Commodities exchange operator CME Group launched on Monday a futures contract for lithium, seeking to capitalize on growing demand for the key ingredient in the batteries that power electric vehicles (EVs) and high tech devices. Five tonnes were traded at the Lithium Hydroxide CIF CJK on the first session at $14.25 per kg. The price is settled against Fastmarkets’ assessment for lithium hydroxide, which traded at $12.50-$13.50 per kg on April 29. That was 6% higher than the f $11.50-$13 per kg it traded a week earlier. Fastmarkets’ price reflects the cost, insurance and freight (CIF) spot price in China, Japan and ... (full story)