Trading Unit
44,000 pounds of aluminum.
Price Quotation
U.S. cents per pound.
Trading Hours (All times are New York time)
Open outcry trading is conducted from 7:50 AM until 1:15 PM.
Electronic
trading is conducted via the CME Globex® trading platform from 6:00 PM Sundays through 5:15 PM Fridays, Eastern Time,
with a 45-minute break each day between 5:15 PM and 6:00 PM. Off-Exchange transactions can be submitted solely for clearing
to the NYMEX ClearPort® clearing website as an exchange of futures for swaps (EFS) or exchange of futures for physicals
(EFP) transaction until 5:15 PM, Monday through Friday, and the day preceding a holiday.
Trading
Months
Four consecutive months.
Minimum Price Fluctuation
$0.0005 (0.05¢) per pound ($22.00 per contract).
Maximum
Daily Price Fluctuation
$0.20 (20¢) per pound above or below the previous day's
settlement price, unless one of the two closest delivery month's trades at or is offered or bid for two minutes at the
limit. In that case, after a 15-minute halt, the market will reopen with the limits expanded by $0.20 (20¢) on either
side of the previous limit. This can happen no more than twice in a session for a maximum $0.60 (60¢) limit.
Last Trading Day
Trading terminates at the close of business
on the third to last business day of the delivery month.
Delivery
Exchange-licensed warehouses in Kentucky and Tennessee, with Illinois, Indiana, and Ohio also recognized under the
terms of the contract for potential future site locations.
Complete delivery rules and provisions are
detailed in Chapter 123 of the Exchange Rulebook.
Exchange of Futures for Physicals
(EFP) or Swaps (EFS)
The commercial buyer or seller may exchange a futures position
for a physical position or a swaps position of equal quantity. EFPs and EFSs may be used to either initiate or liquidate a
futures position.
Grade and Quality Specifications
Primary aluminum meeting all the requirements of the P1020A designation or primary aluminum of 99.7% purity with
a maximum iron content of 0.20% and a maximum silicon content of 0.10%.
Shapes
Low-profile sows weighing 600 to 1,735 pounds or T-bars weighing 600 to 1,735 pounds.
Position
Accountability Levels and Limits
Any one month/all months: 6,000 net futures
equivalent, but not to exceed 750 in the spot month.
Margin Requirements
Margins are required for open futures positions.
Trading Symbol
AL
