Digital trading platform Metalshub to launch live, visible trading in lithium

By Eric Onstad

LONDON, Oct 19 (Reuters) - Digital platform Metalshub is launching Open Trading, a new trading mode that allows posting and watching live bids, offers and orders, starting with battery metal lithium in November, it said on Monday.

The privately held platform, which was founded in 2016, offers trading in over 40 products including nickel, alumina, ferroalloys, graphite and industrial minerals. So far it has offered anonymous term-sheet trading, private and public tenders and structured auctions.

The new service will cover battery-grade lithium carbonate, technical-grade lithium carbonate and spodumene concentrate.

Lithium business on Metalshub has grown in recent years with producers hosting auctions, including the world's largest producer Albemarle ALB.N and Australia's Liontown Resources LTR.AX.

Trading in lithium has also grown sharply on China's Guangzhou Futures Exchange and its prices have become a global benchmark.

"Outside the futures market, buyers and sellers of physical lithium have had no neutral, shared place to post firm bids and offers," Germany-based Metalshub said in a statement.

On Open Trading, anyone will be able to post bids and offers, but trades will only take place between companies that have already approved each other as counterparties, it added.

"Prices from companies that haven’t been approved stay visible for reference but can’t be traded."