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Billet
specifications according to:
• GOST 380-94 Grade
5sp/ps, or
• GOST 380-94 Grade 3sp/ps, or
• GB 20MnSi, or
• GB Q235, or
• ASTM A615/A, 615M-07 Grade 60, or
• BS4449: 2005
Shapes:
• 100S - 100mm x
100mm x (5,900mm – 6,000mm)
• 100L - 100mm x 100mm x (11,700mm – 12,000mm)
• 120S - 120mm x 120mm x (5,900mm – 6,000mm)
• 120L - 120mm x 120mm x (11,700mm – 12,000mm)
• 125S - 125mm x 125mm x (5,900mm – 6,000mm)
• 125L - 125mm x 125mm x (11,700mm – 12,000mm)
• 130S - 130mm x 130mm x (5,900mm – 6,000mm)
• 130L - 130mm x 130mm x (11,700mm – 12,000mm)
• 150S - 150mm x 150mm x (5,900mm – 6,000mm)
• 150L - 150mm x 150mm x (11,700mm – 12,000mm)
Length
Tolerance (+/- 0.5%)
Each lot
shall be made up from one shape and specification
only.
Brands:
All Steel Billets
delivered must be from the production of those
Brands named in this LME-approved list:
BELARUS
Brand: BMZ Zhlobin
Producer: RUE "Byelorussian Steel
Works" (BMZ)
GREECE
Brand: Hellenic Halyvourgia Velestino
Producer:
Hellenic
Halyvourgia S.A.
Brand: Hellenic Halyvourgia Aspropyrgos
Producer:
Hellenic
Halyvourgia S.A.
MALAYSIA
Brand: Ann Joo Prai
Producer: Ann Joo Steel Berhad
RUSSIA
Brand: Amurmetal Komsomolsk
Producer: Amurmetal
Brand: Zao Volga-Fest Frolovo
Producer: Frolovsky Electrostaleplavilny
Zavod
Brand: ZMZ Zlatoust
Producer: Zlatoust Metallurgical Works
TURKEY
Brand: Colakoglu Metalurji Diliskelesi
Producer: Colakoglu Metalurji S.A.
Brand: Diler Dilovasi
Producer: Diler Demir Celik Endustri ve
Ticaret A.S.
Brand: Ekinciler Sariseki
Producer: Ekinciler Demir ve Celik Sanayi A.S.
Brand: Yazici Sariseki
Producer: Yazici Demir Celik Sanayi ve Turizm
Ticaret A.S.
UKRAINE
Brand: Istil Donetsk
Producer: CJSC
Lot
size:
Warrant lot sizes: 65
metric tonnes (+/- 2%).
Delivery:
In LME listed facilities.
Initial delivery
locations: Turkey, Marmara region; United Arab
Emirates, Dubai.
Please note, the
specifications below are subject to
change.
Billet specifications
according to:
• GOST
380-94 Grade 5sp/ps, or
• GOST 380-94 Grade 3sp/ps, or
• GB 20MnSi, or
• GB Q235, or
• ASTM A615/A, 615M-07 Grade 60, or
• BS4449: 2005
Shapes:
• 100S - 100mm x 100mm x
(5,900mm – 6,000mm)
• 100L - 100mm x 100mm x (11,700mm –
12,000mm)
• 120S - 120mm x 120mm x (5,900mm –
6,000mm)
• 120L - 120mm x 120mm x (11,700mm –
12,000mm)
• 125S - 125mm x 125mm x (5,900mm –
6,000mm)
• 125L - 125mm x 125mm x (11,700mm –
12,000mm)
• 130S - 130mm x 130mm x (5,900mm –
6,000mm)
• 130L - 130mm x 130mm x (11,700mm –
12,000mm)
• 150S - 150mm x 150mm x (5,900mm –
6,000mm)
• 150L - 150mm x 150mm x (11,700mm –
12,000mm)
Length Tolerance (+/- 0.5%)
Each lot shall be made up
from one shape and specification
only.
Brands:
All Steel Billets delivered
must be from the production of those
Brands named in the LME-approved
list.
Lot size:
Warrant lot sizes: 65
metric tonnes (+/- 2%).
Delivery:
In LME listed facilities.
Initial delivery locations:
South Korea, Inchon (Incheon);
Malaysia, Johor.
LME delivery
The LME approves
locations as good delivery points for a particular
metal, typically located in areas of high
consumption or a natural trading hub. Within those
locations the LME approves, but does not own,
individual warehouse companies. The LME and the
warehouse company have a contractual agreement which
sets out strict criteria outlining the role and
responsibilities of the warehouse company.
The LME approves specific producer “brands”, which
conform to the minimum contract specification, that
are then good for delivery to an LME warehouse. Non
approved metal will not be allowed to be delivered.
The processes involved in approving locations,
warehouses and brands are available to view on the
LME
website: www.lme.com
Delivery document
Approximately only 0.5%
of LME contracts end in delivery. If a contract does
go to delivery it is by transfer of an LME warrant.
The LME warrant is a:
• Bearer document of title, of a specified brand, of
a specified lot of metal in a specified
location and warehouse
• Declaration of conformity with the LME rules
LME warrants are generated electronically by the
London Agent of an LME warehouse company. Title to
the warrant and therefore metal is transferred
electronically via “SWORD” system, in a secure
closed network.
Delivery process
1. Delivering in
Once the decision has been made to deliver, the
selling client delivers metal, which must be of an
approved LME brand, conforming to the LME
specification for that metal, into an approved
warehouse of their choice.
The warehouse company checks the appearance and
documentation supplied with the metal and, if in
order, creates an LME warrant via their London
agent. The delivery of the metal onto LME must pass
through an LME clearing member. The LME member would
have a contractual arrangement as principal to
principal with the selling client or merchant who is
making the physical delivery.
The selling
client may:
• Decide to keep the LME warrants and use them to
finance the physical metal now sitting in an
LME warehouse - Finance Banks hugely favour
securitising loans against warranted LME
metal on warrant in LME listed warehouses
• Receive cash, basis the LME price, two days after
the creation of the LME warrant
2. Taking
delivery
LME warrants are allocated to the “longs” or buyers
in the market through the clearing system via SWORD.
Once the decision has been taken to take delivery of
metal the client advises his broker and is allocated
warrants. If these warrants do not represent the
brand or location desired these may be switched, on
discussion with the LME broker.
The warrants are cancelled, via the broker and the
warehouse company’s London agent through SWORD. On
presentation of the cancelled LME warrant, the
warehouse company, will arrange for outward delivery
of the metal. |
