Compared with the record volume in 2003, the volume of London Metal Exchange (LME) declined slightly in 2004. In 2004, 72 million contracts were sold, a year-on-year decrease of 0.6%, while volume in 2003 increased by 23.3%. In 2004, the volume of futures declined by 2% to 67.2 million lots. In addition to aluminum and NASAAC, the volume of other metal products declined. Among them, copper decreased by 6.5% and nickel decreased by nearly 25%. The volume of aluminum contract rose by 8.5%, NASAAC rose by 43%. In 2004, the trading volume of options increased by 32% to 4.61 million contracts. Aluminum and copper were major contributors, and their options traded year-on-year increased by 37% and 39% respectively. Aluminum is still the leader in the LME base metals. The volume of aluminum contracts in 2004 accounted for 43% of the total LME base metal trading volume, which was 40% higher than in 2003. In 2004, the aluminum trading share was 15% higher than copper.