The London Metal Exchange or LME is a futures exchange based in London, England, that is the world's largest market in options contracts for aluminium, copper, tin, nickel, zinc, lead, aluminium alloy, North American Special Aluminium Alloy (NASAAC), cobalt, molybdenum, steel billet, polypropylene, and linear low density polyethylene.
Additional meaning of London Metal Exchange:
The LME offers contracts with daily expiry dates of up to three
months from trade date, along with longer-dated contracts, it also
allows for cash trading. It offers hedging, worldwide reference pricing,
and the option of physical delivery to settle contracts.