Overview
In Q1 2024, LME volumes surged with overall average daily volume (ADV) up 31% year-on-year, and market open interest (MOI) up 21%. Particularly strong growth was seen in LME Lead, with ADV at a record high of 83,431 lots in March 2024 – and up in Q1 by 48% year-on-year. LME Nickel ADV increased 75%, with MOI up 47% compared to the same period in 2023.
Quarterly volumes
|
|
ADV Q1 2024 (lots) |
ADV Q1 2023 (lots) |
Percentage change |
|
Total |
659,436 |
503,544 |
31% |
|
Aluminium |
259,914 |
200,531 |
30% |
|
Copper |
150,059 |
132,518 |
13% |
|
Zinc |
103,241 |
76,841 |
34% |
|
Nickel |
60,991 |
34,840 |
75% |
|
Lead |
74,135 |
50,252 |
48% |
|
Tin |
5,989 |
4,421 |
36% |
More LME volumes data can be found here.
Other data highlights
- Options and TAPOs: ADV in Q1 was 35,143 lots, up 47% year-on-year and 41% on 2023 full year.
- LME Copper Options and TAPOs: March ADV was at its highest since January 2015 with 13,357 lots traded and open interest at its highest for six years.
- Cash-settled futures: in Q1 2024, LME Steel Scrap CFR Turkey traded 2.9 million tonnes, a 38% increase in ADV year-on-year.
- Monthly (3rd Wednesday) electronic volume: March 2024 was a record month for 3rd Wednesday volume (with 19,327 lots traded), and Q1 2024 ADV was up 20% year-on-year.
NB: Data excludes UNA trades.
