In line with growing demand for electric vehicles, SGX looking to launch energy metals derivative contracts on raw materials needed in making batteries, such as cobalt metal, cobalt hydroxide, lithium carbonate and lithium hydroxide.
SGX will be partnering with Fastmarkets, the price reporting agency for these derivative contracts, and expects to launch these new contracts by July this year, subject to regulatory approval.
SGX hopes to provide via, the trading of these contracts, a pricing benchmark and tool for market participants to manage price risk exposures on energy metals required to build the batteries.
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