LONDON Copper contract
trading volumes on the London Metal Exchange fell in October,
marking the third consecutive month that volumes have dropped
on a year-on-year basis.
Copper contract trading volumes
fell to 2.69 million lots in October, down 13.8 percent from
3.12 million lots in September and nearly 17 percent below the
almost 3.24 million lots traded in October 2011.
The October volume is the
second-lowest level this year and is 11.2 percent below the
average monthly volume of 3.03 million lots seen so far in
Copper prices fell more than 5
percent during the month to levels seen prior to the Federal
Reserves third round of quantitative easing, announced in
Aluminum trading volumes also
dropped on a year-on-year basis, but there were strong gains in
other base metal contracts. Nickel and zinc volumes both jumped
nearly 40 percent year on year to 1.06 million lots and 2.87
million lots, respectively.
Stronger volumes were also seen
in lead and tin, while cobalt volumesat 507
lotsrose 3.8 percent from October last year but fell 71.1
percent from September.
Across all futures contracts,
trading volumes totaled 13.26 million lots in October, up from
12.76 million lots in the same month a year earlier but down
about 355,000 lots from September.
A version of this article
was first published by AMM sister publication Metal