CME Group Base Metals Off to a Great Start for 2017

View in your browser

Copper and Aluminum Climb High 

Record Growth in January  

COMEX Copper is off to a great start for 2017 

Over the last 13 days COMEX Copper contracts have seen record open interest, and it continues to climb:

  • As of February 1, open interest stood at a record high of 297,830 increasing 43% YoY.
  • Year-to-date volume is up 21%.
  • Crucial back month open interest (Cal 18 and beyond) is up 200% month-on-month.
  • Base Metals overall saw 23% YoY growth in January.

Copper-Futures_720x500.jpg

 Aluminum Contracts see Record January

Aluminum premium contracts continue to gain momentum with record volume and open interest in January:

  • Record volume of 768,125 MT (30,725 contracts) traded in January with aggregated open interest now surpassing 1.5 million MT (61,409 contracts).
  • Aluminum MW U.S. Transaction Premium Platts (25MT) futures (AUP) hit monthly record volume at 420,600 MT (16,824 contracts) and an OI record at 881,750 MT (35,270 contracts) on January 27.
  • Aluminium European Premium Duty-Unpaid (Metal Bulletin) futures hit monthly record volume of 169,250 MT (6,770 contracts) and record OI at 285,725 MT (11,429 contracts) on January 26.
  • Aluminum futures (ALI) hit record open interest at 28,800 MT (1,152 contracts) and record volume at 43,300 MT (1,732 contracts) in light of the rise in North American Midwest regional premiums.

OI-AL_720x500.jpg