Overview
LME futures and options average daily volume (ADV) in Q3 2024 reached 642,709 lots, up 17% on Q3 2023.
Overall futures and options ADV up to the end of September 2024 was up 25% on the same period in 2023, with market open interest (MOI) up 16%. Continued growth was seen in LME Nickel with ADV for the first three quarters of 2024 up 68% year-on-year.
Quarterly volumes
|
|
ADV Q3 2024 (lots) |
ADV Q3 2023 (lots) |
Percentage change |
|
Total |
642,709 |
574,877 |
17% |
|
Aluminium |
249,295 |
209,325 |
19% |
|
Copper |
148,491 |
135,842 |
9% |
|
Zinc |
101,542 |
97,646 |
4% |
|
Nickel |
62,891 |
40,811 |
54% |
|
Lead |
68,013 |
56,943 |
19% |
|
Tin |
6,375 |
5,105 |
25% |
More LME volumes data can be found here.
Other highlights:
- LME Steel Scrap CFR Turkey (Platts): ADV at the end of Q3 stood at 4,700 lots, up 67% compared to the same period last year, with total volumes at more than 900,000 lots, already surpassing 2023 full year volume (778,000 lots).
- LME Steel HRC FOB China (Argus): Q3 ADV surged to 923 lots, up 423% on Q3 2023. Total volume traded Q1-3 2024 stood at 81,000 lots, compared to 42,000 lots in 2023 (full year), with ADV up 114% year-on-year.
- LME Cobalt: Activity has picked up over the course of the year, with July ADV reaching 25 lots – the highest level since September 2019.
- Monthly (3rd Wednesday) electronic volume: September reached the second highest monthly volumes ever, with 21,015 lots, only surpassed by the 26,500 lots traded in April this year.
NB: Data excludes UNA trades.
