Sustainability and Physical Markets

The Sustainability and Physical Markets (SPM) department brings together our world-leading warehousing, brand and sustainability activities.

Our close connectivity to the physical industry is central to the LME and its strategy. It has been a core focus of some of our most recent innovations including the establishment of responsible sourcing requirements, the launch of our sustainability strategy for the metals industry and the introduction of LMEpassport.

The SPM department is responsible for the strategy, delivery, and operation of the LME’s physical market and sustainability activity. This includes the strategic development of all areas of the LME’s physical ecosystem including:

• future commercialisation
• sustainability
• and management of physical market relationships.

The SPM department works closely with producers of LME-listed brands, and administers the operation of the LME’s physical network including:

• LME warehousing
• operation of the LME approved brands list
• LME responsible sourcing
• and LMEpassport.

The SPM department also drives the delivery of the sustainable metals premia for aluminium, copper, nickel and zinc, supporting the development of the sustainable metals market. These price premiums will be built upon verified transactions and premium sustainability thresholds to capture the marginal market values of the four metals produced to verified sustainability standards. The consultation period is now open to the public until 28 November 2025.