CHICAGO, Aug. 1, 2024 — CME Group, the premier global derivatives marketplace, announced today that its Lithium Hydroxide and Lithium Carbonate futures contracts achieved record open interest on July 31, 2024.
The open interest for Lithium Hydroxide futures reached 26,802 contracts, surpassing the previous high of 26,627 contracts set on July 30, 2024. Similarly, Lithium Carbonate futures open interest climbed to 1,092 contracts, exceeding the prior record of 1,062 contracts achieved the previous day.
Jin Hennig, CME Group’s Managing Director and Global Head of Metals, commented on the milestone: “With lithium being a crucial element in small-device batteries for phones, electric vehicles, and other applications, the growing demand is intensifying the need for effective price risk management. Our lithium futures market is experiencing unprecedented interest, with open interest and trading volumes at all-time highs. Notably, trading in our Lithium Hydroxide futures has already exceeded the total volume for all of 2023 within just the first half of 2024.”
CME Group continues to offer a broad range of benchmark metals products, reflecting the increasing importance of battery metals in the global market.
