More than 14 million transactions made in 30-day span.
The London Metal Exchange (LME) experienced record volumes in September, with 14.09 million lots traded. A transaction lot, or amount, can vary in size from 1 to 65 metric tons, according to the LME.
Average daily volume in September 2012 was up 8.5 percent from September 2011. At the September 2012 pace, more than 630,000 lots were traded per day.
Year-to-date in 2012, through the end of September, 119.1 million lots have been traded, “the equivalent of $10.9 trillion in notional turnover, which is up 11 percent from the corresponding period last year (107.0 million lots),” the LME says in a news release.
The LME’s previous monthly record was set in September 2011, with 13.97 million lots traded.
The LME, , describes itself as “the world center for industrial metals trading.” Participants can trade aluminum, copper, tin, nickel, zinc, lead, molybdenum, cobalt and steel billet.