10/31/2023 0 Comments Etc cobalt priceAfter I boarded my connecting flight in Denver, a pilot announced that we would be briefly delayed because Air Force One was also en route to Boise. The trip itself was largely uneventful, with one exception. is also incorporated in the Netherlands and regulated by the Dutch Authority for the Financial Markets (AFM), as well as the Central Bank of the Netherlands (DNB).O n September 13, I took my first plane trip in 18 months: Kansas City to Boise with a layover in Denver. is regulated in the Netherlands by the Dutch Authority for the Financial Markets (AFM) ( Investment Firm B.V. ( and is a member of the Securities Investor Protection Corporation ( BAL does not provide services to private or retail customers. In the United Kingdom, BrokerTec Europe Limited is authorised and regulated by the Financial Conduct Authority. CME Amsterdam B.V. Securities and Exchange Commission, is a member of the Financial Industry Regulatory Authority, Inc. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles and only a portion of those funds should be devoted to any one trade because traders cannot expect to profit on every trade. BrokerTec Americas LLC (“BAL”) is a registered broker-dealer with the U.S. Futures and swaps each are leveraged investments and, because only a percentage of a contract’s value is required to trade, it is possible to lose more than the amount of money deposited for either a futures or swaps position. Swaps trading should only be undertaken by investors who are Eligible Contract Participants (ECPs) within the meaning of Section 1a(18) of the Commodity Exchange Act. OpenMarkets and the information herein should not be considered investment advice or the results of actual market experience. Neither futures trading nor swaps trading are suitable for all investors, and each involves the risk of loss. ![]() The views expressed in OpenMarkets articles reflect solely those of their respective authors and not necessarily those of CME Group or its affiliated institutions. It combines feature articles, news briefs and videos with contributions from leaders in business, finance and economics in an interactive forum designed to foster conversation around the issues and ideas shaping our industry.Īll examples are hypothetical interpretations of situations and are used for explanation purposes only. OpenMarkets is an online magazine and blog focused on global markets and economic trends. 2023 maturity contracts accounted for 15% of total trading activity. 43% of the total traded contracts had settlement dates in 2021, while 2022 contracts accounted for 42% of total volume. In the case of cobalt, activity has mushroomed in both the short and long end of the curve, with traders using contract maturities as far out as December 2023. ![]() ![]() Usually, futures markets develop with most activity concentrated on the short end of the forward curve, meaning contracts that have a nearby settlement date. As of July 1, 2021, open interest was 1,780 MT, the equivalent of about $100m notional value. Since launching in late December 2020, the contract has quickly amassed over 1,000 MT of open interest. Even though cobalt metal is not used in the manufacturing of batteries, cobalt hydroxide, the material actually used in batteries, is priced as a percentage of the cobalt metal price, meaning that the cobalt metal standard grade assessment has relevance across the entire supply chain. ![]() In the physical market, this assessment is widely used for floating price indexation in term contracts. The COMEX Cobalt futures contract is a cash-settled futures contract that is based on an industry reference price, namely the Fastmarkets assessment for cobalt metal, standard grade, price basis in-warehouse Rotterdam.
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