The London Metal Exchange (LME) posted a record high in metal trading volume in 2025. Nickel led the gains, with trading volume surging 30.7%, while copper rose 12.2% and other contracts increased between 2.2% and 15.6%.

Trading activity also hit a record in the fourth quarter, with average daily volume reaching 777,016 lots, exceeding the previous 2014 high. 

LME CEO Matthew Chamberlain said higher volumes reflect growing demand for price risk management amid geopolitical uncertainty and tight supply.