_LME is the largest copper futures trading market in the world, established in 1876. Trading varieties are copper, aluminum, lead, zinc, nickel and aluminum alloy. The futures trading of copper began at 1877, and there are two kinds of copper traded:

Negative grade copper: Grade A copper

Copper bar: The specification standard is Grade A copper, and the weight is between 1 10- 125 kg.

Among them, the trading of cathode copper is the most active. All delivered copper must have Grade A copper approved by the London Stock Exchange, which conforms to the British BS 6017-1981standard classification specification.

The contract rules for Class A electrolytic copper are as follows:

Contract Quantity Unit 25 Tons Quotation USD/Ton Price Fluctuation Minimum Range 0.5 USD/Ton The delivery date is any trading day within three months. The trading time on the third Wednesday of each month is12: 00-12: 0512: 30-12: 35 (official quotation)15: 30-15. Member brokerage companies can be self-employed, or they can be clients in trading agent. Unlike other exchanges, the LME three-month futures contract is a continuous contract, so it is delivered every day. LME has set a lower limit for discounts in spot copper. The spot discount for March copper should not be less than $30. On the contrary, the spot premium can be unlimited. In addition, LME has no price limit.

American advanced copper

Copper traded in the New York Mercantile Exchange futures is generally high-grade electrolytic copper, but other quality copper, such as smelting, can also be delivered after conversion. In addition, COMES also trades copper options. COMEX copper futures contract: (high-grade copper) trading unit is 25,000 pounds, delivery grade 1, electrolytic copper quotation method, minimum price change is 0.05 cents per pound, daily closing amount is 20 cents per pound, trading time is 9:25- 14:00 new york time, and contract month is 1.