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| Trading Unit |
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| 44,000 pounds of aluminum. |
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| Price Quotation |
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| U.S. cents per pound. |
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| Trading Hours (All times are New York time) |
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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. |
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| Trading Months |
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| 25 consecutive months. |
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| Minimum Price Fluctuation |
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| $0.0005 (0.05¢) per pound ($22.00 per contract). |
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| Maximum Daily Price Fluctuation |
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| $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. |
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| Last Trading Day |
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| Trading terminates at the close of business on the third to last business day of the delivery month. |
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| Delivery |
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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. |
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| Exchange of Futures for Physicals (EFP) or Swaps (EFS) |
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| 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. |
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| Grade and Quality Specifications |
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| 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%. |
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| Shapes |
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| Low-profile sows weighing 600 to 1,735 pounds or T-bars weighing 600 to 1,735 pounds. |
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| Position Accountability Levels and Limits |
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| Any one month/all months: 6,000 net futures equivalent, but not to exceed 750 in the spot month. |
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| Margin Requirements |
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| Margins are required for open futures positions. |
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| Trading Symbol |
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| AL |
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