The London Metal Exchange had a steady year in 2009. Trading reached 112m contracts, a 1% decline on 2008’s record total of 113.2m. The contracts with the highest volumes were aluminium, copper and zinc for the second year in a row, with 49.7m, 26.5m and 16.6m lots respectively.
“2009, all things considered, was a very good year for the LME, and we have every confidence in a positive performance for 2010,” chief executive Martin Abbott told reporters on Friday.
Abbott said the results were far better than expected. The exchange had budgeted for a 10% fall in turnover amid plummeting global demand for base metals in 2009.
The figures represent strong results amid tough trading conditions, with...