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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (31028)	1/11/2009 8:29:19 PM
From: LoneClone	Read Replies (1) \| Respond to of 193918

Tin lags growth in LME trading volumes Release date: 06 Jan 2009 itri.co.uk The London Metal Exchange (LME) achieved another record year in 2008 with over 113 million lots traded, representing a year-on-year increase of nearly 22%. 2008 annual volume represented some $10.24 trillion in turnover, an increase of 7% on 2007. The bulk of activity was in the traditional non-ferrous metals contracts, although more recently introduced plastics and steel billet contracts also contributed to the record total. Aluminium futures, the Exchange’s largest contract, reached 48.3 million lots, an increase of 20% on 2007. Copper futures, meanwhile, were up nearly 24% year-on-year, at 26.5 million lots. Among the contracts showing the highest volume growth in 2008, nickel futures volume grew 37%, to 5.2 million contracts; lead futures were up 32% to 6.1 million; and zinc increased 28% to 16.1 million. Of the six primary metals, tin registered the smallest increase of 13%, to just below 1.5 million lots. “Against a backdrop of exceptional market turmoil during the year, this strong performance reinforces the LME’s position as the leading market for industrial metals,” said Martin Abbott, LME Chief Executive. “In addition to the launch of our steel billet futures contracts, 2008 also saw the introduction of new services, including the extension of our prompt calendar, with the market now able to trade aluminium and copper out to ten years, and lead, zinc and nickel out to five years, reflecting the growing demand for exchange-traded risk management products,” Abbott added. The furthest forward date for tin trading remains at 15 months.