CME ‘On Track’ With Aluminum Futures as Premium Trade Surges
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CME Group Inc., the world’s largest futures exchange, is “on track” to introduce a physically settled aluminum futures contract and is considering starting other metals products.
CME said last year it planned to start an alternative to the aluminum contract traded on the London Metal Exchange, the biggest metals bourse, to improve transparency. Consumers including brewer MillerCoors LLC complained that long waits to withdraw metals from warehouses monitored by the LME distorted prices, while producers including United Co. Rusal said the exchange needed to improve transparency.