Benchmark Minerals and ICE team up for battery material futures
Prices of battery materials lithium and cobalt assessed by consultancy Benchmark Minerals Intelligence (BMI) will be used for contracts launched by Intercontinental Exchange (ICE) in June, BMI told Reuters. For BMI, a price reporting agency (PRA), this is an important step in having its prices used to settle derivative contracts traded on exchanges, an area dominated by information firms Fastmarkets and S&P Global Commodity Insights. An agreement between BMI and ICE signed earlier this year covers prices of lithium carbonate, lithium hydroxide, spodumene concentrate and cobalt hydroxide, BMI said.