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Fastmarkets and the London Metal Exchange are collaborating on the development of a lithium benchmark - a move that is unprecedented to date in the commodities markets. Our demonstration that we can keep pace with a rapidly evolving battery raw materials industry and its pricing demands has resulted in the LME selecting us as its partner to continue providing transparency to the lithium industry.
Fastmarkets has been selected by the London Metal Exchange as its partner of choice to develop the lithium benchmark.
Building on more than 30 years of experience in pricing the lithium market, we are looking forward to working with the LME and the physical market to develop a definitive roadmap. Out first aim is to provide a pricing mechanism that can be utilized throughout the supply chain and our second aim is to help to develop risk management tools for the industry.
The physical market is increasingly monitoring spot-based pricing trends for guidance in the formulation of contracts. Although the vast majority of battery-grade lithium products are still traded on a long-term basis, the regularity with which market participant’s update their contract pricing mechanisms has increased over the past two years.
We are constantly looking at ways to improve our pricing mechanisms to reflect the changing demands of physical markets. Constant engagement with all aspects of the supply chain make this possible. We will continue to evolve our lithium pricing mechanisms in line with the standards set by the lithium industry and will continue to work with the market to provide credible and transparent pricing tools.