Tuesday, October 05,
Trading volumes on the London Metal Exchange’s Steel Futures contract hit a record high in September for the seventh month in a row, exceeding 1.8 million tonnes, the exchange said.
In September, the second full month of the exchange’s global contract after it merged its two regional Steel Futures contracts — Far East and Mediterranean – volumes reached 27,788 lots on the equivalent of more than 1.8 million tonnes of Steel Billet. September figures bring the total volumes since the start of 2010 to over 127,000 lots equivalent to 8.37 million tonnes.
The LME’s Steel Billet contract is the world’s first global exchange-traded steel contract to be settled by physical delivery.
Source: Reuters
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