Overview
LME futures and options average daily volume (ADV) in Q2 2024 reached a 10-year high at 730,385 lots, up 27% on Q2 2023.
Overall futures and options ADV in the first half of 2024 was up 29% on H1 2023, with market open interest (MOI) up 26%. Continued growth was seen in LME Lead, with ADV up by 38% year-on-year. LME Nickel ADV in the first half increased 76%, with MOI up 107% compared to the same period in 2023.
Quarterly volumes
|
|
ADV Q2 2024 (lots) |
ADV Q2 2023 (lots) |
Percentage change |
|
Total |
730,385 |
574,877 |
27% |
|
Aluminium |
292,622 |
245,343 |
19% |
|
Copper |
176,313 |
138,556 |
27% |
|
Zinc |
110,714 |
89,340 |
24% |
|
Nickel |
67,731 |
38,290 |
77% |
|
Lead |
70,306 |
54,499 |
29% |
|
Tin |
6,416 |
4,991 |
29% |
More LME volumes data can be found here.
LME Options and TAPOs highlights
- Options and TAPOs ADV across all contracts: ADV for H1 was at 38,157 lots, up 69% year-on-year and 54% on 2023 full year. April saw the highest ADV since February 2008 at more than 50,243 lots.
- Copper and nickel quarterly ADVs reached 10-year highs in Q2 2024:
- LME Copper: Q2 ADV reached 12,682 lots, up 56% year-on-year.
- LME Nickel: Q2 ADV reached 6,716 lots, up 376% year-on-year.
Other highlights
- Cash-settled futures: in Q2 2024, LME Steel Scrap CFR Turkey traded 3.3 million tonnes and up more than 90% year-on-year, with first half ADV at 4,921 lots and up 60% year-on-year.
- Monthly (3rd Wednesday) electronic volume: April and May volume achieved the respective highest and second highest monthly volumes ever, with 26,522 lots and 20,820 lots traded.
NB: Data excludes UNA trades.
