nov-23 $ 1,647.96 - - Dec-23 -
Dec-23 $ 1,647.96 - - Jan-24 -
Jan-24 $ 1,647.96 - - Feb-24 -
Feb-24 $ 1,647.96 - - Mar-24 -
Mar-24 $ 1,647.96 - - Apr-24 -
Apr-24 $ 1,647.96 - - May-24 -
May-24 $ 1,647.96 - - Jun-24 -
Jun-24 $ 1,647.96 - - Jul-24 -
Jul-24 $ 1,647.96 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Cobalt (Fastmarkets MB)

Monthly Overview - May-23

3rd Month Forward Curve

100,000
(Last Business Day)
31,500
90,000

80,000 31,000 Front Month

70,000 Average $31,093.04
30,500
60,000
Minimum $30,376.55
$ per tonne

Maximum $32,848.88

$ per tonne
30,000
50,000

40,000 29,500
30,000
29,000
20,000

10,000 28,500

0 Volume (ex UNA) May-2023

28,000 Lots -

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots -
Tonnes -

Volume and Futures Market Open Interest (MOI) Volume Year To Date
1 1
Lots -
Tonnes -
1 0.9

1 0.8

1 0.7
Volume (lots)

1 0.6

1 0.5 MOI (lots)

0 0.4

0 0.3

0 0.2

0 0.1

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 0 0 1 1 1
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 30,445.84 - - Jun-23 -
Jun-23 $ 29,034.88 - - Jul-23 -
Jul-23 $ 29,179.88 - - Aug-23 -
Aug-23 $ 29,324.88 - - Sep-23 -
Sep-23 $ 29,469.88 - - Oct-23 -
Oct-23 $ 29,614.88 - - Nov-23 -
Nov-23 $ 29,759.88 - - Dec-23 -
Dec-23 $ 29,904.88 - - Jan-24 -
Jan-24 $ 30,049.88 - - Feb-24 -
Feb-24 $ 30,194.88 - - Mar-24 -
Mar-24 $ 30,339.88 - - Apr-24 -
Apr-24 $ 30,484.88 - - May-24 -
May-24 $ 30,629.88 - - Jun-24 -
Jun-24 $ 30,774.88 - - Jul-24 -
Jul-24 $ 30,919.88 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Cobalt

Monthly Overview - May-23

Official Price by prompt date

90000

80000

70000 Cash
60000 Average $33,476.25
$ per tonne

50000
Minimum $29,085.00
Maximum $34,505.00
40000

30000

20000 3M
10000 Average $33,915.25
0 Minimum $29,525.00
Maximum $34,930.00

Trade Date

3M Cash

Volume and Futures Market Open Interest (MOI) Volume (ex UNA) May-2023
60 40 Lots -

35
50 Volume (inc UNA) May-2023
30
Lots -
40
Tonnes -
25
Volume (lots)

MOI (lots)
30 20 Volume Year To Date
15 Lots 99
20
Tonnes 99
10

10
5

0 0

Ex_UNA UNA MOI

LME Warehouse Stocks Warehouse Stock - May-23

250
Delivered In 0
200 Delivered Out -13
150 Net -13
Tonnes

100

50

Warehouse Stock - Year to Date

Sum of Open Tonnage Sum of Cancelled Tonnage
Delivered In 0
0 Delivered Out -69
-5
Net -69

-10
Tonnes

-15

-20

-25

-30

Sum of Delivered_In Sum of Delivered_OUT Sum of Net

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Copper

Monthly Overview - May-23

Official Price by prompt date

12000

10000
Cash
8000 Average $8,234.28
$ per tonne

Minimum $7,910.00
6000 Maximum $8,583.00

4000

3M
2000
Average $8,271.43
0 Minimum $7,960.00
Maximum $8,607.00

Trade Date

3M Cash

Volume and Futures Market Open Interest (MOI) Volume (ex UNA) May-2023
3,500,000 500000 Lots 2,839,792
450000
3,000,000 Volume (inc UNA) May-2023
400000
Lots 2,941,243
2,500,000 350000 Tonnes 73,531,075
Volume (lots)

300000

MOI (lots)
2,000,000
250000 Volume Year To Date
1,500,000
200000 Lots 14,225,264
1,000,000 150000 Tonnes 355,631,600
100000
500,000
50000

0 0

Ex_UNA UNA MOI

LME Warehouse Stocks Warehouse Stock - May-23

200000
180000
Delivered In 36,200
160000 Delivered Out -3,025
140000
120000 Net 33,175
Tonnes

100000
80000
60000
40000
20000
0

Warehouse Stock - Year to Date

Sum of Open Tonnage Sum of Cancelled Tonnage
Delivered In 144,600
80000 Delivered Out -133,625
60000 Net 10,975
40000
20000
Tonnes

0
-20000
-40000
-60000
-80000

Sum of Delivered_In Sum of Delivered_OUT Sum of Net

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Lead

Monthly Overview - May-23

Official Price by prompt date

2500

2000
Cash
Average $2,087.50
$ per tonne

1500 Minimum $2,032.50

Maximum $2,171.00
1000

3M
500
Average $2,089.93
0 Minimum $2,031.50
Maximum $2,158.00

Trade Date

3M Cash

Volume and Futures Market Open Interest (MOI) Volume (ex UNA) May-2023
1,400,000 180000 Lots 1,074,637
160000
1,200,000 Volume (inc UNA) May-2023
140000 Lots 1,150,453
1,000,000
120000
Tonnes 28,761,325
Volume (lots)

MOI (lots)
800,000 100000
Volume Year To Date
600,000 80000
Lots 5,550,537
60000
400,000 Tonnes 138,763,425
40000
200,000
20000

0 0

Ex_UNA UNA MOI

LME Warehouse Stocks Warehouse Stock - May-23

45000
40000
Delivered In 4,200
35000 Delivered Out -50
30000
Net 4,150
Tonnes

25000
20000
15000
10000
5000
0

Warehouse Stock - Year to Date

Sum of Open Tonnage Sum of Cancelled Tonnage
Delivered In 19,825
8000 Delivered Out -8,525
6000 Net 11,300
4000
2000
Tonnes

0
-2000
-4000
-6000
-8000

Sum of Delivered_In Sum of Delivered_OUT Sum of Net

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Lithium Hydroxide CIF (Fastmarkets MB)

Monthly Overview - May-23

3rd Month Forward Curve

90,000
(Last Business Day)
45,500
80,000

70,000
45,000 Front Month
Average $42,222.66
60,000 44,500
Minimum $40,750.00
$ per tonne

50,000 Maximum $43,614.29

$ per tonne
44,000
40,000
43,500
30,000

20,000 43,000

10,000 42,500

0 Volume (ex UNA) May-2023

42,000 Lots -

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots -
Tonnes -

Volume and Futures Market Open Interest (MOI) Volume Year To Date
1 1
Lots -
Tonnes -
1 0.9

1 0.8

1 0.7
Volume (lots)

1 0.6

1 0.5 MOI (lots)

0 0.4

0 0.3

0 0.2

0 0.1

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 0 0 1 1 1
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 43,210.00 - - Jun-23 -
Jun-23 $ 45,026.00 - - Jul-23 -
Jul-23 $ 45,026.00 - - Aug-23 -
Aug-23 $ 45,026.00 - - Sep-23 -
Sep-23 $ 45,026.00 - - Oct-23 -
Oct-23 $ 45,026.00 - - Nov-23 -
Nov-23 $ 45,026.00 - - Dec-23 -
Dec-23 $ 45,026.00 - - Jan-24 -
Jan-24 $ 45,026.00 - - Feb-24 -
Feb-24 $ 45,026.00 - - Mar-24 -
Mar-24 $ 45,026.00 - - Apr-24 -
Apr-24 $ 45,026.00 - - May-24 -
May-24 $ 45,026.00 - - Jun-24 -
Jun-24 $ 45,026.00 - - Jul-24 -
Jul-24 $ 45,026.00 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Molybdenum (Platts)

Monthly Overview - May-23

3rd Month Forward Curve

40
(Last Business Day)
21.90
35
21.80
Front Month
30 21.70
Average $21.08
21.60 Minimum $20.53
25
$ per tonne

21.50 Maximum $21.66

$ per tonne
20
21.40
15
21.30

10 21.20

21.10
5
21.00
0 Volume (ex UNA) May-2023
20.90 Lots -

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots -
Tonnes -

Volume and Futures Market Open Interest (MOI) Volume Year To Date
1 1
Lots -
Tonnes -
1 0.9

1 0.8

1 0.7
Volume (lots)

1 0.6

1 0.5 MOI (lots)

0 0.4

0 0.3

0 0.2

0 0.1

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 0 0 1 1 1
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 21.26 - - Jun-23 -
Jun-23 $ 21.84 - - Jul-23 -
Jul-23 $ 21.84 - - Aug-23 -
Aug-23 $ 21.84 - - Sep-23 -
Sep-23 $ 21.84 - - Oct-23 -
Oct-23 $ 21.84 - - Nov-23 -
Nov-23 $ 21.84 - - Dec-23 -
Dec-23 $ 21.84 - - Jan-24 -
Jan-24 $ 21.84 - - Feb-24 -
Feb-24 $ 21.84 - - Mar-24 -
Mar-24 $ 21.84 - - Apr-24 -
Apr-24 $ 21.84 - - May-24 -
May-24 $ 21.84 - - Jun-24 -
Jun-24 $ 21.84 - - Jul-24 -
Jul-24 $ 21.84 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME NASAAC

Monthly Overview - May-23

Official Price by prompt date

3500

3000

Cash
2500
Average $2,528.25
$ per tonne

2000 Minimum $2,500.00

Maximum $2,549.00
1500

1000
3M
500
Average $2,597.50
0 Minimum $2,550.00
Maximum $2,600.00

Trade Date

3M Cash

Volume and Futures Market Open Interest (MOI) Volume (ex UNA) May-2023
900 200 Lots -
800 180
Volume (inc UNA) May-2023
160
700 Lots -
600
140 Tonnes -
Volume (lots)

120

MOI (lots)
500
100 Volume Year To Date
400
80 Lots 25
300
60 Tonnes 500
200
40

100 20

0 0

Ex_UNA UNA MOI

LME Warehouse Stocks Warehouse Stock - May-23

7000
Delivered In 0
6000
5000
Delivered Out -20
Net -20
Tonnes

4000
3000
2000
1000
0

Warehouse Stock - Year to Date

Sum of Open Tonnage Sum of Cancelled Tonnage
Delivered In 0
2000 Delivered Out -1,740
1500 Net -1,740
1000
Tonnes

500

-500

-1000

-1500

Sum of Delivered_In Sum of Delivered_OUT Sum of Net

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Nickel

Monthly Overview - May-23

Official Price by prompt date

35000

30000

Cash
25000
Average $22,229.50
$ per tonne

20000 Minimum $20,450.00

Maximum $25,100.00
15000

10000
3M
5000
Average $22,342.25
0 Minimum $20,540.00
Maximum $25,150.00

Trade Date

3M Cash

Volume and Futures Market Open Interest (MOI) Volume (ex UNA) May-2023
1,200,000 250000 Lots 726,393

1,000,000 Volume (inc UNA) May-2023

200000
Lots 777,509
800,000
Tonnes 4,665,054
Volume (lots)

150000

MOI (lots)
600,000 Volume Year To Date
100000 Lots 3,791,951
400,000
Tonnes 22,751,706
50000
200,000

0 0

Ex_UNA UNA MOI

LME Warehouse Stocks Warehouse Stock - May-23

80000
Delivered In 930
70000
60000 Delivered Out -3,258
50000 Net -2,328
Tonnes

40000
30000
20000
10000
0

Warehouse Stock - Year to Date

Sum of Open Tonnage Sum of Cancelled Tonnage
Delivered In 9,786
8000 Delivered Out -27,480
6000 Net -17,694
4000
2000
0
Tonnes

-2000
-4000
-6000
-8000
-10000
-12000

Sum of Delivered_In Sum of Delivered_OUT Sum of Net

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Steel Rebar FOB Turkey (Platts)

Monthly Overview - May-23

3rd Month Forward Curve

900
(Last Business Day)
630
800
625
700 620
Front Month
Average $619.73
600 615
Minimum $610.00
$ per tonne

610
500 Maximum $632.50

$ per tonne
605
400
600
300 595

200 590

585
100
580
0 Volume (ex UNA) May-2023
575 Lots 8,421

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots 8,421
Tonnes 84,210

Volume and Futures Market Open Interest (MOI) Volume Year To Date
14,000 3000
Lots 35,994
Tonnes 359,940

12,000
2500

10,000
2000
Volume (lots)

8,000

1500 MOI (lots)

6,000

1000
4,000

500
2,000

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 200 400 600 800
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 623.18 940 - Jun-23 613
Jun-23 $ 607.50 4,072 613 Jul-23 286
Jul-23 $ 600.00 1,724 286 Aug-23 90
Aug-23 $ 599.00 484 90 Sep-23 33
Sep-23 $ 592.50 331 33 Oct-23 113
Oct-23 $ 603.00 257 113 Nov-23 106
Nov-23 $ 602.00 70 106 Dec-23 113
Dec-23 $ 601.50 65 113 Jan-24 17
Jan-24 $ 599.00 152 17 Feb-24 3
Feb-24 $ 598.50 42 3 Mar-24 13
Mar-24 $ 597.00 48 13 Apr-24 266
Apr-24 $ 597.00 179 266 May-24 3
May-24 $ 596.50 33 3 Jun-24 5
Jun-24 $ 596.50 24 5 Jul-24 -
Jul-24 $ 596.50 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Steel Scrap CFR India (Platts)

Monthly Overview - May-23

3rd Month Forward Curve

600
(Last Business Day)
434

500
432 Front Month
Average $427.95
400
430 Minimum $424.00
$ per tonne

Maximum $438.00

$ per tonne
300
428

200
426

100
424

0 Volume (ex UNA) May-2023

422 Lots 219

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots 219
Tonnes 2,190

Volume and Futures Market Open Interest (MOI) Volume Year To Date
250 30
Lots 570
Tonnes 5,700

25
200

20
Volume (lots)

150

15 MOI (lots)

100

10

50
5

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 2 4 6 8 10 12
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 431.25 - - Jun-23 10
Jun-23 $ 433.00 87 10 Jul-23 8
Jul-23 $ 426.50 45 8 Aug-23 4
Aug-23 $ 426.00 12 4 Sep-23 4
Sep-23 $ 426.00 75 4 Oct-23 -
Oct-23 $ 426.00 - - Nov-23 -
Nov-23 $ 426.00 - - Dec-23 -
Dec-23 $ 426.00 - - Jan-24 -
Jan-24 $ 426.00 - - Feb-24 -
Feb-24 $ 426.00 - - Mar-24 -
Mar-24 $ 426.00 - - Apr-24 -
Apr-24 $ 426.00 - - May-24 -
May-24 $ 426.00 - - Jun-24 -
Jun-24 $ 426.00 - - Jul-24 -
Jul-24 $ 426.00 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Steel Scrap CFR Taiwan (Argus)

Monthly Overview - May-23

3rd Month Forward Curve

600
(Last Business Day)
360

500 355
Front Month
350 Average $353.28
400
Minimum $347.00
$ per tonne

345
Maximum $362.00

$ per tonne
300
340

200 335

330
100

325

0 Volume (ex UNA) May-2023

320 Lots 249

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots 249
Tonnes 2,490

Volume and Futures Market Open Interest (MOI) Volume Year To Date
900 250
Lots 1,211
Tonnes 12,110
800

200
700

600
Volume (lots)

150

MOI (lots)
500

400
100

300

200
50

100

0 0
Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 10 20 30 40 50 60
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 357.64 9 - Jun-23 57
Jun-23 $ 349.00 180 57 Jul-23 5
Jul-23 $ 348.50 21 5 Aug-23 5
Aug-23 $ 339.00 33 5 Sep-23 -
Sep-23 $ 335.00 6 - Oct-23 -
Oct-23 $ 335.00 - - Nov-23 -
Nov-23 $ 335.00 - - Dec-23 -
Dec-23 $ 335.00 - - Jan-24 -
Jan-24 $ 335.00 - - Feb-24 -
Feb-24 $ 335.00 - - Mar-24 -
Mar-24 $ 335.00 - - Apr-24 -
Apr-24 $ 335.00 - - May-24 -
May-24 $ 335.00 - - Jun-24 -
Jun-24 $ 335.00 - - Jul-24 -
Jul-24 $ 335.00 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Steel Scrap CFR Turkey (Platts)

Monthly Overview - May-23

3rd Month Forward Curve

600
(Last Business Day)
382

500 380
Front Month
378 Average $379.22
400
376 Minimum $370.00
$ per tonne

Maximum $392.00

$ per tonne
300 374

372
200
370

100 368

366
0 Volume (ex UNA) May-2023
364 Lots 61,977

Prompt Month Volume (inc UNA) May-2023

Trade Date
Lots 63,777
Tonnes 637,770

Volume and Futures Market Open Interest (MOI) Volume Year To Date
120,000 25000
Lots 343,141
Tonnes 3,431,410

100,000
20000

80,000
Volume (lots)

15000

60,000 MOI (lots)

10000

40,000

5000
20,000

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 1,000 2,000 3,000 4,000
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 379.38 4,727 - Jun-23 1,999
Jun-23 $ 377.50 18,065 1,999 Jul-23 2,049
Jul-23 $ 370.00 8,702 2,049 Aug-23 1,070
Aug-23 $ 371.00 4,235 1,070 Sep-23 1,192
Sep-23 $ 370.00 3,685 1,192 Oct-23 3,700
Oct-23 $ 369.50 16,465 3,700 Nov-23 583
Nov-23 $ 371.00 1,660 583 Dec-23 500
Dec-23 $ 372.50 1,668 500 Jan-24 792
Jan-24 $ 373.00 777 792 Feb-24 761
Feb-24 $ 370.00 677 761 Mar-24 755
Mar-24 $ 372.00 645 755 Apr-24 724
Apr-24 $ 373.00 585 724 May-24 810
May-24 $ 373.50 506 810 Jun-24 835
Jun-24 $ 373.00 580 835 Jul-24 200
Jul-24 $ 373.00 800 200 Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Steel HRC FOB China (Argus)

Monthly Overview - May-23

3rd Month Forward Curve

900
(Last Business Day)
570
800

700 560 Front Month

Average $571.91
600
550 Minimum $565.00
$ per tonne

500 Maximum $577.00

$ per tonne
400 540

300
530
200

100 520

0 Volume (ex UNA) May-2023

510 Lots 7,854

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots 7,854
Tonnes 78,540

Volume and Futures Market Open Interest (MOI) Volume Year To Date
9,000 3500
Lots 22,976
Tonnes 229,760
8,000
3000

7,000

2500
6,000
Volume (lots)

2000

MOI (lots)
5,000

4,000
1500

3,000
1000

2,000

500
1,000

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 100 200 300 400 500 600
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 565.77 585 - Jun-23 148
Jun-23 $ 547.50 1,655 148 Jul-23 247
Jul-23 $ 549.00 2,025 247 Aug-23 328
Aug-23 $ 548.00 1,829 328 Sep-23 271
Sep-23 $ 548.00 955 271 Oct-23 334
Oct-23 $ 547.00 320 334 Nov-23 326
Nov-23 $ 533.00 207 326 Dec-23 309
Dec-23 $ 543.50 219 309 Jan-24 2
Jan-24 $ 537.50 28 2 Feb-24 4
Feb-24 $ 542.50 27 4 Mar-24 2
Mar-24 $ 535.50 4 2 Apr-24 -
Apr-24 $ 533.50 - - May-24 -
May-24 $ 533.00 - - Jun-24 -
Jun-24 $ 532.00 - - Jul-24 -
Jul-24 $ 532.00 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Steel HRC N. America (Platts)

Monthly Overview - May-23

3rd Month Forward Curve

1,400
(Last Business Day)
1,100

1,200 1,090
Front Month
1,080
1,000 Average $1,116.30
1,070 Minimum $1,089.55
$ per tonne

800 Maximum $1,160.00

1,060

$ per tonne
1,050
600
1,040
400
1,030

200 1,020

1,010
0 Volume (ex UNA) May-2023
1,000 Lots -

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots -
Tonnes -

Volume and Futures Market Open Interest (MOI) Volume Year To Date
16 12
Lots -
Tonnes -
14
10

12

8
Volume (lots)

10

8 6 MOI (lots)

6
4

2
2

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 0 0 1 1 1
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
Jan-00 $ 1,089.55 - - Jun-23 -
Jul-00 $ 1,032.00 - - Jul-23 -
Apr-02 $ 1,032.00 - - Aug-23 -
Mar-02 $ 1,032.00 - - Sep-23 -
Sep-02 $ 1,032.00 - - Oct-23 -
Feb-02 $ 1,032.00 - - Nov-23 -
Feb-02 $ 1,032.00 - - Dec-23 -
Apr-02 $ 1,032.00 - - Jan-24 -
Oct-02 $ 1,032.00 - - Feb-24 -
Jan-03 $ 1,032.00 - - Mar-24 -
Sep-11 $ 1,032.00 - - Apr-24 -
Apr-04 $ 1,032.00 - - May-24 -
Jul-04 $ 1,032.00 - - Jun-24 -
Sep-07 $ 1,032.00 - - Jul-24 -
Jul-08 $ 1,032.00 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME HRC NW Europe (Argus)

Monthly Overview - May-23

3rd Month Forward Curve

1,200
(Last Business Day)
840

1,000 830
Front Month
820 Average $857.59
800
Minimum $834.15
$ per tonne

810
Maximum $915.25

$ per tonne
600
800

400 790

780
200

770

0 Volume (ex UNA) May-2023

760 Lots -

Volume (inc UNA) May-2023

Trade Date Prompt Month
Lots -
Tonnes -

Volume and Futures Market Open Interest (MOI) Volume Year To Date
7 3.5
Lots -
Tonnes -

6 3

5 2.5
Volume (lots)

4 2

MOI (lots)

3 1.5

2 1

1 0.5

0 0
Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23

Ex_UNA UNA MOI

Prompt End of Month - Volume End of MOI (lots)

- 0 0 1 1 1
Month Daily Settlement (inc UNA) Month - MOI
May-23 -
May-23 $ 835.35 - - Jun-23 -
Jun-23 $ 789.22 - - Jul-23 -
Jul-23 $ 789.22 - - Aug-23 -
Aug-23 $ 789.22 - - Sep-23 -
Sep-23 $ 789.22 - - Oct-23 -
Oct-23 $ 789.22 - - Nov-23 -
Nov-23 $ 789.22 - - Dec-23 -
Dec-23 $ 789.22 - - Jan-24 -
Jan-24 $ 789.22 - - Feb-24 -
Feb-24 $ 789.22 - - Mar-24 -
Mar-24 $ 789.22 - - Apr-24 -
Apr-24 $ 789.22 - - May-24 -
May-24 $ 789.22 - - Jun-24 -
Jun-24 $ 789.22 - - Jul-24 -
Jul-24 $ 789.22 - - Last Month MOI End of Month MOI

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Tin

Monthly Overview - May-23

Official Price by prompt date

45000

40000

35000 Cash
30000 Average $25,609.75
$ per tonne

25000
Minimum $24,300.00
Maximum $27,125.00
20000

15000

10000 3M
5000 Average $25,344.75
0 Minimum $24,125.00
Maximum $26,875.00

Trade Date

3M Cash

Volume and Futures Market Open Interest (MOI) Volume (ex UNA) May-2023
120,000 17000 Lots 98,466
16500
100,000 Volume (inc UNA) May-2023
16000
Lots 100,936
80,000
15500 Tonnes 504,680
Volume (lots)

15000

MOI (lots)
60,000 14500 Volume Year To Date
14000 Lots 484,186
40,000
13500 Tonnes 2,420,930
13000
20,000
12500

0 12000

Ex_UNA UNA MOI

LME Warehouse Stocks Warehouse Stock - May-23

6000
Delivered In 735
5000
Delivered Out -310
4000
Net 425
Tonnes

3000
2000
1000
0

Warehouse Stock - Year to Date

Sum of Open Tonnage Sum of Cancelled Tonnage
Delivered In 2,480
1500 Delivered Out -3,505
1000 Net -1,025
500
Tonnes

-500

-1000

-1500

-2000

Sum of Delivered_In Sum of Delivered_OUT Sum of Net

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.
 LME Zinc

Monthly Overview - May-23

Official Price by prompt date

4500

4000

3500 Cash
3000 Average $2,477.70
$ per tonne

2500
Minimum $2,224.00
Maximum $2,658.00
2000

1500

1000 3M
500 Average $2,490.23
0 Minimum $2,236.50
Maximum $2,675.00

Trade Date

3M Cash

Volume and Futures Market Open Interest (MOI) Volume (ex UNA) May-2023
2,500,000 330000 Lots 1,830,562
320000
Volume (inc UNA) May-2023
2,000,000
310000 Lots 1,951,677
300000
Tonnes 48,791,925
Volume (lots)

1,500,000

MOI (lots)
290000
Volume Year To Date
280000
1,000,000 Lots 8,740,876
270000
Tonnes 218,521,900
260000
500,000

250000

0 240000

Ex_UNA UNA MOI

LME Warehouse Stocks Warehouse Stock - May-23

100000
90000
Delivered In 43,850
80000 Delivered Out -9,325
70000
60000 Net 34,525
Tonnes

50000
40000
30000
20000
10000
0

Warehouse Stock - Year to Date

Sum of Open Tonnage Sum of Cancelled Tonnage
Delivered In 92,700
50000 Delivered Out -35,725
40000 Net 56,975
30000
20000
Tonnes

10000
0
-10000
-20000
-30000
-40000

Sum of Delivered_In Sum of Delivered_OUT Sum of Net

© The London Metal Exchange - An HKEX Company. 10 Finsbury Square, London EC2A 1AJ
The information contained within this presentation is for illustrative and educational purposes only and should not be relied upon in making any investment decision. The past performance
of any commodity, derivative or other product referred to in the presentation cannot be relied upon as a guide to its future performance. Whilst every effort has been made to ensure the
information is up-to-date and correct, the LME cannot guarantee that it is completely accurate and free from human error. The information is published "as is" without any warranty of any
kind, express or implied, as to accuracy of the information and the LME shall not be liable for any losses or damage that may result from use of the presentation as a consequence of any
inaccuracies in, or any omissions from, the information which it may contain. The information may not be reproduced, distributed or transmitted to any other person or incorporated in any
way into another publication or other material.