Wild First Half for Metals Drives Big Jump in LME Earnings
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The London Metal Exchange enjoyed a strong first half on the back of a surge in trading volumes during a stormy period for global metals markets, according to the bourse’s owner Hong Kong Exchanges and Clearing Ltd.
HKEX said core earnings from its commodities unit — dominated by the world’s biggest metals exchange — jumped by 82% from a year earlier to $816 million. That’s the strongest result for the unit in years, driven by busier trading for metals from copper to aluminum, and the effect of a fee hike at the start of 2024.