Trading In Steel Futures Surges On The London Metal Exchange To Record Volumes And Open Interest - Record Trading Of LME Steel Futures In Last Week Of February

Trading in steel futures on the London Metal Exchange reached record levels last week with volumes and market open interest growing substantially.

 Volumes in the Exchange’s Mediterranean contract, which are measured in no. of lots, rose to 1,857 lots from 335 lots the previous week. Tuesday, 23rd February marked the highest level of trading in one day since the launch of the contract in February 2008 with 922 lots traded.

 So far in 2010, the LME has seen the 3 most traded dates since launch of the Mediterranean contract.

Market Open Interest (MOI) has increased 72% since the start of the year to 1,959 lots on Thursday, 25th February from 1,138 lots on 31st December, 2009 and is currently at a record level.