Tullett Prebon launches battery metals trading desk

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 63%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

Explore stories from Atlantic Canada.

Carbon tax protest at Nova Scotia-New Brunswick border | SaltWire #newbrunswick #novascotia #rallyLONDON - Tullett Prebon on Tuesday launched a new desk and team to trade CME cobalt, lithium and molybdenum, all materials crucial for batteries used in electric vehicles and energy storage, the London-based commodities broker said.

The new team will be led by London-based Jack Nathan, previously at FIS. Nathan will be supported by Po Wei in Singapore, who joins from JP Morgan, Tullett Prebon said in a release.Cobalt volumes on the CME have been growing quickly over the last two years, while those for lithium have picked up in recent months. CME molybdenum was launched in March last year.

"With demand for electric vehicles fluctuating, and the production of battery metals rising rapidly, clients have a growing need to manage price risk and exposure," the broker said. "Less well known, Molybdenum is an emerging battery metal that is predicted to play a key role in increasing batteries’ electrical power, energy storage capacity, recharging speed, and stability."

Tullett currently trades base metals such as copper, aluminium and zinc listed on the London Metal Exchange, gold, silver, platinum, palladium and rhodium.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 45. in COİN

Coin Coin Latest News, Coin Coin Headlines