The world’s biggest base-metals bourse will require members to disclose all over-the-counter positions of their clients on a weekly basis starting on July 18.

Li-Cycle is among a handful of companies looking to cash in on demand for the recovered materials, with companies including Tesla Inc. expressing concerns over supplies of nickel and lithium.

The European Raw Materials Fund is due to start with around $2 billion.

Scott Keogh, chief executive of Volkswagen Group of America, said the move to EVs is the single biggest "industrial transformation in America."

Automakers pressed by consumer demand and rising material costs are charging more for electric vehicles across the board.