Pricing

LME Insight is launching a new pricing initiative to bring greater transparency to the value of aluminium, copper, zinc and nickel produced to an enhanced sustainability threshold. We will publish indicative pricing for sustainability premia – capturing a broad spectrum of attributes, from carbon intensity to human rights performance.

This represents an important step towards embedding sustainability into mainstream metals pricing.

Register here to get the latest updates and data releases as this pricing layer develops.

Pricing methodology

In October 2025, the London Metal Exchange issued a discussion paper on the proposed pricing methodologies for sustainable metal premia, which outlined how the premia will be assessed and published by LME Insight. The results of the discussion paper and final methodology were issued on 5 February 2026.

Pricing will primarily be based on arm’s length transactions on spot trading platforms and bilateral transaction reporting, with bids, offers or administrator assessments used if trades are insufficient. All data will be reviewed for consistency and integrity, then normalised for commercial factors such as delivery location and contractual terms. 

The final methodology for LME Insight and the feedback summary can be found in the Resources section at the end of this page, together with the original discussion paper and the LME’s sustainable premia roadmap.

Enhanced Sustainability Thresholds

Sustainable Aluminium

• Carbon footprint: 8 tonnes CO₂-equivalent/tonne aluminium or below (per the International Aluminium Institute methodology^[1]
• Third-party sustainability assurance: Aluminium Stewardship Initiative Performance Standard

^[1]See: Aluminium Carbon Footprint Methodology - International Aluminium Institute

Sustainable Copper

• Carbon footprint: 4 tonnes CO₂-equivalent/tonne copper or below (per the International Copper Association’s methodology – Carbon Footprint of Copper
  Production: Best Practice Guidance for Greenhouse Gas Measurements^[1])
• Third-party sustainability assurance: The Copper Mark^[2]

^[1]See: International Copper Association carbon footprint methodology.

^[2]See: Copper, Nickel and Zinc Marks.

Sustainable Nickel

• Carbon footprint: 20 tonnes CO₂-equivalent/tonne nickel or below (per the Nickel Institute methodology) – as offered on the existing LME/Metalshub low-carbon nickel market^[1]
• Future third-party sustainability assurance: The Nickel Mark^[2]

^[1]The LME notes the Nickel Institute position paper in respect of the comparability of nickel carbon footprint. Because the LME’s proposed approach would apply only to class I nickel, the LME believes that the issues in respect of the differences between nickel products are not problematic in this particular context. While the LME accepts that different producers may produce from various mineralogies, it believes that the Nickel Institute’s work on carbon measurement does allow these mineralogies to be assessed on an equal footing – and the LME’s 20 tonne carbon threshold has been deliberately chosen to avoid exclusion of any particular country or producer based on its particular ore availabilities.

^[2]Future plan (once industry is ready to embed into the existing LME/Metalshub low-carbon nickel offering): given the relatively recent launch of The Nickel Mark, alongside certified brands, the LME is proposing to accept nickel producing sites that are in good standing ie they have signed a Letter of Commitment to the Copper Mark Assurance Process to participate in the process to obtain The Nickel Mark, asserting that they will complete the independent assessment within one year. The Letter of Commitment is Step 1 of the Copper Mark Assurance Process and is a public demonstration of a site’s efforts to work towards full The Nickel Mark award. This is a temporary measure to both support liquidity in the early stages of nickel premium discovery, and to help incentivise adoption in the industry, and will be reassessed in due course with the aim of raising the threshold to sites that have obtained The Nickel Mark only. Please note, all participating nickel brands will still need to be LME-listed brands, ie have met the LME’s responsible sourcing requirements.

Sustainable Zinc

• Carbon footprint: At or below the average current carbon environmental footprint for special high-grade (“SHG”) zinc (3.5 tonnes CO₂-equivalent/tonne zinc), estimated and regularly updated by the International Zinc Association^[1] using the Zinc Carbon Footprint Guidance^[2])
• Third-party sustainability assurance: The Zinc Mark^[3]

^[1]The current average was published in 2023 by IZA; updates may result in subsequent annual changes.

^[2]See: International Zinc Association Guidance on calculating the carbon footprint for SHG zinc, following ISO 14040, ISO 14044, and Product Life Cycle Accounting and Reporting Standards by Greenhouse Gas Protocol.

^[3]Given the relatively recent launch of The Zinc Mark, alongside certified brands, the LME is proposing to accept zinc producing sites that are in good standing, i.e., they have signed a Letter of Commitment to the Copper Mark Assurance Process to participate in the process to obtain The Zinc Mark, asserting that they will complete the independent assessment within one year. The Letter of Commitment is Step 1 of the Copper Mark Assurance Process and is a public demonstration of a site’s efforts to work towards full The Zinc Mark award. This is a temporary measure to both support liquidity in the early stages of zinc premium discovery, and to help incentivise adoption in the industry, and will be reassessed in due course with the aim of raising the threshold to sites that have obtained The Zinc Mark only. Please note, all participating zinc brands will still need to be LME-listed brands, i.e., have met the LME’s responsible sourcing requirements.

Related resources