CME Group to Increase Battery Metals Suite with Launch of Spodumene Futures on October 28 By Investing.com

CHICAGO, Sept. 30, 2024 /PRNewswire/ —  CME Group, the world’s main derivatives market, right now introduced that it’ll develop its battery metals suite and launch a Spodumene CIF China (Fastmarkets) Futures contract on October 28, 2024, pending regulatory evaluate.

“Our suite of cobalt and lithium products serve an important role in the rapidly evolving battery metals space, with industry adoption accelerating,” stated Jin Hennig, International Head of Metals at CME Group. “With this launch of Spodumene futures, we will expand hedging capabilities, making it easier for the market to manage the price differences across products in the lithium value chain.”

“ Albemarle (NYSE:) welcomes CME Group’s (NASDAQ:) launch of spodumene futures, which complements the lithium market’s evolving risk management needs,” stated Peter Hannah, Albemarle’s International Product Pricing Supervisor. “We recognize that trust in physical prices underpins confidence in futures trading, and are proud that our bidding event price discovery initiative has added valuable transparency to the spot market. The combination of liquid and robust physical and futures pricing mechanisms can help our industry grow.”  

“Developing a liquid and transparent lithium market is essential for all the players in the battery value chain and CME Group continues to work towards this goal,” stated Grant Donald, Chief Industrial Officer at Liontown. “A forward curve for key materials across the entire supply chain will be essential to effectively manage price risk for the rapidly growing clean energy market.”

“The spodumene futures contract launch with the CME Group marks a significant step forward for the lithium market,” stated Raju Daswani, Chief Govt Officer at Fastmarkets. “With this contract, the industry gains a tool to manage price risk associated with the spodumene price, conversion margins, as well as take a view on the lithium conversion spread itself. We believe this will positively contribute to the liquidity across the entire battery raw materials futures complex,” he added.

CME Group is the main market for managing battery metals danger. Open curiosity in Lithium Hydroxide futures surpassed 30,000 contracts for the primary time this 12 months and now extends via 2026. Open curiosity in Cobalt Metallic futures additionally stays strong and extends via 2028, offering important value transparency additional alongside the curve.

Spodumene CIF China (Fastmarkets) futures might be financially-settled and might be listed by and topic to the principles of COMEX. Fastmarkets is likely one of the most trusted cross-commodity value reporting businesses (PRA) within the agriculture, forest merchandise, metals and mining, and new era power markets. For extra info, please go to right here.

Because the world’s main derivatives market, CME Group (www.cmegroup.com) permits purchasers to commerce futures, choices, money and OTC markets, optimize portfolios, and analyze information “ empowering market contributors worldwide to effectively handle danger and seize alternatives. CME Group exchanges provide the widest vary of worldwide benchmark merchandise throughout all main asset courses based mostly on  rates of interest,  fairness indexes,  overseas change,  power,  agricultural merchandise  and  metals.   The corporate gives futures and choices on futures buying and selling via the CME Globex  platform, mounted earnings buying and selling by way of BrokerTec and overseas change buying and selling on the EBS platform.   As well as, it operates one of many world’s main central counterparty clearing suppliers, CME Clearing.  

CME Group, the Globe emblem, CME, Chicago Mercantile Alternate, Globex, and E-mini are emblems of Chicago Mercantile Alternate Inc.   CBOT and Chicago Board of Commerce are emblems of Board of Commerce of the Metropolis of Chicago, Inc.   NYMEX, New York Mercantile Alternate and ClearPort are emblems of New York Mercantile Alternate, Inc.   COMEX is a trademark of Commodity Alternate, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The is a product of S&P Dow Jones Indices LLC (“S&P DJI”). “S&P ®”, “S&P 500 ®”, “SPY ®”, “SPX ®”, US 500 and The five hundred are emblems of Normal & Poor’s Monetary Providers LLC; Dow Jones ®, DJIA ® and are service and/or emblems of Dow Jones Trademark Holdings LLC. These emblems have been licensed to be used by Chicago Mercantile Alternate Inc. Futures contracts based mostly on the S&P 500 Index are usually not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no illustration concerning the advisability of investing in such merchandise. All different emblems are the property of their respective house owners.  

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