Electric Vehicle Battery Materials

As set out in the LME Strategic Pathway in September 2017 we are actively exploring new risk-management tools for electric vehicle battery (EV) materials.

We are working closely with key market participants along the value chain to identify and serve the industry’s evolving risk management requirements. Some key battery metals such as nickel, copper, cobalt and aluminium are already well established on the LME. Our aim is to launch new futures contracts covering one, some or all of these EV materials: lithium, cobalt, nickel sulphate, graphite and manganese.

With over 140 years at the heart of global metals markets, the LME is uniquely placed to provide effective risk-management solutions for the whole EV value chain, from miners through to the end users. As an independent infrastructure provider servicing the global industry the LME is able to help identify, shape and consolidate the divergent and often competing views of the EV market.

We have also put together an official EV Metals Advisory Group with key industry participants to help shape the future of the market, and we invite interested parties to get in touch.

LME lithium contracts - selection of a Price Reporting Agency 

As always, the LME is working closely with the industry to design effective products to best meet market requirements.

For our proposed lithium contract, we are seeking feedback on the three shortlisted Price Reporting Agencies (PRAs) who presented at our EV Metals Advisory Group meeting recently. The PRAs are Argus, Benchmark Minerals, and Fastmarkets.

You can watch each of the presentations and download the accompanying slides, and we welcome your comments. There are some broad areas for which we’re seeking feedback, as well as any additional detail you’d like to provide:

  • Are you already using index-linked pricing from any of the three PRAs?
  • After reading/watching the presentations, which PRA do you feel is best suited to provide benchmark pricing for future LME lithium contracts, and why?
  • Which types of lithium do you feel currently have the greatest need for a futures contract? For example, lithium carbonate, lithium hydroxide etc?
  • And which region do you feel is most relevant for the product type(s) you have identified above? For example, FOB China, CIF China, Ex works China etc?
  • Are there any other comments or detail you would like to provide relating to this selection process?

Please send your comments to our EV Metals team.

LME EV Metals Advisory group - LME Introduction

Oscar Wehtje and Antonio Masiero of the LME's Product Development open the EV Metals Advisory Group with an overview of the LME's plans for EV metals.

LME Lithium Index - Fastmarkets MB

Presentation by Jon Mulcahy, Charlotte Radford, Martim Facada, Raju Daswani and Praks Kunapalan of  Fastmarkets/Metal Bulletin 

LME Lithium Index - Argus Media

Presentation by Matthew Burkley, Matthew Thompson, David Brooks and Alison Tran of Argus Media

LME Lithium Index - Benchmark Mineral Intelligence

Presentation by Simon Moores and Andrew Miller of Benchmark Mineral Intelligence

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