BaseMetals.com :: LME Group - LME volumes 10 percent up so far in 2010, 30 percent jump in May

Istanbul, 31 May 2010 - Turnovers on the London Metal Exchange (LME), the world's largest non-ferrous metals market, so far this year are ahead of comparative 2009 levels, with a big jump seen in volume last month, exchange CEO Martin Abbott said on Monday.

"2010 is higher than 2009 and 2008...we are 10 percent up on 2009," the LME CEO said at the BIR Convention here.

In 2009, the LME traded a total of 112 million lots, equal to 2.6 billion tonnes of material worth $7.4 trillion in value.

The last month on the LME - May 2010 - has seen a volume surge caused by the crisis in the eurozone and fears of sovereign debt contagion.

"The turnover in May 2010 was 30 percent higher than in (the same month) in 2009," Abbott said.

"Although we are for the large part providing a paper market there is an underlying physical market."

That ensures that physical delivery can be made and metal taken, meaning that the price reflects the industry's needs.

BaseMetals.com
press@basemetals.com
12 Camomile Street,London,EC3A 7PT
t: +44 (0)20 7929 6339
f: +44 (0)20 7929 6369

Outstanding	Excellent	Average	Poor

BaseMetals.com | press@basemetals.com | +44 (0)20 7929 6339

TERMS AND CONDITIONS

The Terms and Conditions for this service are here.

REPRESENTATIONS AND LIABILITY

1. Fastmarkets represents that:

(i) It will supply the Services in a professional way, using the care that can be reasonably expected for this type of business, and in accordance with the practices and policies which are commonly applicable in the information services industry:

(ii) it is duly empowered to supply the Information and Service(s) to the Client for the purposes specified in this Agreement and that the Service(s) and its use by the Client as specified in this Agreement will not infringe any intellectual property rights of any third party.

2. Although Fastmarkets will use all reasonable endeavours to ensure the accuracy and reliability of the Services, neither Fastmarkets, the Data Sources, or any third-party provider will be liable to the Client (or any third party) for direct, indirect or consequential loss or damage, including but not limited to loss of data, trading or other economic losses, arising out of any reliance on the accuracy of the Information (including but not limited to data, news and opinions) contained in the Service(s) or resulting in any way from the supply (or failure of supply) of the Services. However, Fastmarkets accepts liability for physical loss or damage to the Site caused by its negligence or wilful misconduct.

3. Except as expressly stated in this agreement, all express or implied conditions, warranties or undertakings, whether oral or in writing, in law or in fact, including warranties as to satisfactory quality and fitness for a particular purpose, are excluded.

4. The Client will indemnify Fastmarkets against any loss, damage or cost in connection with any claim or action that may be brought by any third party against Fastmarkets relating to any misuse of the Services by the Client.

5. To the extent permitted by law, under no circumstances will Fastmarkets� liability under this Agreement exceed the Service Fees paid to Fastmarkets by the Client, regardless of the cause or form of action.

The Fastmarkets Ltd Privacy Policy is here.