10 Jun 2019 17:38
10 June 2019
EUROMONEY INSTITUTIONAL INVESTOR PLC
Fastmarkets partners with the London Metal Exchange to develop lithium price benchmark
Euromoney Institutional Investor PLC ("Euromoney"), the global B2B information business, providing price discovery, essential market intelligence and events, announces that Fastmarkets 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 - a leading source of pricing information for the global commodity markets - has been bringing transparency to the lithium industry via independent and reflective prices. Fastmarkets is committed to developing market-reflective pricing in a rapidly evolving industry in conjunction with supply chain participants. Fastmarkets already provides the global benchmark for the cobalt market - another important battery raw material.
Fastmarkets Chief Executive Raju Daswani said:
"This is an exciting partnership that further reinforces Fastmarkets' relationship with the LME. Lithium is a critical material to the rapidly growing battery market, which will drive the future expansion of the electric vehicle industry - and we are proud to have become the first price reporting agency to have achieved Type 1 IOSCO assurance for its lithium prices."
A spokesperson for the London Metal Exchange said:
"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."
Ends
For further information, please contact:
Euromoney Institutional Investor PLC Wendy Pallot, Chief Financial Officer wendy.pallot@euromoneyplc.com Sarah Cooke, Investor Relations sarah.cooke@euromoneyplc.com
| +44 (0)20 7779 8845
+44 (0) 20 7779 7363 |
FTI Consulting Charles Palmer / Jamie Ricketts / Amy Hurnell / Jamille Smith euromoney@fticonsulting.com | +44 (0)20 3727 1000 |
About Euromoney Institutional Investor PLC
Euromoney is a global information business providing essential B2B information to global and specialist markets. Euromoney provides price discovery, market intelligence and events across our segments. Euromoney is listed on the London Stock Exchange and is a member of the FTSE 250 share index.
www.euromoneyplc.com
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 more than 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.