The London Metal Exchange‘s (“LME”) cash-settled futures course is primarily designed for those with exposure to steel, cobalt and lithium prices. That said, this week’s session was attended by several with exposures to aluminium and copper, which are typically managed using the LME’s physically settled futures.

Was it a waste of their time? Absolutely not. This three-hour session is a useful primer for anybody new to managing metal price risk. It delivers an understanding of risk terminology and gives examples of how futures can manage price risk.

So, whether you have a steel exposure or are simply new to metal hedging, this is well worth attending. The next course is scheduled for 23 September. Click here to book your place.

Today’s London Metal Exchange (“LME”) / Euromoney Learning  webinar took a look at forward prices and the forward curve and was very well received.

“Best-ever explanation of contango and backwardation!”

“The best and most accessible explanation of forward curves I have ever found.” 

It helps enormously to hear that we are hitting the mark with content and delivery.  If you missed it, links to all the webinars in this series are here.

2019 has started strongly for the LME introductory training courses. This week’s course was well attended with over 27 participants representing 21 companies from 9 countries joining us over the three days.  Almost half attended the full three days, with the others choosing the individual days that suited their needs best or returning to tackle futures and/or options after completing the introductory day previously.

“Very informative, learned a lot”, ABN AMRO

 “Trainer has great knowledge about subject, excellent!”, Vale

“Extremely knowledgeable trainer and able to succinctly answer every question.  Also very engaging making it amongst the best exchange courses” ICBC Standard Bank

Check out Upcoming Courses for a full schedule for 2019 and links to secure your place.  The next London course is 3-5 April 2019 and dates are available for New York and Dubai later in the year.

2019 dates for Euromoney’s three-day Commodity Derivatives course are available for booking.

The popular five-day London School of Commodities has been condensed into a concise, jam-packed three days for those who cannot spare an entire week away from the office.  The course retains the broad commodity sector coverage while also allowing time for workshops and a visit to watch an open outcry trading session at the London Metal Exchange, which makes the classroom theory come alive.  The shortened course was well received in November:

Click here to view the full course agenda and to book your place.

LME Week is always busy, but this surpassed expectations.  Demand for the LME introductory training courses was so large that parallel sessions were run for both the Introduction and the Futures days.  All of the London courses have sold out this year.

As usual, attendees came from all parts of the supply chain, from miners to recyclers, and trade financiers to Category 1 members.  Each brought their own experiences to the wider group, and we particularly enjoyed hearing what happens behind the scenes on the first Wednesday of the month when LME options are being declared.

“Course provides a good overview of the basics, LME market terminology and the two main types of hedging instruments.”
GF Financial Markets

“Very professional way of training.  Contents presented in a very understandable way, giving a lot of examples.”
Aurubis

“Dynamic class.  Good group mix”
IXM

The final course of the year will be in New York (11-13 December).  2019 dates are being finalised and will be available for booking shortly.  Check out Upcoming Courses for a full schedule and links to secure your place.

Just as “Havana”  by Camila Cabello was topping the charts around the world, a select group of Cuban bankers took part in the “Understanding Commodity Derivatives” course organised by the Banco Central de Cuba with the assistance of the UK Foreign and Commonwealth Office in Havana.  The course was the second in a series of courses facilitated by GBRW Learning, and the first to be simultaneously translated into Spanish, with course materials provided in both languages.
The intensely practical focus of the course was appreciated as many participants’ prior experience had been largely theoretical.  The sessions concentrated on the commodities most relevant to Cuba, and illustrated techniques for managing price risk, stabilising the value of cargoes used as collateral, and dealing with the inevitable delays and physical format variations.  Those who completed the course should also be well equipped to adapt these techniques to other asset classes.

A minor confusion between honey (miel) and iron ore (hierro) made us laugh.  We all know what we would prefer to have on toast in the morning.

The new London Metal Exchange/Euromoney courses got underway this week.  Very strong attendances from all aspects of the metals value chain made for lively discussions throughout.  Delegates travelled from eight countries in Europe and the Americas and most stayed for all three courses.  Feedback has been tremendous.

“Excellent course for anyone who is new to the trading world.” Brady

 “This was a great course and helped to further my continuing education on hedging on the LME with futures.  The introductory and futures days were both fantastic. It is clear the trainer is very knowledgeable.” Ocean Partners

 “Very good for people who have very few knowledge about LME and hedging process.” Saint-Gobain

“Very interesting training.  It made things much more clear for me coming from a trading company.  The trainer is fantastic – available, explains clearly, super patient.” Levmet

Check out the training calendar for more dates.