Metalshub, in partnership with the London Metal Exchange (LME), has initiated the publication of its monthly report detailing low-carbon nickel transactions, responding to industry demands for a nickel pricing mechanism that aligns with stringent environmental and governance standards.
In its inaugural report released on Tuesday, Metalshub disclosed that transactions involving 2,126 tonnes of “class 1 nickel,” valued at approximately US$38.2 million, were conducted on its platform throughout the month of March. “Class 1 nickel” signifies a purity level of 99.8 percent and above.
However, the report highlighted that no transactions meeting the LME’s defined threshold of a carbon footprint lower than 20 tonnes of carbon dioxide equivalent were recorded for the previous month.
While the LME had set the carbon emissions threshold for “low-carbon nickel,” denoting sustainability considerations, no such transactions were reported as meeting this criterion in March.
Despite the absence of qualifying transactions, the LME had previously stated its decision not to introduce a distinct “green” nickel contract due to the current market size limitations. Instead, the exchange indicated that Metalshub was actively developing an index price to assess market dynamics related to low-carbon nickel transactions.