Physically settled contracts are aluminium, aluminium alloy, North American Special Aluminium Alloy Contract, cobalt, copper, lead, nickel, tin, and zinc.

“In cases where brands do not comply with the Policy, or refuse to do so, they will be delisted,” the LME said in a statement.

“Brands that have a large amount of work remaining to do to be by the Policy will be suspended until such work is complete. The timing of the actions will vary depending on the point at which the producer of a brand notifies the LME of its decision not to comply, or when the LME determines the producer of a brand’s efforts are not up to the standard likely to be required,” it said.

In October 2019, the LME published its responsible sourcing policy for LME-Listed Brands, mandating all of its listed brands to comply with a set of requirements on responsible sourcing of metals.

The exchange said the purpose of the policy is to ensure brand supply chains on the LME are not detrimental to human rights or contribute to financing of conflict or corruption.