The London Metal Exchange has released a position paper outlining specific requirements for its responsible sourcing initiative, with the exchange's tin contract emerging as a key focal point across its base metals products, it said in a note to members on Friday October 5.
The paper is a direct result of the exchange's responsible sourcing survey, undertaken in November 2017 and conducted by all producers of its listed brands. The results of the survey highlighted a need for practical action against key physical requirements, the note said.The LME's proposed categorization of its responsible sourcing initiative will incorporate adequate guidance in line with key industry principles by the Organization for Economic Cooperation and Development (OECD). Supply chain participants will...