The London Metal Exchange (LME) has announced its annual volume figures for 2007, revealing a third record year for the Exchange.
Nearly 93 million lots were traded, across futures and options, representing an increase of around 7% in 2006 figures. Four contracts saw volume growth of more than 10% on 2006 figures.
The primary aluminium contract saw futures growth of over 10%, taking the total traded to over 40 million lots; the Copper Grade A contract grew 13.6% to 21.4 million lots; the NASAAC contract grew over 19% to 1.2 million lots; and the Aluminium Alloy contract grew almost 11% to around 0.5 million lots.
Commenting on the results, Martin Abbott, LME chief executive said, “These results clearly demonstrate another excellent year for the LME, its high levels of liquidity and the continued confidence and credibility of its services. Our current and expanding portfolio of service offerings, led by the launch of the steel billet contracts in February, means that we are on track to meet our target to double volumes in the next five years.”