LME Announces Full Year Exchange Volumes For 2004

The London Metal Exchange (LME) has today announced the annual volume figures for 2004. The results reveal another successful year for the Exchange, maintaining the record levels set in 2003. Total lots traded were just under 72 million with a value of over $3,000 billion for 2004.

Most significant in growth is the NASAAC (North American Special Aluminium Alloy Contract) with 1,192,100 lots traded, up 43% on 2003 figures. Primary Aluminium also showed year on year growth of 8.5% and traded options grew by 32% on 2003 figures (4,612,216 lots).

Commenting on the results, Simon Heale, LME Chief Executive said:

"I am delighted that we have maintained the record volumes achieved in 2003. These results are incredibly encouraging and demonstrate the excellent liquidity on the Exchange. They further reinforce the dominant role we play, and intend to continue to play, in the base metals market.

The growing success of the NASAAC contract, still under three years old, is testament to the LME’s ability to work closely with industry to launch successful new contracts, which meet the needs of the market."