CME Group Copper Futures open interest surpasses 300,000 contracts for the first time

UNITED STATES February 16 2017 10:14 AM

CHICAGO (Scrap Register): CME Group has announced that the Copper futures open interest surpassed 300,000 contracts for the first time on Monday, February 13, 2017. 

Copper ended the trading session with a total of 300,996 contracts open interest, surpassing the previous record of 297,830 set on February 1, 2017.

“Copper and other industrial metals have continued to experience heightened levels of volatility and uncertainty,” said Young-Jin Chang, CME Group Global Head of Metals. 

“Increasingly market participants are using our deep, liquid COMEX Copper futures to hedge their price risk as evidenced by multiple open interest records and volume growth year to date," she added.

Since the start of 2017, Copper futures have clocked 14 open interest records, including 11 consecutive record days. Copper futures are listed by and subject to the rules of COMEX.