10th Jun 2019 18:00
LONDON (Alliance News) - Euromoney Institutional Investor PLC said Monday one of its units has partnered with the London Metals Exchange to develop a benchmark lithium price.
Fastmarkets will work with the LME to develop a pricing mechanism for lithium that can be usedt hroughout the supply chain to develop risk-management tools for the industry. Fastmarkets has been a commodity markets pricing source for over 30 years.
"This is an exciting partnership that further reinforces Fastmarkets' relationship with the LME," Fastmarkets Chief Executive Officer Raju Daswani said.
"Lithium is a critical material to the rapidly growing battery market, which will drive the future expansion of the electric vehicle industry - and we are proud to have become the first price reporting agency to have achieved Type 1 IOSCO assurance for its lithium prices", Daswani added.
Shares in Euromoney closed 0.2% lower at 1,292.00 pence on Monday.
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