Fastmarkets partners with the London Metal Exchange to develop lithium price benchmark
Published: Monday, 10 June 2019
Fastmarkets and the London Metal Exchange will collaborate on a price benchmark for lithium and related risk-management tools.
Fastmarkets - a leading source of pricing information for the
global commodity markets - announces that it has been selected
by the London Metal Exchange (LME) as its partner to develop
the lithium price benchmark.
This global strategic partnership will develop a definitive
roadmap aimed at providing a pricing mechanism for lithium that
can be utilized throughout the supply chain and will support
the development of risk-management tools for the industry. For
more than 30 years, Fastmarkets has been bringing transparency
to the lithium industry via independent and reflective prices.
"Fastmarkets recognizes the importance of lithium to the
rapidly growing battery market, which will drive the future
expansion of the electric vehicle industry. Our lithium prices
have gained significant traction in physical market
negotiations as industry participants require credible pricing
to facilitate trading," Fastmarkets chief executive Raju
Fastmarkets is committed to developing market-reflective
pricing in a rapidly evolving industry in conjunction with
supply chain participants.
It is the first price reporting agency to have achieved Type 1
IOSCO assurance for its lithium prices.
"The LME, on the basis of market views, selected Fastmarkets as
its pricing partner due to their lithium prices being widely
used across the industry combined with their leading pricing
capabilities," the London Metal Exchange said.
"We are excited to now work with the LME as partners to further
develop our prices to provide essential risk-management tools
for this market," Daswani added.
Fastmarkets already provides the global benchmark for the
cobalt market - another important battery raw material.
For further enquiries, please contact Katharine Kellar at firstname.lastname@example.org.