LME: The method for calculating the closing price of tin will be updated from September 7, 2026.
LME announced that starting from September 7, 2026, it will update the closing price calculation method for tin.
The LME announced that starting from September 7, 2026, it will update the calculation method for tin's closing price, adopting the Additional Weighted Average Price Calculation Methodology (Additional VWAP Methodology) to determine the closing prices for tin's Cash, 3M, and the first four third Wednesday contracts (monthly contracts).
Prior to this proposed reform, the closing price for LME tin (Tin) was primarily determined using the current Last Traded Price Methodology. Specifically:
During the designated closing pricing window, the LME uses the last eligible trade price within that time window as an important basis for the official closing price.
If there is insufficient trading volume or a lack of eligible trades, the closing price will be determined according to the fallback procedures specified in the Benchmark Methodology.
New Method:
Based on the trading volume and trade prices of all eligible trades within the pricing window, the volume-weighted average price (VWAP) will be calculated to form the closing price. Compared to relying on the last trade price, the VWAP reflects a broader market trading activity throughout the entire pricing window, reducing the impact of a single trade on the closing price, thereby enhancing the transparency, robustness, and representativeness of the price formation mechanism.
The closing price calculation window for the tin 3M contract (16:05:00.000 - 16:09:59.999), minimum volume requirement (MVR) of 5 lots, and rounding rule (to USD 1/mt) will remain unchanged.
After September 7, 2026, the metals and related contracts for which the closing price will be determined using the Additional Weighted Average Price Calculation Methodology are as follows:
Related Articles
Beijing's intervention is beginning to show results as the spread on U.S. Treasury bonds has narrowed significantly, and long-term bond traders are betting on further declines in yields.
IMF President urges nations to address fiscal issues: central banks must focus on combating inflation. The AI boom supports the global economy.
The trade war between the U.S. and Canada escalates again! Canada announces "equivalent countermeasures," with approximately $20 billion worth of U.S. goods facing tariffs of up to 50%.
Beijing's intervention is beginning to show results as the spread on U.S. Treasury bonds has narrowed significantly, and long-term bond traders are betting on further declines in yields.
IMF President urges nations to address fiscal issues: central banks must focus on combating inflation. The AI boom supports the global economy.
The trade war between the U.S. and Canada escalates again! Canada announces "equivalent countermeasures," with approximately $20 billion worth of U.S. goods facing tariffs of up to 50%.
RECOMMEND
