Nansha lists world's 1st lithium carbonate futures

Following the listing and trading of industrial silicon futures in December 2022, Guangzhou Futures Exchange, registered in Nansha, welcomed its second futures on July 21 - lithium carbonate futures.

This marks the global debut of the physical delivery of lithium futures.

By the end of the first trading day, the total trading volume of the futures reached 65,400 contracts, with a value of 14.41 billion yuan ($2 billion).

Lithium carbonate is a core raw material in the lithium battery industry. It is widely used in new energy vehicles, energy storage, and other fields, making it a strategic key product.

China's lithium carbonate consumption exceeded 500,000 metric tons in 2022, accounting for 81 percent of the global market. The lithium industry is expected to experience further growth due to the increasing demand in the new energy vehicle and energy storage sectors.

Amidst this backdrop, the price of lithium carbonate has shown significant fluctuations in recent years, highlighting the importance of risk management for businesses.

Industry professionals point out that the launch of lithium carbonate futures and options will provide companies with effective risk management tools, contribute to the development of an open and transparent market price, as well as ensure the stability and security of the lithium battery supply chain.

Haijia Automobile Terminal of Guangzhou Port. [Photo/WeChat account: nanshafabu]