Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Metals

LME introduces lithium committee to assist with market price solution

Agriculture | Grains | Electric Power | Nuclear | Oil | Crude Oil | Refined Products | Metals | Non-Ferrous | Shipping | Marine Fuels

Market Movers Europe, Nov 11-15: All eyes on the IEA's global energy outlook; conference week for shipping, grains and oil

Platts Oil and Gas Production Monitors

Commodities | Metals | Non-Ferrous | Aerospace & Defense | Autos & Capital Goods | Materials | Building & Construction | Transportation

Aluminum Symposium 2020

Metals | Non-Ferrous

World Gold Council survey highlights opportunities for gold

LME introduces lithium committee to assist with market price solution

London — The London Metal Exchange on Tuesday said it has set up a lithium committee made up of key market participants ahead of the potential launch of a lithium contract.

The LME is looking to launch a futures contract it argues will bring price transparency to the lithium market. So far, there has been significant pushback from the industry as it views lithium as a chemical, not a commodity.

The topic was aired regularly during the annual LME Week gathering in London this week.

One fund manager said that regardless of whether the material is a commodity or a chemical, the market still needs a transparent pricing mechanism.

The LME agreed, saying in a statement Tuesday, "as the lithium market grows, there is considerable demand for trusted and transparent prices and a liquid derivatives market."

Over the past two years, the LME has been engaging with the lithium market as it prepared for the launch of a lithium futures contract, "which will support the growing demand for price risk management solutions for battery metals."

The committee will represent the interests and views of stakeholders of the lithium industry, the LME said. Members include Tesla, BASF and Jaguar Land Rover.

For much of 2019, the lithium price has been plunging because of a perceived supply glut. However, opinion is divided on whether that stockpile is battery grade or a lesser quality material.

S&P Global Platts assessed lithium carbonate $400/mt lower week on week at $9,500/mt Friday, while lithium hydroxide fell $200/mt to $11,500/mt.

Producer Ablemarle, another LME lithium committee member, said in a statement it expects lithium prices to keep falling in 2020.

-- Ben Kilbey, ben.kilbey@spglobal.com

-- Edited by Keiron Greenhalgh, keiron.greenhalgh@spglobal.com