Although we've been waiting patiently for the introduction it might be wise to let the very thinly traded market season a bit before stepping in and sweeping offers.
Via Mining.com, May 3:
Commodities exchange operator CME Group launched on Monday a futures contract for lithium, seeking to capitalize on growing demand for the key ingredient in the batteries that power electric vehicles (EVs) and high tech devices.
Five tonnes were traded at the Lithium Hydroxide CIF CJK on the first session at $14.25 per kg. The price is settled against Fastmarkets’ assessment for lithium hydroxide, which traded at $12.50-$13.50 per kg on April 29. That was 6% higher than the f $11.50-$13 per kg it traded a week earlier.
Fastmarkets’ price reflects the cost, insurance and freight (CIF) spot price in China, Japan and South Korea, where the majority of battery manufacturing capacity is currently concentrated....
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Or maybe wait for the LME's introduction of Li futures on June 14.
