CME Group, the world's leading derivatives marketplace, today announced its new Spodumene CIF China (Fastmarkets) futures have launched and are available for trading. A total of 29 contracts traded on the first day, with participation from a number of firms including JA Commodities (Zhejiang) Ltd, Mitsubishi Corporation RTM International Pte Ltd, Wogen Resources Limited and Wooray Commodities Pte Ltd. The first trade was executed by Freight Investor Services Ltd.
"We are pleased to see early interest in our Spodumene futures, which provide an additional way to hedge price exposure across the lithium value chain," said
Jin Hennig, Managing Director and Global Head of Metals at CME Group. "We are already the leader in providing risk management tools that aid in the development of the battery metals industry, and we remain committed to responding to market needs as this space evolves."
"The launch of Spodumene futures is the latest milestone in the growth of the battery sector and we are pleased to be one of the first participants in these markets," said
Roger Quek, CEO and Managing Director at Straits Financial Services Pte Ltd. "Our clients continue to seek exposure to essential raw materials in the energy transition and CME Group's suite of products provide the most liquid and efficient way to access these markets today."
"As one of the leading commodity traders in the industrial metals space, we are pleased to be one of the first to trade the Spodumene futures," said
Amanda Xiong, General Manager at Wooray Commodities Pte Ltd. "Battery fabrication is rapidly growing and having access to CME Group's suite of lithium products will provide additional capabilities for our clients."
"We are pleased to participate in CME Group's new Spodumene futures markets, which provide additional hedging capabilities and price discovery across the lithium value chain," said
Tom Qiu, General Manager of Mitsubishi Corporation RTM International Pte Ltd. "Production of lithium and related feedstocks is accelerating and these new contracts, alongside CME Group's other lithium products, will help the industry be more effective to meet growing demand."
Spodumene CIF China (Fastmarkets) futures are listed by and subject to the rules of COMEX. For more information, please visit here.
