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Milestone month: Traders take a shine to Aluminum futures

CME Group Aluminum futures (ALI) have been on an upward trajectory in 2023 with over 420 unique participants trading the contract this year, up from 240 in 2022.

September was a record month with over 6.1K contracts trading per day. October has started even stronger, with over 6.8K contracts trading per day on average with 11.5K contracts trading on three consecutive days with open interest at 4.9K contacts as of 24 October.

Big in stature. Smaller in size. Micro Gold options went live on Oct. 2

Built on the success of Micro Gold futures, Micro Gold options are 1/10 of the size of standard Gold options contract. They offer enhanced precision for trading around macro events, allowing you to capitalize on market-moving opportunities.

Monthly and weekly Micro Gold options are now available under the following codes:

  • Monthly Micro Gold options (OMG)
  • Micro Gold Weekly Monday option (1MG-5MG)
  • Micro Gold Weekly Wednesday option (1WG-5WG)
  • Micro Gold Weekly Friday option (1FG-5FG)

Battery metals offering grows with the launch of Cobalt Hydroxide futures

Cobalt Hydroxide CIF CJK (Fastmarkets) futures (COH) will empower tomorrow’s technology, today. Cobalt Hydroxide futures are now available for trading and will be financially settled against the monthly average of Fastmarkets’ daily assessments for cobalt hydroxide CIF China.

The contract will provide a solution that promotes price transparency and streamlines price risk management for the growing needs of the EV and battery manufacturing sectors.

Battery metals in the driving seat: Lithium futures in high gear

Lithium Hydroxide futures (LTH), which launched in 2021, have seen accelerated adoption in 2023. Lithium demand is expected to surge in the coming years, driving up the need for price risk management in the EV industry.

On average, 136 contracts (or 136 metric tons) traded per day in September, while open interest surged to over 7K contracts (or 7K metric tons) that same month.

European Steel futures: taking the lead in steel liquidity

Launched in March 2020, European Steel futures (EHR) has firmly established itself within the marketplace. There has been record trading levels in 2023, with many participants active on-screen and via OTC brokers. Since hitting its 2023 volume peak in January, EHR has increased 57% compared to the same period in January 2022. 

The contract can be especially useful to protect inventory, hedge against future price movements, and for a variety of other commercial purposes. 

Manage your aluminum price risk with Aluminum options

Aluminum options (AX), launched in 2022 to complement and enhance our Aluminum product offering, have seen steady growth in 2023. 

Aluminum options trading volume has increased sharply in 2023, from seven contracts per day in 2022 to 50 contracts per day, due in part to the increased relevance of the underlying Aluminum futures contract (ALI). 

OpenMarkets: The Risks Ahead for Gold in a High Rate Environment

Joseph Stefans, MKS PAMP Group Head of Trading, shares his views on gold in an interview with Jin Hennig, CME Group Managing Director and Global Head of Metals.

Metals Insights: Does Higher for Longer Spell Trouble for Gold?

Gold has been struggling to find a firm footing. Can the precious metal recover in Q4. Or is the stage set for a poor finish to 2023? Bill Baruch at Blue Line Futures discusses three key narratives to watch.

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All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.

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