CME Group, the world’s leading derivatives marketplace, has 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:
