Access worldwide exchange and OTC markets
We're active in base and precious metals, iron ore and steel, offering multiple access points, help, experience and solutions for whatever price risk you face, or liquidity you require. We are a category-one member of the London Metal Exchange and a full member of the London Bullion Market Association.
We execute and clear a significant proportion of the market activity on the London Metal Exchange (LME), the world's largest non-ferrous metals exchange. We also provide direct access to the CME’s base metal futures and options contracts, on its COMEX exchange. We provide base metals services for producers, consumers, fabricators and traders, brokers, financial institutions, hedge funds and investors in the commodity futures and options markets.
We provide futures and options brokerage for industrial users of gold, silver, platinum and palladium, as well as for market makers, brokers, funds and traders, covering all hedging and speculative requirements. We also provide access to OTC forwards, swaps, options and spot contracts through our range of specialist FX services.
Steel and Iron Ore
We provide execution and clearing for cash-settled and physically delivered futures, options and swaps in the steel and iron ore markets, for both exchange and OTC traded contracts.
Metal prices have rallied so far in 2021, in line with improving economic data and risk appetite, largely due to improving vaccination rates across the globe. Europe was slow to roll out vaccines, and as a result, has seen lower economic growth and weaker metals demand. However, the disconnect between supply and demand is set to continue in the near term as supply struggles to keep up. The global chip shortage is having an impact on the auto market, and there is no quick fix to this problem. Physical traders in China are reluctant to pay the high prices, but the fund community remain heavily involved. We expect metal prices to remain supported in Q2, but we are seeing early signs that supply is responding, but this will be more of a factor in H2 2021.
Monthly commentary covering the FX markets, providing insights on recent developments on select currency pairs. Precious metals are the focus of this month's FX Monthly report. The report includes a macroeconomic overview as well as desk comments and technical analysis on key currency pairs.