LME announces lithium committee to aid development of futures contract
Published: Tuesday, 29 October 2019
The London Metal Exchange announced this week that industry members will form a committee to represent the views and interests of lithium stakeholders while the exchange plans the launch of a lithium futures contract.
The committee is made up of
representatives of major lithium producers and
consumers: Jaguar Land Rover, Albemarle Corp, Lithium
Corp, Pilbara Minerals, Transamine Trading, BASF, Tianqi
Lithium Australia, and Tesla.
The LME is planning to launch a lithium
futures contract in response to demand for price transparency
Lithium demand is seeing long-term support
from the electric vehicle industry, which is increasing the
need for battery raw materials.
On June 10, the LME
announced that it had selected Fastmarkets as its partner for
developing a globally accepted lithium price to underpin a
"As the lithium market grows, there is
considerable demand for trusted and transparent prices and a
liquid derivatives market," the LME said.