Trading in steel futures on LME surges to record volumes

Monday, 01 March 2010 17:09:53 (GMT+2)

Trading in steel futures on the London Metal Exchange (LME) reached record levels at the end of February with volumes and market open interest (MOI) growing substantially, an LME press release said on March 1.

Volumes in the LME's Mediterranean contract, which are measured in numbers of lots, rose to 1,857 lots from 335 lots in the previous week. February 23 marked the highest level of trading in one day since the launch of the contract in February 2008, with 922 lots traded.

MOI has increased 72 percent to 1,959 lots on February 25 from 1,138 lots on December 31, 2009 and is currently at a record level.

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