Wuxi Stainless Steel Exchange to launch cobalt sulfate contract in September

The Wuxi Stainless Steel Exchange plans to launch electronic trading contracts for cobalt sulfate in September, to align with the development of the electric vehicle (EV) sector in China, a spokeswoman for the exchange told Fastmarkets on Wednesday August 12.

Cobalt sulfate is a key chemical used in the production of nickel-cobalt-manganese (NCM) lithium-ion batteries that are used in EVs, and China is the largest producer of the battery raw material.
"We have done a great job in running the cobalt metal electronic trading contracts," the company's spokeswoman said, adding that the cobalt sulfate contracts will further serve the EV battery supply chain.

The exchange has...

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