The last week – since China unveiled its hypocritical plan to ban petrol cars – has seen record inflows into Lithium-related funds.
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Trading volumes have exploded higher and prices for LIT (the Lithium and Battery Tech ETF) are back to near 6 year highs.
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Never one to miss out on an opportunity, LME is reportedly looking to introduce a contract for lithium (via Mining-Journal.com)…
While details were scarce on the ground, SP Angel expects that the contract would be tied to lithium carbonate concentrate, a major traded raw material for lithium processors and battery producers, and also possibly a contract for lithium hydroxide, a value added product preferred by some downstream consumers.
Both would likely have strict quality controls which might add to costs, SP Angel said.
When contacted by Mining Journal for comment on the possible contracts, a spokesperson for the LME said it had been approached by industry users regarding the introduction of an LME lithium contract and it was looking into this.
This post was published at Zero Hedge on Sep 15, 2017.
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