CME Group, the world’s leading derivatives marketplace, announced that it will launch Tungsten futures to meet rising demand for its metals complex, which registered record volume this year. Trading will start by early Q1 2027, pending all relevant regulatory reviews.

With annual production between 85,000 and 95,000 metric tons, the global tungsten market is worth over $20 billion based on current spot prices. It has been identified as a critical mineral by the U.S., the E.U., Japan, India and others. Tungsten has an active spot market but lacks a futures market.

The contract will be financially settled based on the Fastmarkets assessment for tungsten APT (Ammonium Paratungstate) duty unpaid basis CIF Rotterdam and Baltimore.

“Tungsten sits at the intersection of advanced manufacturing, semiconductor technologies and geopolitics, and our clients are increasingly seeking to hedge their exposure and improve price transparency,” said Jin Hennig, Managing Director and Global Head of Metals at CME Group. “CME Group Tungsten futures will join our growing suite of critical minerals and energy transition metal products, providing clients more opportunities to manage risk as global supply chains restructure.”

“This contract is an important new tool to manage the commercial risks involved in the physical trading and logistics of tungsten,” said Quentin Lamarche, CEO, TechMet SCM. “As critical mineral supply is at the forefront of every major economy, having transparent forward pricing will support reliable, long-term western supply chains.”

“For our manufacturing clients, tungsten is essential to production but has been difficult to budget for without a forward market,” said Maarten Gassmann, Managing Director, Grondmet. “This contract fills that gap, allowing them to plan their operations with greater cost certainty.”

“Growing volatility and concentrated supply are increasing the need for transparent, trusted price benchmarks in the tungsten market,” said Raju Daswani, CEO of Fastmarkets. “The launch of this contract, based on Fastmarkets’ tungsten APT assessment, is a significant step in the market’s development, connecting physical-market price discovery with new opportunities to manage price risk.”

Trading in CME Group’s metals business set a new record in the first nine months of 2026, with a total of 1.2 million contracts traded daily across precious and industrial metals activity, up 41% year-on-year.

The new contract will be listed by and subject to the rules of COMEX. For more information, please visit here.

Source: CME

CME Group Expands Dairy Business with New European Futures and Options

CME Group, the world’s leading derivatives marketplace, announced plans to launch new European dairy futures and options contracts before the end of 2026, pending all regulatory reviews.

The company will introduce new futures and options contracts for European Skimmed Milk Powder, European Butter, European Whey Powder and European Liquid Milk as a first step toward regional expansion following an agreement with the European Energy Exchange earlier this year.

These products will position CME Group to expand on recent record activity within the Dairy complex, including reaching record monthly open interest of an average 420,922 contracts a day in September, a 42% increase year over year, and an all-time daily open interest record of 461,493 contracts on September 29.

“We’ve long served the dairy community across the U.S., and now we’re bringing that same commitment to Europe,” said John Ricci, Global Head of Agricultural Products at CME Group. “By offering futures and options, we’re giving participants a more complete toolkit to deploy capital efficiently and manage regional price risk – all on a single platform alongside our U.S. complex.”

The new contracts will be financially settled and will initially track EEX indices before transitioning to CME Group indices. They will be listed on and subject to the rules of CME.

CME Group and EEX are also working to transition the EEX Weekly European Cheese Indices and the Pan European Butter Index to CME Group for continued benefit to the industry.

For more information on CME Group’s dairy products, please visit here.

Source: CME