With copper as a key component of the energy transition, demand for copper is expected to increase by 12.6 million metric tons (28.3 million metric tons in 2023 to a projected 40.9 million metric tons in 2040*). 

Interest in copper and the need to scale supply to meet future demand has put it front and center for investors, traders and hedgers. Supply challenges particularly in the U.S. have contributed to the story and early signs of potential supply lags materializing to meet this projected demand. 

COMEX Copper futures and options appeal to both investment and physical audiences have seen a record level of participation.

Platinum is not only a precious metal, it is also a vital component in catalytic converters and will play a crucial role in the energy transition.

Volumes in 2024 are up 48% compared to last year trading on average 33K contracts per day, including a record cleared day of 67K contracts on June 20. Open interest currently stands at 84K contracts, which is up 16% YTD.

The rising demand for electric vehicles is increasing the need in critical raw materials, especially lithium. In 2023, EV’s totaled 85% of all Lithium demand*. 

With that demand comes price risk and the need to hedge the exposure. As a result, 498 tons of Lithium Hydroxide futures have traded per day in June 2024. An increase of over 1,541% as more participants are looking to trade lithium hydroxide to manage their price risk.

Aluminum futures and options are helping traders manage their physical aluminum exposure across the supply chain. Aluminum futures continue to lead the way, up 102% YTD, trading on average 7K contracts per day. Open interest has also increased and now stands at over 5K contracts.

Since launching two years ago, Aluminum options liquidity has increased dramatically in 2024. ADV in June stood at 345 contracts, up 248% YTD, allowing marketing participants to hedge against price volatility in the Aluminum market.

Since their introduction in 2014, Weekly options have been providing market participants with a more precise hedge around macro events. Gold Weekly options are now trading over 21K contracts per day, up over 2,000% since they launched, followed by silver now trading over 3K contracts per day and copper at 1K contracts per day on average. 

Silver options trading volumes have increased 86% YTD to 14K contracts traded per day being fueled by rises in the energy transition and digital technologies. Gold options have increased 16% YTD to 58K contracts and Copper options have increased 116% to 13K contracts per day.

Micro Metals products were introduced to appeal to a wider audience with lower barriers to entry and less margin requirements compared to ETFs or CFDs. Since launching over a decade ago, the suite of products has gained significant traction now collectively trading over 120K contracts per day YTD. 

Micro Gold futures (MHG) are currently trading 27% more YTD at 93K contracts per day on average predominately from price volatility in the market. Micro Silver futures (SIL) are 56% up YTD at 17K contracts traded per day. Micro Copper futures (MHG) are up 139% YTD at 13K contracts mainly been driven on supply constraints. 

The Precious Metals Dinner will once again be back at Gotham Hall on September 11, 2024.

For sponsorship opportunities, tables and seat purchases please visit our event webpage.