In heat exchange calculations, the log-mean temperature difference between the two streams is used as a basis upon which to size the exchanger. Try Perry - "The Chemical Engineer's Handbook", any edition.
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I'm not sure, but I think the OP is referring to a different thing than the LMTD between the fluids. Instead, this is looking at the metal temperature, such as might be used for calculating thermal expansion/contraction of the exchanger components, or for unacceptably hot/cold metal temperature during upset conditions (e.g., the cold fluid runs dry, melting the exchanger.
This is the first time I have heard of it, so I'm guessing a bit. You would want to examine the temperatures of both fluids under various conditions, and at various locations along their paths. The metal separating the fluids will be at some intermediate temperature. This will depend on respective fluid-to-metal heat conductivities etc.
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