CME’s Fastmarkets-linked cobalt contract trades for first time
The CME Group’s cash-settled cobalt futures contract, which is tied to Fastmarkets’ daily benchmark price assessment for the metal, was traded for the first time on Monday December 28.
One lot was traded for each month of the first quarter of 2021 at $15.60 per lb. These are the first three lots to be traded since the contract’s launch on December 14.
The contract, traded under the Bloomberg ticker MB071071, uses an average of the midpoint of Fastmarkets’ daily price assessment for cobalt standard grade, in-whs Rotterdam over each month for settlement.
Fastmarkets’ price assessment for cobalt standard grade, in-whs Rotterdam was at $15.30-15.90 per lb on Monday. The assessment has been rolled over since December 24 due to the year-end holiday season.