China's first exchange-traded lithium contract to launch on July 5 China's Wuxi Stainless Steel Exchange said on Friday trading in its new lithium contract - the country's first bourse-based offering for the key ingredient in electric-vehicle (EV) batteries - would begin on July 5. See More DetailsNew Delhi: China's first exchange-traded lithium contract, for delivery in October 2021, jumped 8% on its debut on the Wuxi Stainless Steel Exchange on Monday, an official from the bourse said.The closing price for battery-grade lithium carbonate was 95 yuan ($14.71) per kg, or 95,000 yuan a tonne, on the first day of trade, up from an opening price of 88 yuan/kg, said Li Jincheng, senior product director at the exchange.The launch of Wuxi's contract for lithium, a key ingredient in electric-vehicle batteries, comes as resurgent demand leads major commodity exchanges in the United States and Britain to roll out their own lithium offerings.The volume traded on the first day in Wuxi exceeded 70 tonnes of lithium carbonate, Li added, declining to name any of the companies that participated in the trades; Wuxi lithium can be traded on a spot or forward basis.

Source: Economic Times July 05, 2021 01:41 UTC