“Our customer support hedge is looking for products to provide products. Our role is to ensure that there is a comprehensive product suit,” Ice Futures said at the FT Global Commodities Summit in Louzhen, Switzerl.
“ICE is planning to start battery raw material this year, Lithium and Cobalt and Splodumen will be the beginning.”
Exchanges around the world are demanding an expected growth in demand for minerals required for electric vehicles and storage batteries.
CME Group Inc. and London Metal Exchange (LME) promises futures in lithium and cobalt while LME organizes the most active nickel agreement in the world.
China’s Guangzo Futures Exchange has seen a strong growth in its lithium carbonate futures since the launch in July 2023, but there are obstacles to participating in foreigners.
Earlier this month, the Singapore -based EBXX C MOD Modits Exchange launched a Lithium Carbonate Agreement and in January it began trading in nickel sulphate.
Last year, the UK-based Global Commodities Holdings Limited said it was working with the ICE to create cash-setled derivatives contracts that could settle and be centrally cleaned.
LME is owned by Hong Kong Exchanges and Clearing Limited.
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