Metal Radar Docs

Inferred prices

description: Inferred prices are Metal Radar specials. Our inferred pricing algorithms calculate reasonable prices for contracts with lower volatility. Best known is our inferred price for the LME cash to 3-month spread, which is much closer to the market than the involatile LME cash to 3-month spread (even with LME implied pricing).

Note that inferred prices are not available for all contracts. Currently you will only find them in popular LME base metal contracts: cash, close to cash spreads (cash-3m particularly) and a special virtual inferred contract: the lowest price.

The lowest prices

For the LME base metals Metal Radar offers a special symbol 'lowest', which is the lowest of the cash and 3 month forward price.

Inferred prices in the API

In Our API Inferred prices can be found by prefixing the original field with Inferred:

InferredBid

is the inferred bid price

InferredAsk

is the inferred ask price

InferredBidDateTime

is the date time of the inferred bid price

InferredBidSize

is the size of the inferred bid price

Rate limiting

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Lowest favorable bid (LFB)

The Lowest Favourable Bid, or LFB, is the lowest of the inferred cash and 3-month future price for the base metals at the LME, using Metal Radar’s inferred pricing mechanism for contango/backwardation calculation.