LME Highlights Metals as the Cornerstone of Sustainability

SEATTLE (Scrap Monster): The London Metal Exchange (LME) announced that it will continue to take actions to position metals as the cornerstone of sustainability. As part of the effort, it will continue to introduce more recycling-related contracts, said the recently published discussion paper by the exchange.

 It highlighted the extensive use of copper in clean energy generation and storage technologies. The ability to meet the increased demand for metals through sustainable technologies is essential to ensure green future, it added.

The discussion paper has repeated mention to recycling. It provides details on sustainability-related factors that affect sourcing and production of metals including aluminum, copper, nickel, tin, zinc and cobalt. The discussion paper noted that over 90% of metals are recycled from buildings and transport in the European countries.

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The LME announced its intention to expand ferrous scrap contract offerings. It now plans to add Taiwan and India scrap contracts, in a bid to boost international trade of secondary commodities and position the exchange at the centre of the global scrap trade. Also, the proposed U.S.-focused UBC aluminum scrap contract may trigger launch of other recycled aluminum formats in future.