New York Beating London as Trading Hub for Booming Cobalt Market
- Long-term open interest signals industrial hedging activity
- CME Group leads battle to capitalize on surging cobalt usage
This article is for subscribers only.
Cobalt futures trading is taking off in New York as CME Group Inc. steals a march on its rival bourse, the London Metal Exchange, in the volatile and rapidly growing market for the critical battery metal.
Trading activity in CME’s contract has been gathering steam since its launch in December, with a flurry of recent transactions in long-dated contracts pointing to significant hedging activity by industrial users.