FX.co ★ CME Group To Expand Battery Metals Suite With Spodumene Futures Contract

CME Group Inc. (CME) announced on Monday an expansion of its battery metals product offerings with the introduction of a Spodumene CIF China (Fastmarkets) Futures contract, scheduled for launch on October 28, 2024, pending regulatory approval.

The new Spodumene CIF China (Fastmarkets) futures will be financially settled and governed by the rules of COMEX, the company stated.

CME Group continues to lead in managing battery metals risk. Notably, open interest in Lithium Hydroxide futures has reached a new record, exceeding 30,000 contracts for the first time in 2024 and extending into 2026. Additionally, open interest in Cobalt Metal futures remains strong and extends through 2028, offering crucial price transparency further along the curve.