Last week’s London Metal Exchange / Euromoney Learning introductory courses were nominally “in” New York, but in reality, the trainer was in Ireland, and participants were in India, Bulgaria, the UK, Peru, Chile and Mexico.  While the experience is different to being in-classroom, it appears to be suiting some attendees very well.

Last week’s London Metal Exchange / Euromoney course proved the concept: training can be delivered effectively over virtual platforms.  COVID-19 forced a new normal on us. We have risen to the challenge and adapted.  The courses featured interactive learning and exercises in small group sessions to foster the group dynamic.  The overall feel was close to an in-person in-classroom experience, and most importantly, it was a significant improvement on a passive webinar.

This week’s sixth webinar in the series of LME–Euromoney seminars delved into more detailed uses of LME carry trades, looking at hedging less liquid prompt dates and locking in the shape of the forward curve.  At this difficult time, it was heartening to see so many participating in the live webinar, and engaging with the audience polls and Q&A.  It is proof that the world adapts and carries on.

The new venue for the LME introductory training courses this week proved popular.  Located right beside Moorgate station and just a short walk from the LME, attendees appreciated the convenience particularly when it came to leaving for flights at the end of the course.

The course covers the inner workings of the LME and essential knowledge for using LME futures and options.  Each course develops its own particular flavour as participants are encouraged to share their own experiences.  Gaining a better understanding of LME terminology was a goal for many attendees, and several were hear reciting “Yesterday’s Cash is today’s Tom” after the section on rolling prompt dates.

The next courses will be Dubai (10-12 March), London (28-30 April) and New York (9-11 June).  Check out Upcoming Courses for a full schedule and links to secure your place.

This week’s fifth webinar in the series of LME–Euromoney seminars discussed LME carry trades.  The difference between borrowing and lending, and the impact of the forward curve on the profit and loss of carry trades were explained.  An example of applying carries to adjust the dates on a risk position was worked through in detail.

The webinar content and the “Test Yourself” questions were the most challenging in the series so far.  Just 22% correctly answered the first question.  However, there was an impressive improvement to 71% correctly answering the second question after working through the first exercise.  Why not listen to the recording to see how you fare?  All webinars can be accessed here.

The next webinar is scheduled for 31^st March and will discuss more applications of LME carries.

Last week’s attendees on Euromoney’s Commodity Derivatives course were fortunate to watch an exciting closing trading session for nickel, kindly facilitated by the London Metal Exchange.

The course will run in London and Singapore during 2020:
London: 11-13 May 2020 and 17-19 November 2020
Singapore: 22-24 September 2020

Click here for more information and to register.

LME Week is always busy, but this year saw record numbers attending the LME introductory training courses.

The courses upgrade knowledge and offer an excellent networking opportunity where topics not on the course agenda can be explored with other market participants.  To give a flavour of the spread of attendees, in just one corner we had Nicole, Nikita and Nikola, representing Australia, Estonia and Bulgaria, and working for a packaging company, a physical trader and an LME member.

“Excellent course and would recommend to anybody wanting to get an understanding of the LME”, Environmental Impact Group

“Emma is very professional and her way of explaining helped me understand all the concepts. She was available all the time, she encouraged us to ask questions and to have open discussions”. Lexar Commodities

“The trainer worked 1 on 1 with those students that needed additional help.” Nordmet Invest

This week’s fourth webinar in the series of LME–Euromoney seminars discussed LME price references, clarifying the differences between Official and Closing Prices.  We had excellent questions coming through the live Q&A, and many are listening to the recording as and when it suits.  Indeed, the first webinar – The Fundamentals of Hedging on the LME – continues to attract new listeners.

The next webinar is scheduled for 21^st January and will discuss LME carries.  You can access all webinars here.

Last week’s LME courses in London typified the range of participants in the metals markets.  We had several miners, plus attendees from across the value chain, right up to a buyer for the foil that wraps chocolates.  The materials are also designed to take absolute beginners through to good understanding of the LME, and there are always topics to challenge the more experienced participants. 

Check out Upcoming Courses for a full schedule of courses and links to secure your place.  The next London course is during LME week (29-31 October).  This tends to fill up quickly so do make sure you book early.  The year wraps up with a final course in New York (10-12 December).

So much for third time lucky!  Our third webinar in the series of LME–Euromoney seminars hit a bit of a road-bump.  The technology platform had a technical glitch just as we went live, and threw participants and my co-presenters out of the system.  Luckily the webinar recorded successfully and is available to listen to on this link.  See if you can spot the stutters when my co-presenter and I were elbowing one another out of the way to control the slides and the audience polls from the same laptop.

The next webinar is scheduled for 9th October and will discuss LME price references.  Click here to register.  We’ll be keeping our fingers crossed that the platform behaves.