LONDON, June 10, 2019 /PRNewswire/ -- Fastmarkets - a
leading source of pricing information for the global commodity
markets - announces that it has been selected by the London Metal
Exchange (LME) as its partner to develop the lithium price
benchmark.
This global strategic partnership will develop a definitive
roadmap aimed at providing a pricing mechanism for lithium that can
be utilized throughout the supply chain and will support the
development of risk-management tools for the industry. For more
than 30 years, Fastmarkets has been bringing transparency to the
lithium industry via independent and reflective prices.
"Fastmarkets recognizes the importance of lithium to the rapidly
growing battery market, which will drive the future expansion of
the electric vehicle industry. Our lithium prices have gained
significant traction in physical market negotiations as industry
participants require credible pricing to facilitate trading,"
Fastmarkets chief executive Raju
Daswani said.
Fastmarkets is committed to developing market-reflective pricing
in a rapidly evolving industry in conjunction with supply chain
participants.
It is the first price reporting agency to have achieved Type 1
IOSCO assurance for its lithium prices.
"The LME, on the basis of market views, selected Fastmarkets as
its pricing partner due to their lithium prices being widely used
across the industry combined with their leading pricing
capabilities," the London Metal Exchange said.
"We are excited to now work with the LME as partners to further
develop our prices to provide essential risk-management tools for
this market," Daswani added.
Fastmarkets already provides the global benchmark for the cobalt
market - another important battery raw material.
ABOUT FASTMARKETS
Fastmarkets is the leading price reporting, analytics and events
organization for the global metals, mining and forest products
markets. Fastmarkets' core activity in pricing drives transactions
in commodities markets around the world and is complemented by
news, industry data, analysis, conferences and insight services.
Fastmarkets includes brands such as Fastmarkets MB, Fastmarkets AMM
(previously known as Metal Bulletin and American Metal Market
respectively), Fastmarkets RISI and Fastmarkets FOEX. Its team of
over 400 people are located in 14 global offices including
London, Boston, New
York, Shanghai,
Beijing, Singapore, Brussels and São Paulo. Fastmarkets is part of
Euromoney Institutional Investor PLC (LSE:ERM), a listed company on
the London Stock Exchange. Euromoney is a leading international
business-to-business information group focused primarily on the
global commodities, banking and asset management markets.
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SOURCE Fastmarkets