Chicago 18 volt battery11/27/2023 The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). BrokerTec and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively. COMEX is a trademark of Commodity Exchange, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.ĬME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. For full contract specs, or for more information on CME Group's battery metals products, please visit here.Īs the world's leading derivatives marketplace, CME Group ( enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. The new contract will be listed by and subject to the rules of COMEX under the product name Cobalt Hydroxide CIF China (Fastmarkets) futures. Open interest in Cobalt Metal futures has also quadrupled over the last year, growing from approximately 5,000 contracts in September of last year to 20,607 contracts, equivalent to over 20,600 metric tons, on September 5, 2023. Trading in Cobalt Metal futures has already surpassed its total trading volume in 2022, with over 21,000 contracts traded year-to-date. The launch of the CME Group cobalt hydroxide futures contract, based on Fastmarkets' cobalt hydroxide price, ensures market participants have another tool to mitigate risk as these markets develop."Ĭobalt Hydroxide futures are complementary to Cobalt Metal futures, which have become the global benchmark for Cobalt prices since launching in December 2020. Raju Daswani, CEO of Fastmarkets, added, "Evolving battery raw material markets and electric vehicle growth continue to drive demand for hedging mechanisms throughout the cobalt supply chain. "As demand continues to grow, it has become more important to manage the price risk between global, standard-grade cobalt metal and the local hydroxide price delivered into China, where hydroxide is refined into battery-grade material."Ĭobalt Hydroxide futures will be financially-settled based on the Fastmarkets' cobalt hydroxide price assessment. "CME Group is pleased to offer market participants in the global battery supply chain more hedging granularity with a cobalt hydroxide contract," said Jin Chang Hennig, Managing Director and Global Head of Metals at CME Group. This is the fourth battery metals futures contract CME Group has launched in response to evolving hedging needs within the rapidly growing electric vehicle space. 18, 2023 /PRNewswire/ - CME Group, the world's leading derivatives marketplace, today announced that it will launch Cobalt Hydroxide futures on October 23, pending all relevant regulatory reviews.
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