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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.
Latest battery-grade spot lithium prices
Market & price developments
- China’s battery-grade lithium hydroxide price fell by 3.7% on lower reported prices.
- The domestic Chinese lithium carbonate price stabilized week on week.
- There were limited transactions in the Asian seaborne market and in Europe.
Lithium carbonate charts
Lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price cif China, Japan & Korea, $/kg (midpoint)
Lithium carbonate 99.5% Li2CO3 min, battery grade, spot price exw domestic China, yuan/tonne (midpoint)
Lithium hydroxide charts
Lithium hydroxide monohydrate 56.5% LiOH.H2O min, battery grade, spot price cif China, Japan & Korea $/kg (midpoint)
Lithium hydroxide monohydrate 56.5% LiOH.H2O, battery grade, spot price exw domestic China, yuan/tonne (midpoint)
Charging up to deliver the lithium benchmark
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.
Why were we chosen?
- Our prices are already being used in physical lithium supply deals
- Our vast experience and expertise in establishing globally accepted reference prices and indices
- Our existing presence in the electric vehicle space – the LME and Fastmarkets already partner on a cash-settled LME Cobalt contract and Fastmarkets publishes a number of other relevant indices
- Our global presence and considerable reach, infrastructure and relationships in Asia, lithium’s largest end-user market
- Our robust, transparent, IOSCO-compliant and fully auditable lithium pricing methodologies
- Our 30-year track record in price observation and generation
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.