LONDON, July 17, 2023: True to its pioneering spirit, Freight Investor Services (FIS) successfully brokered the trade of the first ever Lithium Carbonate Futures Contract (Contract Code: LTC), which took place on the Chicago Mercantile Exchange (CME). This inaugural trade highlights FIS’ commitment to providing clients with innovative hedging tools and expanding opportunities in the market. Lina Liu, Head of FIS China commented, “this is an exciting time in the battery metals space as we begin to see more hedging tools made available and more arbitrage opportunities between different markets and products.”
Today, CME has launched the Lithium Carbonate futures contract, offering new avenues for risk management in battery metals. Two trades were made totalling four tonnes on lithium carbonate Mar and Apr 24 contracts with counterparties including Vast Industrial Company Limited and Wooray Commodities Pte Limited. San Shui Industrial is a comprehensive trading enterprise specializing in domestic and international trade of non-ferrous metals and metal raw materials. Amanda Xiong, Chairman of Vast Industrial Co Ltd, noted, “This deal is significant for the lithium industry. Undoubtedly, lithium is one of the most important raw materials for our future clean energy transition. We are pleased to play a small part in helping this market develop and will continue to serve both upstream and downstream customers in the lithium industry.”
FIS remains committed to delivering cutting-edge solutions to meet the needs of its global client base. This ground-breaking trade underscores FIS’ position as an industry pioneer and its dedication to driving innovation across markets. The significance of this milestone was summed up by Jack Nathan our Head of Battery Metals, “I have been encouraged to see the feedback from our clients on this new Lithium Carbonate contract. Providing liquidity to even more specific hedges and speculative trades is what makes us the market’s number one choice for energy transition trading.”
About Freight Investor Services (FIS): FIS is a global broker specializing in freight and commodity derivatives. With an extensive range of services and deep industry expertise, FIS provides innovative solutions to clients worldwide. FIS is committed to staying at the forefront of the industry and facilitating trades in diverse markets.
