The London Metal Exchange (LME) has announced that from mid-2026, it will cease to administer the LBMA Platinum and Palladium prices in order to focus on its core base metals offering.
The LME, in collaboration with LBMA, has engaged with London Platinum and Palladium Market (LPPM) participants on the planned change and is committed to ensuring a smooth and orderly transition to the new administrator once appointed.
Jamie Turner (LME Head of Trading and COO) commented: “Since becoming the pricing administrator for LBMA Platinum and Palladium in 2014, we have sought to be responsive to auction participant requirements and broader market dynamics. Given our strong growth profile and ambitious market development plans in our base metals markets, the PGM auctions no longer represent a core activity for us and, therefore, we believe it is in the best interests of the LME and the market to transition pricing to an alternative venue.”
Ruth Crowell (LBMA CEO) commented: "LBMA would like to thank LME for the efficient and effective running of the platinum and palladium auctions for over a decade. We are also committed to a smooth transition to a new provider, details to be announced in January 2026."
Philip Carter for Rough&Polished from London
