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By Siyi Liu and Mai Nguyen
HONG KONG, May 16 (Reuters) - China's Qianhai Mercantile Exchange (QME) plans to launch lithium carbonate, nickel sulphate and cobalt contracts, with one of the three contracts potentially being launched this year, its general manager Dong Feng said on Tuesday. QME is also looking into launching a low-carbon aluminium physical contract, the first of its kind in top metals consumer China, Dong said at the LME Asia Metals Seminar in Hong Kong. The plan comes as global economies are shifting towards greener and less polluting sources of energy, including electric vehicles batteries that are made of lithium, nickel and cobalt.
"Battery metals have become a main target for investment and merger," Dong said. He added that there was demand for a green aluminium contract because of rising scrutiny over companies' low carbon emission targets and aluminium users' willingness to pay a premium for green products. Aluminium is one of the most polluting nonferrous metals to make, as its current production is mostly powered by coal. Green aluminium usually refers to metals powered by solar, wind, or hydropower energy sources.
The QME, owned by Hong Kong Exchanges and Clearing (HKEX) , is a physical commodities trading platform.(Reporting by Siyi Liu and Mai Nguyen in Hong Kong; Editing by Jacqueline Wong)
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