Listed for trading!, "White Petroleum" Lithium Carbonate | Futures | Petroleum
Approved by the China Securities Regulatory Commission for registration, lithium carbonate futures were listed on the Guangzhou Futures Exchange this morning. Lithium carbonate options will be listed on the 24th. Lithium carbonate, known as "white petroleum", is a national strategic key product widely used in new energy vehicles, energy storage, glass, ceramics, pharmaceuticals and other fields.
It is understood that there are a total of 7 contracts for lithium carbonate futures listed today, with a trading unit of 1 ton per hand. In 2022, the global production of lithium carbonate was 606000 tons, of which China produced 379000 tons, accounting for 63%, mainly distributed in provinces such as Jiangxi, Sichuan, and Qinghai. The foreign production is 227000 tons, accounting for 37%, mainly distributed in Chile, Argentina and other places in South America.
Guo Chenguang, Senior Executive Manager of the Commodity Business Unit of Guangzhou Futures Exchange, stated that China is the world's largest consumer of lithium carbonate. In 2022, the scale of lithium carbonate consumption in China exceeded 200 billion yuan, with fluctuations exceeding 50% in the past three years. After the listing of lithium carbonate futures, it provides a hedging method for industrial enterprises to avoid price risks. Open and transparent futures prices help China transform its scale advantage in lithium carbonate production and consumption into a pricing influence on international lithium resources.