In October the London Metal Exchange announced the launch of new responsible sourcing requirements for all brands listed on the exchange. This is a potentially market changing development that will directly affect LME producers and influence action throughout the wider global metals market.
By 2022 producers are expected to have fully engaged with the new LME requirements with full adoption compulsory by 2023.
This leaves impacted companies with a two-year window to ensure their approach to, and reporting on, responsible sourcing is LME compliant.
For producers and intermediaries outside the LME, this window is also potentially critical as the wider metals market is expected to follow the LME’s direction of travel on responsible sourcing.