Queries on why the LME price fields - High, Low, or BID, ASK look out of the market: example screenshot taken on 17/5/22 where the Low is showing -891.50. 

This was queried by the client as it is out of range of where the market was trading on that date.  The LME confirmed that this price was implied by them. 

The LME BID or ASK price is not the traded price, it’s a bid or an offer being put out to the market to see if anyone is interested. We see that brokers will use a “Good Till Cancelled” Order (GTC) which sometimes are out of tilt with the rest of the market. 

The HIGH or LOW could be directly impacted by these GTC out of the market BIDS, even though they aren’t traded, the high and low are the highest bid or the lowest bid on the day.