CME Group Lithium Hydroxide and Lithium Carbonate Futures Hit New Open Interest Records

Rhea-AI Summary

CME Group announced record open interest for its Lithium Hydroxide and Lithium Carbonate futures contracts on July 31, 2024. Lithium Hydroxide futures reached 26,802 contracts, while Lithium Carbonate futures hit 1,092 contracts. The surge in interest reflects growing demand for lithium and the need to manage price risk in the market.

Key highlights include:

• Record daily Lithium Hydroxide futures volume of 1,121 contracts on July 30, 2024
• Record Lithium Hydroxide options open interest of 579 contracts on July 31, 2024
• Average open interest for July 2024 was 24,775

Jin Hennig, CME Group Managing Director, noted that Lithium Hydroxide futures trading in the first half of 2024 has already surpassed full-year 2023 totals, indicating strong market participation and growing interest in lithium futures.

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CHICAGO, Aug. 1, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that its Lithium Hydroxide futures and Lithium Carbonate futures contracts reached record open interest on Wednesday, July 31, 2024. Lithium Hydroxide futures open interest rose to 26,802 contracts, exceeding the previous record of 26,627 contracts set on July 30, 2024. Lithium Carbonate futures open interest grew to 1,092 contracts, surpassing the previous record of 1,062 contracts achieved on July 30, 2024.

"A key component of small-device batteries used in phones, cars and more, lithium  demand is growing and creating an increased need to manage fluctuating price risk," said Jin Hennig, CME Group Managing Director and Global Head of Metals. "As a result, market participants are turning to our lithium futures market in record numbers driving up both open interest and volume. In just the first half of 2024, trading in our Lithium Hydroxide futures contract has already surpassed full-year 2023 totals."

CME Group offers the widest range of benchmark metals products. Additional battery metals highlights from July 2024 include:

• Record daily Lithium Hydroxide futures volume of 1,121 contracts on July 30, 2024
• Record Lithium Hydroxide options open interest of 579 contracts on July 31, 2024
• Average open interest for July 2024 was 24,775

CME Group's metals complex is listed by and subject to the rules of COMEX. For more information, please visit www.cmegroup.com/metals.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) 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. 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.  The company offers futures and options on futures trading through the  HYPERLINK "http://www.cmegroup.com/globex/index.html"CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

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SOURCE CME Group

FAQ

What records did CME Group's lithium futures contracts break on July 31, 2024?

CME Group's Lithium Hydroxide futures reached a record open interest of 26,802 contracts, while Lithium Carbonate futures hit a record of 1,092 contracts on July 31, 2024.

How much has CME Group's Lithium Hydroxide futures trading volume increased in 2024?

CME Group's Lithium Hydroxide futures trading volume in the first half of 2024 has already surpassed the total volume for the entire year of 2023.

What was the record daily volume for CME Group's Lithium Hydroxide futures in July 2024?

CME Group's Lithium Hydroxide futures reached a record daily volume of 1,121 contracts on July 30, 2024.

Why is there growing interest in CME Group's lithium futures contracts?

There's growing interest in CME Group's lithium futures due to increasing lithium demand and the need to manage fluctuating price risk in the lithium market, particularly for batteries used in phones, cars, and other devices.