Metals desk · Base and refined
Refined metal, concentrate to cathode.
Copper, aluminium, zinc, lead and nickel in both concentrate and refined form, moved between smelters, fabricators and exchange warehouses.
- Annual volume
- 1.4M tonnes
- Exchanges
- LME · COMEX · SHFE
- Warehouse points
- 9
Overview
The metals book
The metals desk trades refined metal against LME-registered brands and warrants, alongside a concentrates book that places mine output with smelters on annual and spot treatment-charge terms.
Positions are hedged on exchange, so buyers can price against a chosen quotational period rather than carrying flat-price exposure they did not ask for.
Warehousing is arranged at LME-approved facilities, with warrant handling and metal release managed in-house.
Products
What we trade, and to what specification.
| Product | Specification | Notes |
|---|---|---|
| Copper cathode | Grade A, LME registered brand | Delivered to fabricators and exchange warehouses |
| Copper concentrate | 22 – 28% Cu | Placed with smelters on TC/RC terms |
| Aluminium ingot | P1020A, 99.7% minimum | Term supply into extrusion and rolling |
| Zinc and lead | SHG zinc 99.995%, lead 99.97% | Refined metal and concentrate |
| Nickel | Class I briquette and cathode | Into stainless and battery supply chains |
Trade routes
Origin to destination.
Origin
Chile and Peru
Destination
China, Japan, Korea
Concentrate in containers and breakbulk
Origin
Gulf smelters
Destination
Southeast Asia, Europe
Refined aluminium on term offtake
Origin
Southern Africa
Destination
Europe, India
Refined copper and cobalt-bearing material
Execution
How the cargo actually moves.
- LME-approved warehousing and warrant handling
- Exchange hedging against agreed quotational periods
- Container and breakbulk consolidation for concentrates
- Assay exchange and umpire procedure on concentrate lots