CME Group announced the first trades of its U.S. Zinc Futures contract on August 20, executed by Glencore and Trafigura via the CME Globex electronic platform.
The contract, listed by COMEX and physically settled, is designed to provide an exchange-traded, centrally cleared risk-management tool for the all-in U.S. zinc price. Initial trades were for September delivery, reflecting growing demand for regional price signals amid shifting global supply chains.
The launch follows CME Group’s March 2026 update to the zinc contract’s specification, transitioning it to U.S. duty-paid status. This change aligns the contract with domestic policy and supply security considerations, which CME Group noted are increasingly shaping U.S. zinc market dynamics.
Jin Hennig, Managing Director and Global Head of Metals at CME Group, said the new contract addresses a gap in regional price transparency as geopolitical fragmentation reshapes supply chains. "Regional price signals matter more than ever," Hennig stated. "The U.S. zinc market increasingly moves to its own dynamics—driven by domestic policy and supply security—and our new futures contract provides participants a precise tool to manage their exposure."
CME Group also highlighted recent trading activity in related metals contracts. U.S. Hot-Rolled Coil (HRC) steel futures have averaged 1,483 contracts per day year-to-date, while European HRC contracts traded 360 contracts daily. Copper futures averaged 107,000 contracts per day in the first half of 2026, up 12% year-over-year, and the regional Aluminum Premium suite traded 864 contracts per day in 2025.
