Today, Freight Investor Services (FIS) announced the completion of the first Spodumene CIF China (Fastmarkets) futures trade, consisting of 17 lots of the Dec 24 contract on the CME.

Spodumene is a crucial source of lithium, a key material used in the production of lithium-ion batteries. As demand for electric vehicles (EVs) and renewable energy storage continues to rise, the need for effective risk management tools like futures contracts in battery metals markets becomes increasingly important. Since the price of spodumene directly impacts the cost of lithium-ion battery production, providing markets with the means to hedge against price volatility is essential for stabilising costs.

This landmark trade marks another significant achievement for the FIS Battery Metals desk, who also facilitated the first Cobalt Hydroxide future, Cobalt option, and Lithium Carbonate future transactions.

John B, CEO and Founder of FIS, said: “we are so happy to continue to be the first in the expanding battery metals markets. It took me a while to spell this, but Spodumene is a crucial product for the battery metals space and part of the derivative battery pack which continues to grow”.

“We are thrilled to execute the very first trade on the CME Spodumene Futures Contract. This trade, which features the third lithium contract on the CME platform, adds to Wogen’s increasing presence in lithium hydroxide and carbonate market which highlights the evolving landscape of sustainable energy and the essential role of spodumene in the lithium supply chain.” Kenta Brown, Lithium Trader at Wogen. The parties involved in this landmark trade are Wooray Commodities Pte. Ltd and Ja Commodities (Zhejiang) Ltd.

For further information on battery metals trading, please contact the FIS Battery Metals desk.

Contacts:

Europe – Luke Vint: lukev@freightinvestor.com
Asia – Lina Liu: linaL@freightinvestor.com
Asia – Bryan He: bryanh@freightinvestor.com