Commodities are all around us – from the agricultural items that feed and clothe us, to the metals and petroleum products that house and transport us, as well as the chemicals that form our industrial processes.
Volatility in commodity prices can alter the destinies of individuals, companies and countries, and our modern life simply could not exist without the complex integration of global supply chains.
This course is for those who wish to better understand commodity trading and risk management, as well as the logistical and financial flows that underpin.
• Main commodity groups
• Physical vs. Futures/derivatives trading
• Price discovery
• Principal commercial terms
• INCO terms and shipping documents
• Types of transport: short-sea, deep-sea, road, rail
• Dry Bulk Index and other freight indices
• Storage and inspection
• Title documents
• Payment terms: letters of credit, open terms, telegraphic transfer (T/T)
• Insurance: cargo, marine, credit
• Risk: credit, performance, and FX
• Overview of commodity futures markets
• Futures, swap, options
• Hedging basics
• Spreads and forward prices
• Collection, refining, and smelting margins
• Trading vs. distribution
• Supply & demand basics
• Oil “super contangos” and other strategies
• What role will blockchain and other technologies play in the digitization of supply chains?
• How do we make supply chains more sustainable?
• What do the various green initiatives mean for commodities?
• What does the future have in store for the commodities industry?
Joe began his commodities trading career in 2007 and has worked in various senior commercial positions between Trafigura, Nyrstar, and Ameropa AG. He has also held various elected industry roles including as a member of the London Metals Exchange (LME) Ferrous Management and the European Sulphuric Acid (ESA) Management Committees.