Fastmarkets partners with the London Metal Exchange to develop lithium price benchmark
Published: Monday, 08 July 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 – was 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 used 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
"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 because industry participants require credible
pricing to facilitate trading," Fastmarkets’ chief
executive Raju Daswani said.
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.