Polypropylene Contract Specification

Contract Size: Standard delivery 24.75 tonnes per contract lot.

Delivery points: LME approved warehouses in Houston, Baton Rouge and Mobile (North America), Antwerp and Rotterdam (Europe), Singapore, Gwangyang and Port of Tanjung Pelepas (PTP) (Asia).

Plastics Warrants (PWs) will be held in the LME's SWORD system as PP Warrants. All PP Warrants will be deliverable against the PP global contract.

North American Polypropylene (PN)

Grade	Melt Flow Rate (MFR)	Deliverable
Homopolymer general purpose injection moulding grade. Nominal melt flow rate 12 without additives.	12 (-2/+3)	North America
Homopolymer general purpose injection moulding grade. Nominal melt flow rate 20 without additives.	20 (+/-3)	North America
Homopolymer general purpose injection moulding grade. Nominal melt flow rate 25 without additives.	25 (+/-5)	North America
Homopolymer general-purpose fibre (‘raffia') extrusion grade. Nominal melt flow rate 3.5 without additives.	3.5 (+/-1)	North America

Contract Size: Standard delivery 24.75 tonnes per contract lot.

Delivery points: LME approved warehouses in Houston, Baton Rouge and Mobile (North America).

Plastics Warrants  (PWs) will be held in the LME's SWORD system as PP Warrants. Only Warrants for polypropylene held in North America will be deliverable against the PN contract.

European Polypropylene (PE)

Grade	Melt Flow Rate (MFR)	Deliverable
Homopolymer general purpose injection moulding grade. Nominal melt flow rate 12 without additives.	12 (-2/+3)	Europe
Homopolymer general purpose injection moulding grade. Nominal melt flow rate 20 without additives.	20 (+/-3)	Europe
Homopolymer general purpose injection moulding grade. Nominal melt flow rate 25 without additives.	25 (+/-5)	Europe
Homopolymer general-purpose fibre (‘raffia') extrusion grade. Nominal melt flow rate 3.5 without additives.	3.5 (+/-1)	Europe

Contract Size: Standard delivery 24.75 tonnes per contract lot.

Delivery points: LME approved warehouses in Antwerp and Rotterdam (Europe).

Plastics Warrants  (PWs) will be held in the LME's SWORD system as PP Warrants. Only Warrants for polypropylene held in Europe will be deliverable against the PE contract.

Asian Polypropylene (PA)

Grade	Melt Flow Rate (MFR)	Deliverable
Homopolymer general purpose injection moulding grade. Nominal melt flow rate 12 without additives.	12 (-2/+3)	Asia
Homopolymer general purpose injection moulding grade. Nominal melt flow rate 20 without additives.	20 (+/-3)	Asia
Homopolymer general purpose injection moulding grade. Nominal melt flow rate 25 without additives.	25 (+/-5)	Asia
Homopolymer general-purpose fibre (‘raffia') extrusion grade. Nominal melt flow rate 3.5 without additives.	3.5 (+/-1)	Asia

Contract Size: Standard delivery 24.75 tonnes per contract lot.

Delivery points: LME approved warehouses in Singapore, Gwangyang and Port of Tanjung Pelepas (PTP) (Asia).

Plastics Warrants  (PWs) will be held in the LME's SWORD  system as PP Warrants. Only Warrants for polypropylene held in Asia will be deliverable against the PA contract.

LMEselect Polypropylene Contract Codes

PND    North American Polypropylene (US dollars)

PED     European Polypropylene (US dollars)

PAD    Asian Polypropylene (US dollars)

Delivery features

The LME has set standard procedures and standardised documentation for deliveries as outlined in the LME Rulebook. Delivery is by electronic transfer of Plastics Warrants (PWs) from seller to buyer using the LME’s SWORD system on the Settlement day. The seller has the choice of LME approved brand and LME approved delivery location for physical delivery.

Contract Size

Standard delivery is 24.75 tonnes per contract lot (weight tolerance of +/-0.8%).

Packaging of Deliverable Material

Delivery of physical material in pellet form in 55lb/25kg bags, palletised (shrink/stretch wrapped and covered with a plastic hood) with 55 bags per pallet. Each pallet detailed in each PW and shall consist of only one LME approved brand.

Plastics Warrants

Each PW is a bearer document of title representing a specified parcel of physical product in 25kg bags (55lbs in USA) in LME approved warehouses in LME approved delivery locations. Once the warehouse is satisfied with the documentation and visual inspection of the bagged, palletised (shrink/stretch wrapped and covered with a plastics hood) product, it will instruct its London Agent to create the relevant PWs using the LME’s SWORD system. Parameters have been set for deliverable material so that plastic delivered into LME approved warehouses more than eleven calendar months after the month of production cannot be placed on a PW. The seller has the choice of which PWs to deliver but must ensure that the appropriate PWs for the relevant contract are available to deliver by the deadline.

Regional Contract Delivery and PWs

Arbitration

In the case of unresolved disputes, arbitration is effected via the LME arbitration procedure, and/or by other body agreed by the parties.

Law/Regulation

English Law, with regulation by the LME and the Financial Services Authority (FSA).

Refer to the LME Rulebook for full rules and regulations of LME plastics contracts.