Lithium Futures Approved: China Tightens Grip on Battery Metal Market

China's securities regulator has approved the registration of lithium hydroxide futures and options, a move that will allow traders to buy and sell contracts tied to the price of the key battery material. Lithium hydroxide is a refined chemical used to make batteries for electric vehicles. Futures are agreements to trade a commodity at a set price on a future date; options give buyers the right, but not the obligation, to make such a trade. The approval clears the way for the contracts to be listed, though no launch date has been announced.