The London Metal Exchange has announced that the LME steel billet contracts have reached a double milestone with a turnover exceeding $250,000, and over 260,000 mt or 4,000 lots traded.
Up to now, 21 members of the Exchange have participated in trading the contracts that only began cash trading on 24 July, 2008. Since the introduction of cash trading the volume of contracts has doubled, according to the LME release on the issue.