Last week saw a series of exciting firsts for the London Bullion Market Association (“LBMA”) training courses.

The next loco London courses will take place on 17 & 18 November, and a date for responsible sourcing will be finalised shortly.  Follow this link to secure your place.

Last week saw the return of Euromoney Learning’s Commodity Derivatives course after a two-year hiatus.  The marked increase in commodity price volatility due to Covid, supply chain disruptions and the Ukraine-Russia situation makes this a timely topic to revisit.

The course has been redesigned to combine the best aspects of classroom and virtual delivery.  Last week, half the attendees were in classroom and the remainder joined remotely.  The hybrid delivery had the advantage of one attendee being able to continue to attend the course virtually when too unwell to be there in person.

This week’s London Metal Exchange / Euromoney Learning courses were attended by a range of participants from all parts of the supply chain and with varying degrees of existing knowledge of the LME.  The courses assume no prior knowledge and seek to build confidence in those new to the market, as well as challenging and extending the range of the more experienced participants.

There certainly was no shortage of questions throughout.  One advantage of virtual delivery is that a shy, less confident attendee can pass questions directly to the trainer via a private chat, so their queries do not get drowned out by the more dominant participants.

The next courses will take place during LME Week (25-27 October) and will see a welcome return to the classroom.  Virtual courses are scheduled to coincide with the business day in Europe, the US, Asia and the Middle East.  Check out Upcoming Courses to find a date and time zone that works for you.

Thank goodness for virtual delivery.  Last week’s London Metal Exchange’s “Introduction to Cash-settled Futures” was able to go ahead despite the trainer testing positive for Covid.  This 3-hour course is specifically designed for those keen to learn more about the cash-settled contracts offered by the LME, but it also an excellent brief introduction for anyone interested in learning how to apply futures contracts to manage metal price risk.

 

The LBMA’s introductory courses on the loco London market are designed as two independent modules, which can be taken consecutively or independently. Last week’s courses saw over half of the attendees on the first module continue straight to the second module. The remaining attendees on the “How to use loco London” course had all previously attended the “Introduction to loco London”. It was wonderful to see so many returning for more training. It is a clear indication that the courses are fulfilling a need.

It is absolutely not a prerequisite to complete the first module in order to join the second. So, what suits you best? A two-day deep dive, or one day followed by a refresher and more advanced material a few months later?

Follow this link to secure your place.

Last week’s London Bullion Market Association (“LBMA”) training course did not turn into the Great British Bake Off, but one participant said that explanations on the course made understanding the loco London market and applying derivatives “as easy as following a muffin recipe”.

If you would like to improve your skills, “An Introduction to Loco London” and “How to Use Loco London” are next scheduled to run on 9^th and 10^th June 2022 respectively.  Follow this link to secure your place.

Attendees on last week’s London Metal Exchange / Euromoney Learning courses took full advantage of the interactive nature of these sessions to ask all sorts of questions about the LME.  Any time there was a pause, there was always someone there with a question. At the end of the course, one of the quieter participants note how much more they had learned from the extra explanations.  If you have any questions about the LME and it’s products, why not attend a course and get the answers.

On the London Metal Exchange (“LME”) courses you never know who will be on the course with you.  This week’s “Introduction to LME Cash-settled futures” had excellent representation across geographies (Africa, Europe and the US), across metals (steel, lithium and base metals) and across industry sectors (recyclers, refiners, traders and construction).  A surprise attendee was a US based artist who uses metals in their sculptures.  Discussions around the main topics were full of helpful insights particularly from the price reporting agencies.  All too quickly, time was up and the trainer had to call time when it looked like several side deals might be concluded there and then.

And we look forward to seeing the artwork inspired by the day.

Whatever your motivation, why not set aside time in your diary to join the next session on 17th June 2022?

This week’s London Metal Exchange (“LME”) / Euromoney Learning  webinar took a look at cash-settled futures which use price reporting agencies to determine the final cash settlement amount.  It included an in-depth look at the front-month contract and explains why the front-month quote can differ from spot prices in the physical market.

If you missed it, links to all the webinars in this series are here.  To learn more about these contacts, why not join the half-day course on 9th February 2022.