Adds detail on nickel and tin volumes in paragraphs 2-4
LONDON, Jan 7 (Reuters) - Average daily volumes at the London Metal Exchange $(LME.UK)$, the world's largest and oldest metals forum, gained 18% to 664,698 lots in 2024 with nickel volumes surging by 59%, the exchange said on Tuesday.
Nickel CMNI3 trading volumes at the LME, owned by the Hong Kong Exchanges and Clearing Ltd 0388.HK, rose after languishing since a March 2022 price spike that caused the LME to suspend trading.
"Nickel has rebounded back to levels seen in 2021 and our ferrous products continue to perform well as more firms manage their risk exposures through LME contracts," Matthew Chamberlain, LME chief executive, said in a statement.
LME tin volumes jumped by 26%, the exchange added.
(Reporting by Polina Devitt; editing by Jason Neely)
((polina.devitt@thomsonreuters.com; Reuters Messaging: polina.devitt.thomsonreuters.com@reuters.net))
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