CME Group said the first trades in its new U.S. zinc futures contract were executed on Aug. 20 through the CME Globex electronic platform. The physically settled contracts, listed by COMEX, cover September delivery and mark the market’s first regional zinc futures aligned with a U.S. duty-paid specification scheduled to take effect in March 2026.
Glencore and Trafigura were among the entities participating in the initial trades. The new contract aims to provide market participants with a regional price signal and risk-management tool as supply chains adjust to geopolitical fragmentation, according to Jin Hennig, CME Group’s Managing Director and Global Head of Metals.
Hennig said regional dynamics are increasingly shaping the U.S. zinc market, driven by domestic policy and supply security considerations. The contract is designed to address a gap in price transparency and hedging capacity for participants exposed to U.S.-specific zinc pricing.
CME Group also highlighted broader metals market activity in related contracts. U.S. hot-rolled coil steel futures have averaged 1,483 contracts per day year-to-date, while European HRC contracts trade around 360 contracts daily. Copper futures averaged 107,000 contracts per day in the first half of 2026, up 12% from the prior year. The regional aluminum premium suite recorded 864 contracts per day in 2025.
