Martin Abbot is excited to see the statistics of the online transactions in 2010. The white-haired gentleman is very low-key, even if he can't find his resume on Wikipedia, but in the industry there is the name of "Mr. Metal." Because Aborton's London Metal Exchange (LME) is the world's largest non-ferrous metal futures exchange, the exchange's futures prices and inventory have an important impact on the production and sales of global non-ferrous metals, and its transaction price is widely used as the world. The benchmark price for metal trade.
Established in 1877, the London Metal Exchange continued to consolidate its leading position in the world in the past year, with both transaction volume and transaction volume reaching record highs. In 2010, the transaction volume reached 120.3 million hands, not only increased by 7.4% compared with the previous year, but also exceeded the trading volume of 113.2 million hands in 2008 before the financial crisis.
Martin Abbotn said that although the global economy was full of volatility in 2010, it was a year of rapid growth for the London Metal Exchange. Global metal demand recovery is strong, especially in Asia and Latin America. In this case, the recovery of raw material profits has brought the transaction volume to a new high.
Among the commodities, aluminum, copper and zinc have the most trading contracts. The three metals traded 50.1 million, 33.1 million and 18.8 million, respectively. Behind the record volume is the same high transaction. price. The amount of metals traded for the full year of 2010 reached $11.6 trillion, a figure that is even close to the gross domestic product of the world's richest country, the United States. In Aboton's view, the transaction volume of 11.6 trillion reflects the vibrancy of metal prices. The London Metal Exchange's transaction volume in 2010 increased by 4.2 trillion US dollars from the previous year, in large part because metal prices rose sharply last year, and prices such as copper and tin even hit record highs. Therefore, although the trading volume of the Stock Exchange is crazy, the price of metal is even more crazy.
Since the end of last year, the historical high price of copper has been one of the most important trading varieties on the London Metal Exchange. 70% of the world's total copper production is traded on the basis of the price published by the London Metal Exchange on a daily basis. In 2010, the trading volume of copper on the London Metal Exchange rose by 24.5% year-on-year. During the same period, the price of copper rose from 7317.5 US dollars per ton to 9522.5 US dollars, an increase of 30.1%.
In terms of supply, due to the financial crisis in the past two years, global investment in copper mines has tightened, and capacity expansion in the next two years is limited. On the demand side, not only the demand in emerging market countries is strong, but the demand of OECD countries also rebounds strongly. Driven by tight supply, copper stocks continue to decrease. The London Metal Exchange's copper inventories fell more than a third after hitting a high of 555,000 tons in February 2009. Market concerns about inventory supply have boosted copper prices. Future fundamentals will continue to support copper prices. Standard Chartered Bank expects total copper demand in 2011 to increase to approximately 20 million tons, with a supply and demand gap of 385,000 tons. In 2012, the gap was expanded to 562,000 tons. Many analysts believe that in the first quarter of this year, copper prices will historically stand on the 10,000-dollar mark per ton.
Although the price of copper has risen fiercely, the metal that has risen the most is tin. Tin is the most eye-catching metal in the market in 2010, and the annual price increase is close to 60%. Indonesia, the world's largest tin exporter, was affected by extreme weather, production was blocked, and supply was objectively cut. Another major tin producer in China, due to strong domestic demand, is difficult to guarantee exports. Therefore, the tin market will remain tight in the future, and the tin price will still be strongly supported.
Commodity prices are also a barometer of macroeconomics. In the past year, despite the many blows such as quantitative easing in the US and the debt crisis in the Eurozone, metal prices have continued to grow wildly. Because the macro economy continues to recover, it has stimulated demand for commodities. As metal prices have reached or even surpassed the pre-crisis level, the gap between the world economy and the world economy, which is still in the midst of recession, has continued to widen. Therefore, whether metal prices can still be effectively supported by fundamentals in the coming year, whether metal prices will become a huge bubble blown by the depreciation of the US dollar will cast a shadow over the greedy market feast.
In the crazy rally, although the sword of Damocles has been quietly hovering, the president of the London Metal Exchange, Abo Teng, will not care about this. His mission in 2011 was to plan to further explore new business areas. For Mr. Metal, his job is to compare as many metal trading types as possible according to Mendeleev's periodic table of elements.
Established in 1877, the London Metal Exchange continued to consolidate its leading position in the world in the past year, with both transaction volume and transaction volume reaching record highs. In 2010, the transaction volume reached 120.3 million hands, not only increased by 7.4% compared with the previous year, but also exceeded the trading volume of 113.2 million hands in 2008 before the financial crisis.
Martin Abbotn said that although the global economy was full of volatility in 2010, it was a year of rapid growth for the London Metal Exchange. Global metal demand recovery is strong, especially in Asia and Latin America. In this case, the recovery of raw material profits has brought the transaction volume to a new high.
Among the commodities, aluminum, copper and zinc have the most trading contracts. The three metals traded 50.1 million, 33.1 million and 18.8 million, respectively. Behind the record volume is the same high transaction. price. The amount of metals traded for the full year of 2010 reached $11.6 trillion, a figure that is even close to the gross domestic product of the world's richest country, the United States. In Aboton's view, the transaction volume of 11.6 trillion reflects the vibrancy of metal prices. The London Metal Exchange's transaction volume in 2010 increased by 4.2 trillion US dollars from the previous year, in large part because metal prices rose sharply last year, and prices such as copper and tin even hit record highs. Therefore, although the trading volume of the Stock Exchange is crazy, the price of metal is even more crazy.
Since the end of last year, the historical high price of copper has been one of the most important trading varieties on the London Metal Exchange. 70% of the world's total copper production is traded on the basis of the price published by the London Metal Exchange on a daily basis. In 2010, the trading volume of copper on the London Metal Exchange rose by 24.5% year-on-year. During the same period, the price of copper rose from 7317.5 US dollars per ton to 9522.5 US dollars, an increase of 30.1%.
In terms of supply, due to the financial crisis in the past two years, global investment in copper mines has tightened, and capacity expansion in the next two years is limited. On the demand side, not only the demand in emerging market countries is strong, but the demand of OECD countries also rebounds strongly. Driven by tight supply, copper stocks continue to decrease. The London Metal Exchange's copper inventories fell more than a third after hitting a high of 555,000 tons in February 2009. Market concerns about inventory supply have boosted copper prices. Future fundamentals will continue to support copper prices. Standard Chartered Bank expects total copper demand in 2011 to increase to approximately 20 million tons, with a supply and demand gap of 385,000 tons. In 2012, the gap was expanded to 562,000 tons. Many analysts believe that in the first quarter of this year, copper prices will historically stand on the 10,000-dollar mark per ton.
Although the price of copper has risen fiercely, the metal that has risen the most is tin. Tin is the most eye-catching metal in the market in 2010, and the annual price increase is close to 60%. Indonesia, the world's largest tin exporter, was affected by extreme weather, production was blocked, and supply was objectively cut. Another major tin producer in China, due to strong domestic demand, is difficult to guarantee exports. Therefore, the tin market will remain tight in the future, and the tin price will still be strongly supported.
Commodity prices are also a barometer of macroeconomics. In the past year, despite the many blows such as quantitative easing in the US and the debt crisis in the Eurozone, metal prices have continued to grow wildly. Because the macro economy continues to recover, it has stimulated demand for commodities. As metal prices have reached or even surpassed the pre-crisis level, the gap between the world economy and the world economy, which is still in the midst of recession, has continued to widen. Therefore, whether metal prices can still be effectively supported by fundamentals in the coming year, whether metal prices will become a huge bubble blown by the depreciation of the US dollar will cast a shadow over the greedy market feast.
In the crazy rally, although the sword of Damocles has been quietly hovering, the president of the London Metal Exchange, Abo Teng, will not care about this. His mission in 2011 was to plan to further explore new business areas. For Mr. Metal, his job is to compare as many metal trading types as possible according to Mendeleev's periodic table of elements.
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