What is the LME price for metals?
Abbreviation: LME
The London Metal Exchange (LME) sets the global benchmark prices for base metals including aluminum, copper, zinc, nickel, and tin. LME prices drive pricing at distributors and service centers worldwide.
Related Terms
Spot Price
The spot price is the current market price for immediate delivery of a metal commodity. For aluminum, copper, and steel, spot prices fluctuate daily based on global supply and demand.
Steel Distributor
A steel distributor purchases steel from mills and resells it to manufacturers, fabricators, and machine shops. Also called a steel service center, they stock common grades and sizes for fast delivery.
Metal Service Center
A metal service center is a distributor that buys metal in large quantities from mills and resells it in smaller quantities with value-added processing such as cutting, sawing, and slitting.