CME Group said on Tuesday that Glencore and Trafigura completed the first trades in its new U.S. zinc futures contract on the CME Globex platform, with deliveries scheduled for September.
The exchange-traded and centrally cleared contract was restructured to U.S. duty-paid status in March 2026 following client requests, replacing a prior benchmark tied to international pricing. The modification aims to provide a more accurate reflection of domestic market conditions amid evolving U.S. trade and supply policies.
Jin Hennig, CME Group’s Managing Director and Global Head of Metals, said the new contract addresses growing regional price divergence driven by geopolitical fragmentation and domestic policy shifts. He noted that U.S. zinc market dynamics are increasingly decoupled from global benchmarks, necessitating a localized hedging instrument for producers, consumers, and intermediaries.
The contract is designed to enhance transparency and risk management for participants exposed to U.S.-specific zinc pricing, including tariffs, logistics costs, and supply security considerations.
