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Aluminum Futures Quotes
Commodity and futures prices like aluminum
prices are usually quoted the same way prices are quoted in the cash market (physical market). That is, in dollars, cents,
and sometimes fractions of a cent. Different commodities are quoted in different trading units. aluminum prices are quoted
per ounce. Be certain you understand the price quotation system for the particular commodity that you consider trading. The
NYMEX aluminum futures contract is a contract for future physical delivery of 44,000 lbs of aluminum; however, the vast
majority of the futures positions are offset well before delivery. The NYMEX aluminum futures contract is priced in dollars
and cents per pound. The aluminum futures trade in $0.0005 (0.05¢) increments, equivalent to $22.00 per contract. Example
of Futures Quote: 0.6980 means $0.6980 per pound
Aluminum Options Quotes
The NYMEX aluminum options contract controls 44,000 lbs of aluminum
based on the underlying futures contract. The aluminum option strike prices are $0.01 (1¢) per pound apart for strike
prices below $0.40 (40¢), $0.02 (2¢) per pound apart for strike prices between $0.40 (40¢) and $1.20, and $0.05
(5¢) per pound apart for strike prices above $1.20.
Example of Options Quote:
0.0070 means $0.0070 per lb
$0.0070 X 44,000 Lbs = $308.00
Click here to contact a commodities broker with experience in the aluminum market.
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