Open interest in CME lithium futures increased through September, with the lithium hydroxide contract reaching 21,188 lots on September 30. That marked its highest level since February 3 and followed four consecutive months of growth from 16,389 lots on June 30.
The CME lithium carbonate contract reached a record monthly high of 8,007 lots on September 30, compared with 7,205 lots on August 31 and 6,472 lots on July 31. The contract launched in July 2023, and Fastmarkets linked its growing momentum to the global expansion of lithium iron phosphate battery chemistries.
Anna Chadwick, head of battery metals at broker FIS, said volatility on China’s Guangzhou Futures Exchange had prompted aggressive selling from Asia on CME battery contracts. Consumers sought to lock in longer-term hedges at lower levels, with transactions extending into calendar year 2028. The CME lithium hydroxide contract recorded its first trades for 2028 contract months in July.
Trading volume for the lithium hydroxide contract totaled 10,539 tonnes in September 2026, up from 9,455 tonnes in the corresponding month of 2025. Cumulative volume reached 81,955 tonnes as of September 30, 2026, compared with 124,606 tonnes during all of 2025.
CME Lithium Hydroxide Open Interest Hits 21,188 lots
Open interest rose as LFP gained traction and consumers locked in longer-term hedges, following hydroxide’s first 2028 contract-month trades in July.
Hydroxide’s record monthly volume was 19,590 tonnes in the first month of 2026; 17,013 tonnes in July 2025 ranked second.
The lithium carbonate contract recorded 2,734 tonnes of trading volume in September 2026, its second-highest monthly total since launch and up from 365 tonnes in the corresponding month of 2025. Cumulative volume reached 17,172 tonnes as of September 30, exceeding the 14,567 tonnes traded during all of 2025.
Both forward curves remained in soft near-term backwardation before shifting into contango. Lithium carbonate settled at $16.85 per kg for October and $16.40 per kg for November, then rose to $17.00 per kg for July 2027. Lithium hydroxide settled at $15.50 per kg for October and $15.44 per kg for November, rising to $17.65 per kg for June 2028.
Source: fastmarkets.com
