Banter and General Comments, page-7729

I don't know how they'll ever, if at all, get accurate chemical pricing.
The impurities make a huge difference in quality of battery grade chemicals and therefore the contract price.
And to complicate matters even more:
even thiny bits of impurities of certain elements reduce the quality by huge margin. While other impurities not so much, even if in much higher impurity levels.
Thus making a huge difference between 2 chemicals that have the same generalized specs.
And that difference between quality will grow exponentially as battery manufacturers try to increase range and lifecycle of battery.
That's why lithium majors are not so keen/flatly reject LME attempt of spot market pricing mechanism.

We'll have to wait and see what comes out of it.