The Chicago Mercantile Exchange’s lithium hydroxide futures contract opened 2026 with its highest-ever weekly volume, trading 8,296 tonnes during the first full week of January, according to data released January 12. This figure surpasses the previous weekly peak of 6,366 tonnes recorded in mid-February 2025.
Daily volumes also reached near-record levels. On January 5, 1,988 lots changed hands, marking the contract’s third-highest single-day total, followed by 1,997 lots on January 7, the fourth highest. Each lot represents one tonne of lithium hydroxide; only the February 11, 2025 session saw greater activity, at 2,161 lots traded.
Launched in 2021 and settled against Fastmarkets’ CIF China, Japan and South Korea assessment, the CME lithium hydroxide contract has seen steadily rising volumes and open interest since 2023, with record activity through 2025. “As spot prices and market activity have surged, it’s encouraging to see futures volumes following suit,” said Przemek Koralewski, global head of market development at Fastmarkets. He noted that what constituted a very strong month a year ago can now be traded in a week, underscoring increased market liquidity and the contract’s value as a risk-management tool amid volatility.
The near-term forward curve for the CME lithium hydroxide contract has gained sharply in recent weeks and remained in a robust contango as of January 12. Traders attribute the bullish sentiment to supply-chain destocking, anticipated strong demand from energy-storage applications, and broader optimism across base and industrial metals.
Meanwhile, China’s Guangzhou Futures Exchange saw its May 2026 lithium carbonate contract close at 156,060 yuan per tonne on January 12, up 12,640 yuan from the previous Friday and up from 126,560 yuan on January 5. Fastmarkets’ spot price assessments for battery-grade lithium carbonate (99.5% Li₂CO₃) and lithium hydroxide (56.5% LiOH) CIF China, Japan and Korea have also risen sharply over the past week. As of January 12, lithium carbonate was assessed at $16.50–20.00 per kilogram, and lithium hydroxide at $15.50–19.00 per kilogram, compared with $13.00–16.00 and $12.00–15.50 respectively a week earlier.
A range of lithium futures contracts, all settling against Fastmarkets’ price assessments, are listed on major exchanges including CME, SGX, ICE and LME.
Source: Fastmarkets Insights
