NYMEX Pleased with First Day Aluminum Futures Volume

The New York Mercantile Exchange announced the estimated first day volume for its new COMEX Division aluminum futures contract as 1,750 contracts. Exchange President R. Patrick Thompson said, 'These numbers rank with the opening day numbers of our most successful futures contracts including gold which traded 2,550 contracts on opening day and crude oil which traded 1,884 contracts on its first day. We are gratified to see the market utilize this risk management and price discovery tool designed in response to the needs of the North American aluminum industry.' The spot-month August and the active month September contracts both settled at 66.35¢ per pound.