Latest news with #Fastmarkets'
Business Wire
a day ago
- Business
- Business Wire
ICE Launches its first Futures Contracts Based on Battery Materials
LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced the launch of its first futures contracts based on battery materials, expanding its energy and environmental markets – which represent the most liquid markets to trade these products - into critical minerals. ICE has launched four cash-settled battery materials contracts covering lithium hydroxide, lithium carbonate, cobalt and spodumene futures based on Fastmarkets' price assessments. 'Our customers are managing their way through heightened geopolitical risk, the evolving trade flow environment around critical minerals as well as the wider energy market,' said Jeff Barbuto, Global Head of Oil Markets at ICE. 'These contracts are important new additions to our energy derivatives offering and we're looking forward to working with the battery materials industry to find ways to add value to this space and build liquidity alongside our broader energy trading and clearing platform.' 'The battery raw materials industry relies on Fastmarkets' trusted benchmarks as enablers for trade and investment,' said Przemek Koralewski, Global Head of Market Development at Fastmarkets. 'Partnering with ICE further supports this growing market with the risk management tools it needs.' The new battery materials contracts join ICE's network of over 800 crude and refined oil products all underpinned by Brent, the price barometer for three quarters of the world's internationally traded crude oil, and ICE Low Sulphur Gasoil the global benchmark for refined oil products at the center of middle distillates trading. Gasoil futures and options reached record open interest (OI) of 1.43 million contracts on May 29, 2025, up 29% year-over (y/y). Gasoil Options hit a single day volume record of 22,650 contracts on May 20, 2025, surpassing the previous record set in May 2016. ICE's global oil benchmarks hit successive OI records during May 2025 with ICE Brent futures reaching a record 2.9 million in OI and ICE WTI (Cushing) futures and options reaching 1.7 million on May 8, 2025, with ICE Murban futures hitting record OI of 85,365 on May 29, 2025. OI across ICE's total futures and options contracts reached a record high of 104.6 million contracts on May 23, 2025, up 8% y/y, including a record 41.8 million commodities futures and a record 40 million energy futures. About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading 'Key Information Documents (KIDS).' Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 6, 2025.
Yahoo
2 days ago
- Business
- Yahoo
ICE Launches its first Futures Contracts Based on Battery Materials
Most Liquid Energy Derivatives Markets in the World Expands into Critical Minerals LONDON, June 02, 2025--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced the launch of its first futures contracts based on battery materials, expanding its energy and environmental markets – which represent the most liquid markets to trade these products - into critical minerals. ICE has launched four cash-settled battery materials contracts covering lithium hydroxide, lithium carbonate, cobalt and spodumene futures based on Fastmarkets' price assessments. "Our customers are managing their way through heightened geopolitical risk, the evolving trade flow environment around critical minerals as well as the wider energy market," said Jeff Barbuto, Global Head of Oil Markets at ICE. "These contracts are important new additions to our energy derivatives offering and we're looking forward to working with the battery materials industry to find ways to add value to this space and build liquidity alongside our broader energy trading and clearing platform." "The battery raw materials industry relies on Fastmarkets' trusted benchmarks as enablers for trade and investment," said Przemek Koralewski, Global Head of Market Development at Fastmarkets. "Partnering with ICE further supports this growing market with the risk management tools it needs." The new battery materials contracts join ICE's network of over 800 crude and refined oil products all underpinned by Brent, the price barometer for three quarters of the world's internationally traded crude oil, and ICE Low Sulphur Gasoil the global benchmark for refined oil products at the center of middle distillates trading. Gasoil futures and options reached record open interest (OI) of 1.43 million contracts on May 29, 2025, up 29% year-over (y/y). Gasoil Options hit a single day volume record of 22,650 contracts on May 20, 2025, surpassing the previous record set in May 2016. ICE's global oil benchmarks hit successive OI records during May 2025 with ICE Brent futures reaching a record 2.9 million in OI and ICE WTI (Cushing) futures and options reaching 1.7 million on May 8, 2025, with ICE Murban futures hitting record OI of 85,365 on May 29, 2025. OI across ICE's total futures and options contracts reached a record high of 104.6 million contracts on May 23, 2025, up 8% y/y, including a record 41.8 million commodities futures and a record 40 million energy futures. About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)." Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 6, 2025. Category: EXCHANGESICE-CORPSource: Intercontinental Exchange View source version on Contacts ICE Media: Jess +44 7377 947136ICE Investor: Katia (678) 981-3882 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Cobalt Blue to supply cobalt hydroxide to Glencore's Kwinana Refinery in Australia
Cobalt Blue Holdings has signed a contract to supply up to 50% of the feedstock requirements for Glencore International's Kwinana Cobalt Refinery (KCR). The refinery will be situated on Iwatani Australia's property in the Kwinana-Rockingham industrial precinct, offering logistical advantages due to its proximity to Fremantle port. The feedstock agreement, which spans three years, will commence with the start-up of KCR's commercial operations. The contract stipulates a minimum supply of 3,750 tonnes (t) of cobalt hydroxide over its term, with pricing linked to Fastmarkets' indices. Payments will be made in US dollars, and the terms of performance and termination rights align with standard industry practices. The feedstock for KCR will come from Glencore's operations in the Democratic Republic of Congo, the world's largest cobalt supplier. Despite Cobalt Blue's preference for Australian cobalt hydroxide, market dynamics have led to the exploration of international sources to meet the refinery's needs. Cobalt Blue CEO Andrew Tong said: 'We are thrilled to formalise a relationship with Glencore. Locking in at least 50% of KCR's feedstock requirements is a significant step in derisking the project that brings us closer to FID [final investment decision]. 'Developing a commercial partnership with one of the world's largest diversified miners helps solidify COB's [Cobalt Blue Holdings] position as a participant in the global cobalt industry. This relationship will also enable COB to play a strategically important role in building new battery and critical minerals supply chains among like-minded countries.' The KCR project, developed in partnership with Iwatani Australia, aims to be Australia's first cobalt sulphate refinery, contributing to the country's Critical Minerals Strategy. It is designed to produce battery-grade cobalt sulphate for the precursor cathode active material industry and cobalt metal for industrial and defence applications. Cobalt Blue and Iwatani Australia signed a pre-FID consortium deed to advance the project towards an FID by 31 December 2025. Cobalt Blue's Broken Hill Technology Centre has been piloting the KCR flowsheet since early 2024. The company has engaged Tetra Tech for engineering works and Green Values for permit applications in Western Australia. "Cobalt Blue to supply cobalt hydroxide to Glencore's Kwinana Refinery in Australia" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
