1. Location and market positioning:
LME, located in London, England, is the largest non-ferrous metal exchange in the world, mainly trading basic metal futures and options contracts, such as copper, aluminum, lead, zinc, nickel and tin. LME is an international metal trading center with market participants from all over the world.
SHFE, located in Shanghai, China, is a RMB-denominated futures exchange, which mainly trades futures contracts such as nonferrous metals, precious metals, energy and agricultural products. SHFE's market participants are mainly China investors and attract more and more international investors.
2. Transaction varieties and contract specifications:
LME has a wide variety of transactions, covering basic metals such as copper, aluminum, lead, zinc, nickel and tin, and the contract specifications are generally a large number of standard contracts.
There are relatively few varieties of SHFE transactions, mainly copper, aluminum, zinc, lead, nickel, tin, gold, silver, rebar, rubber, etc. The contract specifications are generally smaller mini contracts.
3. Trading time and trading mechanism:
The trading time of LME is 1 1:00 am to 17:00 pm London time, and the trading mode is a combination of ringing and electronic trading system (LMEselect).
SHFE's trading time is from 9:00 am to 6:5438+05:00 pm Beijing time, and it is conducted through the electronic trading system.
4. Market influence and price representativeness:
The price and trading volume of LME have a high influence on the global non-ferrous metal market and are considered as an important reference benchmark for the global non-ferrous metal price.
The price and trading volume of SHFE mainly affect the China market. In recent years, with the continuous improvement of China's position in the global nonferrous metal market, the price of SHFE has attracted more and more attention from the international market.
In a word, LME and SHFE are two major metal exchanges, which are located in London, England and Shanghai, China, respectively, and there are certain differences in trading varieties, contract specifications, trading time and market influence.