London Metal Exchange said that trading in steel futures on the exchange hit another record level in June 2010, with 14,765 lots traded of its Mediterranean steel billet contract, representing 959,725 tonnes.
The LME has registered four consecutive months of record volumes in steel trading since March 2010. The surge in trading coincides with increased LME member participation and steel industry interest in risk management.
It also follows the LME's decision in December 2009 to merge its existing regional Mediterranean and Far East steel billet contracts into a single contract, as of July 28th 2010, with global delivery options.