LME announces record volumes for first half of 2010
The London Metal Exchange has issued an unaudited statement for trading volumes during the first six months of 2010. Total lots traded on the exchange rose 7.5% to 59.3m compared with the corresponding period last year, while the average daily volume rose 8.1% to 478,260 lots.
Among the fastest growing contracts are Copper Futures and Options, up 20.4% to 16.3m lots in the first six months, and Lead Futures and Options, which grew 30.5% to 3.8m lots.
Trading of the exchange’s Mediterranean Steel Billet Futures grew 385% to 57,606 lots ahead of the planned merger with the Far East Steel Billet contract, due July 28.
In minor metals, trading in Cobalt totalled 2,782 lots (2,782 tonnes with a notional value of $112.8m) while Molybdenum saw 227 lots...