European power markets maintained their impressive growth trajectory in 2024, with traded volumes reaching new record highs. By the end of October, both spot and derivative volumes had significantly surpassed the previous year’s totals, driven by rising energy demand and the ongoing transition to renewable energy sources.
At the same time, metals markets—especially ferrous and battery metals—are experiencing rapid expansion, fuelled by global infrastructure projects and the electric vehicle revolution.
The Singapore Exchange’s 62% Iron Ore futures contract remains a key benchmark, reflecting sustained demand for materials essential to construction and manufacturing. The London Metal Exchange’s Turkish Steel Scrap contract has also seen elevated activity, driven by a growing emphasis on sustainable practices and recycled materials.
Battery metals, particularly lithium, have become essential to the global energy transition. In 2024, the Chicago Mercantile Exchange reported a significant surge in Lithium Hydroxide futures trading, reflecting both the strategic importance of lithium and the growing demand for sophisticated price risk management tools. This rise underscores the need for transparent, advanced trading solutions that allow market participants to hedge against volatility in an increasingly complex and competitive market.
Though distinct, power and metals markets share common catalysts: global decarbonisation efforts and evolving supply chains. As these markets grow in complexity, efficient trading solutions are crucial to supporting their continued development.
Trayport’s software has played a pivotal role in advancing power and gas markets by offering brokers and exchanges access to platforms that optimise trading workflows, enhance transparency, and attract liquidity. For Traders, the Joule trading screen supports and informs trading decisions with transparency and trading tools.
Trayport technology is capable of offering the same benefits it’s demonstrated within European Power and Gas over the last 30 years, to related commodities markets such as metals, where it is already being used to assist in arranging OTC trades, and submitting trades for clearing to exchanges such as SGX, CME, EEX and ICE.
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