- HOW IS LME (London Metal Exchange) HELPFUL IN TRADING MECHANISM?
- Amritanshu Khaitan Interview | Global LME Zinc Prices Slide to $2,483/Tonne | CNBC TV18
- Commodity Markets Live: Metals In Focus; Zinc Prices Rally 6% Overnight
- Weekly Technical Analysis of LME Nickel & Zinc – Eddie Tofpik’s Crayons for 22 November 2022
- Zinc Prices At 8-Month Highs On Falling LME Inventories
- Hedging, reference prices and physical delivery at the London Metal Exchange (LME)
- LME Responsible Sourcing: Track A compliance for copper, lead, nickel and zinc brands
HOW IS LME (London Metal Exchange) HELPFUL IN TRADING MECHANISM?
I’m Shrishty Agarwal, I’m a research analyst with Nirmal Bang,I would be talking about LME and how LME is helpful in trading mechanism.,so let me start what is LME, LME stands for London Metal Exchange.,LME is the world centre for Industrial metal trading it is the benchmark for base metal pricing around the world.,IT trades 24 hours a day producers and consumers around the world hedge their position at LME to manage the market price risk,or market price volatility so this is one of the most important exchange in the world.,How it is related to MCX as we all know India has gone into global trade in the last decade so global prices,,global factors it plays an important role in Indian commodity market and the prices which are on LME are the clear reflection of base metal prices on MCX,so what are the prices so we get the prices in our currency. But, they are clear reflection of LME prices be it be the all base metals,,there are two important data of LME which we get on every day basis one is LME inventory and second is LME cancel warrant,these two data normally come at 1:30 p.m. India timing. So I’ll tell what these two data stand for first LME Inventory.,LME inventory data reflects the closing stock of the commodity on the previous day.,So these data come from all the commodity copper, nickel, lead, zinc and aluminium.,If there is increase in LME inventory data it reflect that the metal is in higher supply so we can see dip in the metal for Intraday,and if see LME Inventory coming down at a lower level we see that there is demand in the market,and we believe the prices can move in the Intraday basis and on the larger horizon outlook,this gives us monthly inventory outlook that how much inventory is there in the LME warehouse so every day we track,and when we comply the data and we get easily know what is the monthly LME inventory data.,Second most important data LME cancel warrants LME cancelled warrants represents metal earmarked for delivery this means,that investor normally take out the metal from the warehouse as there is higher demand in the physical market.,so when there is an Increase in LME warrants data so this is like that where is higher physical demand in the market,and We see prices going up and where as when there is lower cancel warrants and there is no new demand in the market,so we see that prices going dip in the Intraday basis.,So this is basically helpful in Intraday also and we comply this data on a monthly or annual outlook,,thank you I hope this videos useful to you.
Amritanshu Khaitan Interview | Global LME Zinc Prices Slide to $2,483/Tonne | CNBC TV18
please subscribe and dont forget to,press the bell icon to get notified,whenever we upload a new video hi,welcome back to the show well lets,focus on another accompany now our,globally zinc prices have fallen further,in the month of September reports,suggests that zinc prices have slipped,to under $2,500 a ton this comes as a,big boost for companies like Eveready,which users think is a crucial draw,material,Im Ratan Shukla thon the MD of ever nd,India joins us now to talk about that,Im gonna turn to good morning the last,time when we spoke with using prices,globally were at about twenty-seven,twenty-eight hundred dollars a ton I,understand now that they fall into sub,2500 but you tell us what are the zinc,prices now and how much of an impact,will it have on your own profitability,and margins good morning Sonia zinc has,been hovering anywhere between twenty to,fifty dollars and twenty-five hundred,twenty-five fifty dollars last one week,the global market turmoil with the,dollar strengthening is putting pressure,on the metal market we think that the,zinc prices will remain under pressure,and it should remain sub 2500 going,forward in the remaining part of the,year this is a very big positive for the,battery industry as a whole fifteen,percent of the revenue is a fifteen,percent is the zinc cost in the cost of,sales so that would boost margins in the,second half of of the current year but,part of that would get offset with the,depreciating rupee the rupee impact is,also being questioned with the yuan,devaluation so compared to the past,where companies in India especially,where there was imports would be,completely negatively impacted because,of rupee devaluation but because the,Chinese currency is also devalued,devaluating at a faster rate or at least,at an equal rate you are seeing a net,net neutral impact on the rupee,devaluation till now okay but no,therefore are you saying that the,proverbial Chinese competition is not,much now,no what Im highlighting is that the raw,materials which the company uses not,only for batteries but even for a,lighting business if it is coming,through imports the rupee devaluation,does not impact margins that,significantly anymore,because I got that I got that I got that,Im regarding Chinese young ports yeah,yeah yeah regarding Chinese imports they,still remain to be pretty high for the,battery industry because of that we,expect the volumes in the first half of,the year to be flat but Bureau of Indian,Standards is becoming mandatory in the,next 15 days we believe that this will,have a very big impact on imports coming,in from China because once bis becomes,mandatory the poor quality Chinese,batteries will find it very difficult to,enter the country so I expect a big,boost in terms of volumes which should,come in in the second half or in the,first half of next year okay so when you,say big boost in terms of volumes what,are you looking at in on an overall,revenue growth and margin performance I,mean if zinc prices continue to be this,low do you think your margins could be a,10% plus by the end of FY 19 and what,are you looking at in terms of revenue,growth on the battery business we should,clock a bit imagine are higher than,about 15 percent for the folio but we,have investments going in into,appliances which is negative so for a,company as a whole we are looking at a,beta,growing by about 40 percent 35 to 40%,for the folio and regarding top-line,growth we are looking at a 10 to 12,percent kind of top-line growth okay,okay can you give us a little more color,or shed more light on your lighting and,LED segments,the lighting business is pretty stable,we have seen that the revenue growth a,per se would be a bit lower because of,the price correction taking place in the,bulk segment but margins are still,pretty healthy for the company because,we have now entered into the higher,value lumen a segment in the last six,months this is adding to margins being,stable okay so we are looking at a 10%,kind of 9 to 10% kind of a beta margin,for lighting for the full year with a,growth of about 15 to 20 percent on the,top line,okay Im gonna thank you all the best,thanks so much for joining us so so,thats actually a big fall in the raw,material costs forever ready it will,boost their margins quite a bit and,theyre expecting in fact 15% margins in,the battery business alone by the end of,the year we take a short break on that,note but the latest commodity trades,coming up for with monisha which are,commodities editor on the other,[Music],Garret is celebrating 25 years of,analytical excellence,[Music],in,[Music],Grubin era he had company on steel,Tata Steel we also make tomorrow fashion,keeper tank battalions live gold plans,Kay experienced investment management,Asato so our bus life gold plan guru but,Italians life.com pal logon curuvija,hamari insurance consultancy baat karu,or parking some search engine / -,Agarwal Packers and movers limited Mary,stay in a case another lie whoa Asli,Nagina,yard rajagaha sherons Agarwal Packers,and movers limited naughty naughty,naughty boy,[Music],jinda cuckoo Agnes our endoscopy do slow,kosub sep11 Azeroth is the budget impact,know that no Tampa only beautiful balls,[Applause],[Music],welcome back as promised to Manish,Agatha is here to line up with the early,commodity trends good morning Manish,again morning thank you so much for that,well we have seen the crude oil prices,steady yet again actually if you look at,this week this month this quarter we are,ending on a higher side when it comes to,the crude oil prices third weekly gain,and fifth quarterly gain is what the,crude oil prices really are looking at,on the charts well you have seen a,short-term supply squeeze coming into,the markets that has been supportive,apart from the OPEC and Russia are,saying that they will not increase,production by too much you also have,seen for the decline in supplies from,Venezuela and the Iran sanctions,concerns of course continue to rule the,market and that is where you have seen,the support coming in from slightly off,the highs but we still are holding,around those four year highs in the,global markets for the brand prices and,yet another 3/10 percent of gains for,the mcx prices is how we have open trade,here well the strength in u.s. dollar of,course is putting pressure on many of,those metal prices so you have gold,prices trading at a 6-week lows in the,international markets thats exactly,what the Indian trice is are me reading,here but it is the base metal prices,strength which seems to be giving some,impetus for the silver investors to come,in and buy onto that one in any case we,have been holding around that 37,000,mark for the silver prices in India for,the last couple of months or so so that,seems to be steadying on the charts here,at least the base metal prices have a,lot of factors to look at one of course,it is the US dollar the second quarter,GDP numbers in the US coming in at the,fastest pace and four years of course,has been supportive apart from that,there also is China saying or,reiterating that they are not looking to,put numbers on how much output cut,should be given by provinces as the,winter approaches to curb pollution so,thats yet another thing thats made the,situation slightly fluid and we have,seen some bargain buying coming on the,lower side many of the metals in,Shanghai and illumine our trading nearly,half a percent to 1 percent on the,higher side and thats exactly what we,have seen happen here as well last night,wasnt so good because you saw copper,and aluminum prices declined to a,one-week lows but that clearly seems to,be getting bought into in the Asian,markets right now trading strategies and,we have them from grow value they have a,buy calls couple of a couple of,commodities in case of copper theyre,looking at an upside target of 464 and a,by column crude oil prices continues,with targets of,five thousand three eighty four the,day-to-day okay thanks a lot for that,Manisha when in the
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Commodity Markets Live: Metals In Focus; Zinc Prices Rally 6% Overnight
hi guys welcome to money control im,karun yeah rao with me is manisha gupta,weve,been giving you updates on whats,happening in oil prices so for a change,today we will discuss all about zinc and,why has it rallied six percent overnight,oh well yes you know most of the metal,prices were on the higher side overnight,and that is because the markets are,looking at slightly better data coming,in from europe this time around but bank,of england 50 basis point rate hike from,there really did not do well for metals,but zinc is really standing tall on its,own fundamentals so we are trading at a,five month highs on zinc and people have,been telling us on how zinc fundamentals,are the best of it all it has to do with,the latest statement from glencore which,came in last night which says that they,are shutting another of their smelters,in europe because its not giving them,profit because the energy prices are way,too higher and they also said that the,output in this year could continue to,suffer and this is just one of the,smelters that glencore is talking about,the other smelters as well are doing,less than capacity its not giving,profit and glencores itself output for,the first half of this year has declined,by 15 percent so everywhere that you,look there is bullishness,how does it occur for,indian listed companies whether its a,hinging,other names who also dabble into zinc,apart from core base metals uh,how does it pan out for them so i think,when you look talk about the producers,especially in the stand zinc higher,prices does do them well and their cost,of efficiency is really high the cost of,production for them is also very strong,and when you look at the fundamentals,itself uh when you look at the lme,inventories they are the lowest since,april 2020 weve seen a 64 decline in,inventories in the last seven months and,weve been telling you this that the,zinc inventories are the least are the,lowest across in metals so zinc has been,your favorite metal if you wanted to,start buying here and now with glencore,statement and glencore perhaps is by the,way the biggest largest producer of zinc,in the global markets and when you look,at europe 30 percent of x china world uh,supply of zinc comes in from europe so,when you when you do the maths when you,look at all of these factors zinc does,look quite positive weve seen five,percent of gains last night we are eight,percent up in this week we are 12 up in,the last one month so everywhere that,you look the charts are looking good how,much,of zinc do we produce as a country or,are we net exporters uh sorry importers,so no we produce enough zinc hindustan,zinc does produce a lot of things so,when you look at india when you look at,much of x china asia as well we are one,of the largest producers there so china,actually does nearly 50 of all the,global zinc production and consumption,as well for that matter but the indian,markets the the growth numbers for that,matter the the the output for that,matter also seems to be increasing right,now so apart from zinc the galvanization,industry really seems to be building up,as well of course markets will want to,want to look out for the steel demand,infrastructure demand that is where zinc,will come into picture as well and while,that is at a bit of a pause right now,but even with the kind of demand that,were looking at right now the supplies,are not able to fulfill it so we are,looking at a deficit in this year when,it comes to zinc production globally and,that is going to be supportive so uh,while we were telling our viewers all,this while that metals are a no-go at,this juncture is zinc an exception a,clear exception i wouldnt blindly start,buying it but when i look at the,fundamental zinc does look good to me,and whether its going to be very,sustainable not really that too but uh,you know with the kind of news that we,have especially coming in from glencoe,for the very near term id say its a,definite bye for that so make merry,while the metal shop sure yes okay well,thats uh the update we have for you,today on zinc,prices up quite significantly and five,month highs as manisha has pointed out,for us so all eyes on that thank you for,tuning in well be back again on monday,with a fresh new update on commodities
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Weekly Technical Analysis of LME Nickel & Zinc – Eddie Tofpik’s Crayons for 22 November 2022
thank you,[Music],hello my name is Eddie toffburg Im head,of technical analysis and Senior markets,Analyst at ADM investor service,International Limited and heres your,weekly technical analysis of lme three,month nickel and zinc Ill start with,lme three month nickel,the core pattern has drove this Market,since mid-july has been the July to,November ascending triangle currently,23080 to 25 195.,Ive once again highlighted the pattern,in Blue on my daily chart,whilst this looks like a good pattern it,has for example had the requisite number,of touches on each side that is,necessary it still had some,imperfections but the lower trend line,and the flat overhead trend line had,been breached,the lower trend line especially however,the breaches were repaired and in the,end it was a good pattern,it is noteworthy to mention that the,overhead flat trend line is the August,2011 high and had also been reinforced,by nearby long moving average currently,25 670.,two weeks ago the market broke up,through the flat overhead Trend light,punching and closing over this trend,line and the long moving average,early last week we saw the exploitation,of this move higher the price is pushing,up through and closing over the bay 2011,high at 27330 the April 2011 hire 27 950,and the recent 50 Fibonacci line at,29470.,I had in recent weeks given the,potential size of move higher and last,week labeled some detailed topside,targets,thus we had a primary target in the,30070 area and a secondary harder to,reach Target X in the 32 160 area,the primary target has already been,achieved,but the secondary Target X is still,alive,however it is obviously harder to reach,and last weeks rally failed to reach it,with prices dropping while crashing more,like crashing down with a bearish,opening long black mariboso and bearish,engulfing passing combination last,Wednesday,that eventually saw prices punch down,through the long moving average and the,upper trend line flat trend line on the,ascending triangle though not really,managing the clothes below it,though I suppose one might look at,yesterdays action in that way,hence because of this strong uh move and,subsequently well strong fall and,subsequent decline,a strong rally and subsequent decline,thats held up over the flat trend line,I mind it to leave the secondary Target,at 32 160. I might need to leave it,alone for now,one of a factor to discuss I said last,week and I quote,we had another bullish Factor late two,weeks ago well thats now three weeks,ago it was a bullish bow tie formation,of the short moving average currently,25075 the short medium moving average,currently 23 530 and the medium moving,average currently 22 735,they all crossed over two Fridays ago,thats now three Fridays ago,now bow tie formations have two elements,the first is that the market moves in,direction of the exiting moving averages,from the boats I cross over in this case,it was upward and that proved to be the,case,the second is that between 15 to 20,sessions after a crossover in this case,this would be between the 25th of,November and the 2nd of December,we ought to see the beginning of the,next major move and it is usually in the,direction of the moving averages or,upwards as well,thus would ask you to look out between,those dates especially to gauge what is,happening end of quote,itll be interesting to see just exactly,what the market has in mind in between,the 25th of November and the second of,December,lme three months zinc,there is still an awful lot of stuff,going on here all at the same time,thankfully Ive retired some of the no,longer valid parts so some while ago we,had a breakdown below the March 2020 to,June 2022 ascending expanding wedge,pattern currently 38.65 to way up off,the top of my daily chart,this pattern is highlighted in dark blue,there are some outlandish potential,targets below for such elongated and,wide pattern so to keep an element of,realism in here I would suggest looking,at just the possible primary target,extraction pattern in the 2545 Zone,below,the next pattern is an even longer one,but a pattern that has been impacting,the market directly over the last four,weeks and realistically since late,September,it is the 2015-2020 bullish Andrews,picture highlighted in red on the daily,chart,specifically highlighted is the lower,tine currently at 2810,this pattern has shown the bullish angle,of attack here for years and was being,tested on the downside for the first,time over the last few weeks,the third pattern is a more recent one,and it shows a good indication the,recent bearish angle of attack since,mid-august,it is a late May to mid-august bearish,shift petrol which is highlighted in,purple,the most recent impact has been upon the,middle time currently at 30 57.,so where are we now well weve recently,moved up over the short media moving,average currently at 29.80 and breached,it and the almost flatlining medium,moving average currently 3115 but failed,to close over it last week,in the process the market made a,three-day bearish Evening doji Star,pattern,causing the market late last week and,early this week to drop down through the,middles tine and the short media moving,average and into the two small,congestion zones between 29 58 to 2965,and 2916 to 29.05.,this latter one thats the 29 16 to 2905,is where we are now,hes also not too far from the lower,lower tone of the big old 2015 to 2020,bullish Andrew spiritual currently at 28,10.,which in turn is lodged within a,congestion zone between 28 24 to 2791,and that holds within it the June 2021,lower 2810 July low at 28 24 and a half,and a September low at 27.91,so there is bearish pressure here,strategic from the break below the big,old ascending spanning wedge pattern and,also near a tactical pressure from the,bearish shift Pitchfork which is,shallower and more considered than the,earlier bearish Andrews pitchfall and,what is countering that is this lower,tine of the big old 2015 to 27 20 to,2015 to 2020 bullish Andrews special,until this is broken,or the other ones broken then an uneasy,balance will prevail or at least until,something else turns up,thank you for listening this weekly,broadcast gives the essential Market,patterns of consequences Please be aware,of the risk disclaimer posted with this,broadcast copyright is editor again ADM,investors International Limited here,comes the final bit,[Music]
Zinc Prices At 8-Month Highs On Falling LME Inventories
well for the markets absolutely quiet so,lets get talking about the commodity,space we have Manisha Gupta joining into,a process of what she is tracking in the,metal space as well as a quick word and,crude Venetia thank you for that egg,that will absolutely crude continues to,be the top story as we trade around,four-month eyes on that one there is,voluntary and involuntary supply cuts,and that has been supportive yet another,day when we are looking at quarter to,half a percent of surge in true prices,and the markets do believe that with,supplies going down and demand estimates,getting better we perhaps are quite,quickly headed to that $70 per barrel,mark as well in this quarter itself it,is a metal prices which also have done,quite well until now in 2019 we are,trading at multi month highs for many of,the non-ferrous metals and we are double,double-digit up when it comes to gains,as well this is on the back of deficits,and the kind of data that the markets,are working with right now as well the,Chinese numbers that have come in today,do show you the industrial output at the,slowest in 17 years but as far as the,numbers pertaining to retail sales and,fixed asset income or investment is,concerned that is a better than what the,street really was working with steel is,one thing that has been quite volatile,on one side it is the wall airport,suspension which has been supportive but,the markets also are looking at the iron,ore prices which is at a one-week highs,and the Jan Feb crude steel output also,seems to have gained by 9% the steel,product output is up 10% as well so what,do those numbers really mean for the,price is going forward for that were,going across to Hong mily she joins us,on the phone line from Singapore hung my,high thank you so much for joining us,first of all what do you make of the,Chinese data the last couple of sessions,weve seen a huge inflow of Chinese,numbers how are you relating that to the,ferrous metal prices okay I think about,looking at the overall dynamic,performance fixed asset investment it,improves from the last 12 month,you can China release the January every,data together so that actually is a,reassuring sign saying that the Chinese,government Daphne will be focusing on,you know supporting the economy at a,certain level,whereas if youre looking at the steel,output numbers its a bit concerning,maybe because the first January first,two months of this month of this year,this year up to growing at a flower at a,faster rate but at the same time I think,I need to remind the market is that you,might just have a think about last year,the winter recession were having the,different measures and everything so,that influence there the base numbers,for last year was a bit too low thats,why if youre looking on a year-on-year,comparison it definitely you know a,curing higher but I would say that,whatever the numbers are telling us if,youre looking at the market sentiment,it should be telling us at a still,market 20 minutes rather stable or even,though showing signs of positive because,if youre looking at new prices since,yesterday a last night actually the,prices go reversing up though I believe,like people are pretty happier where,they have seen so far from the Chinese,economic numbers as well with this your,output numbers,sure so whats your sense really with,the Chinese data I mean as you said its,more positive more stable impact as what,we are seeing in steel but the whole US,and China trade conversation what is,your take from that and would you,actually look at the metal prices you,know in the light of their inventories,demand and supply or would you say that,the whole macro picture the sentiment,really seems to be playing a bigger part,okay I will say that you know you is,more fundamental driven so our US China,you know all this kind of a treaty go,stations and talks I think there are,showing very positive signs even though,nothing has been settled yet but bear in,mind that all those kind of a,negotiations will be really very rather,lengthy it wont be able to solve or,whatever major issues that is a that are,obstacles between the two countries,within you know weeks or something so,you know more negotiations will be,coming along so I think the most,important thing is is not getting worse,fine the other yeah,so the other thing is theyre looking at,you know skills youre definitely will,be performing better than our first,metals because you know,metals for example aluminum you know the,aluminum the the matter itself actually,facing oversupply so you know when,youre talking one over now first metals,you have to be looking at particular,products and then we have you know going,to details when you steel steel prices,will perform better than many other,metals what kind of performance that are,we looking for here a percentage-wise a,is there any number that youre working,with and how much gain in steel can we,see from here okay in the near-term HDD,if youre looking in China too many,numbers,billet prices are actually having,hovering at about 3,500 which is rather,sustainable level because taking into,consideration of the production carpets,you mentioned the angle where the rebar,and should be have been hovering above,4,000 RMB which is not rather a very,positive level as well for the time,being yeah okay all right Monisha as,well as tommy lee thanks very much for,joining in and speaking with us well,there are some issues coming out of,outside the court of the same brothers,melvin theyre saying as well as shiv,interesting im not sure which brother,that is but well get our schmidt to,give us an update with regards to what,took place in the court as well i,understand that there is another hearing,which is going to take place on the 28th,of march to explain how to secure that,Daiichi arbitral amount of around 3500,odd crows so thats what the supreme,court has asked for so the next hearing,would be on the 28th of march so that is,some visuals that were getting right,outside the supreme court at this point,in time well get our schmidt in to just,discuss a couple of more in details i,can see that hes probably just working,some phones and may be talking to a,couple of people to add more perspective,on that so we leave you with those,visuals and well slip into a break and,well come back with more,[Music],[Music],you,[Music]
Hedging, reference prices and physical delivery at the London Metal Exchange (LME)
LME的业务范围分为三大类：套购保值，定价和交付。,套购保值是管理金属价格风险的程序。,价格曝光的公司，通过在LME的期货市场挂牌，对冲他们的价格风险。,通过交易期货和期权，公司可以对不利的价格波动进行保护,锁定已经同意的利润差额，并且保护存货价值。,Aurubis是欧洲最大的铜生产商，在7个欧洲国家拥有生产基地，,并且每一天通过LME进行价格风险对冲。,我们每一天都面临着价格风险，我们通过营运进行买卖。,这意味着，我们需要对冲去减少或消除交易中产生的风险。,LS Cable也是一家使用LME对冲服务的公司， 11 00:01:13,4 –> 00:01:20,4 这家韩国电缆制造商每年制造25万吨铜棒用于能源及电脑工业。 12 00:01:22,1 –> 00:01:25,2 我们通常在收到客户的订单时使用长期对冲，,并且通过LME对于对冲风险进行期货交易。,通常，我们购买铜，铝和铅的期货用于稳定我们与客户交易中的成本价格。 ,这不仅仅包括矿产公司，买卖金属期货的商人与顾客。,买卖期货的投资者。他们承担价格曝光，为的是在将来赚取利润。,投资者通常是市场中的主要对手。,他们提供流动性，使贸易用户在他们需要的时候得到他们想要的价格。,LME提供的第二项主要服务就是“定价”。,今天，LME面向全世界提供下列金属的参考价格，包括：铜，铝合金，,锡，铅，锌，原铝，镍，钴，钼，钢铁，以及塑料，聚乙烯和聚丙烯。,作为交易的结果，每天的价格是由交易所“发现”并公布，,全世界的公司在金属和工业金属的买卖中根据这一个基本价格进行谈判。 24 00:02:38,7 –> 00:02:45,9 我们目前专门使用LME的标准作为我们所有交易的价格标准。,这表示所有的买卖都是以LME市场价格为标准。,重要的是，业界可以利用LME的远期价格进行计划和投资，,一些贸易已经预期到10年。,LME的价格很关键，实际上，全世界的公司通过扩展的全球数据网络和情报公司订阅信息，,或者直接通过交易所自己的数据服务，LMElive。,第三个主要的服务是金属的交付。,业界可以利用LME作为最后的市场。,他们可以在供大于求的时候交付多余的存货，并在极度短缺的时候取出原料。,在现实中，实际交付发生的几率只占很小的比例，而大部分机构利用交易所进行对冲和投资目的，,但是对于创造价格汇合，交付的前景是至关重要的。,为支持这一机制，交易所批准许可金属品牌和全世界的仓库。,这其中就包括像C. Steinweg Handelsveem B.V. ,这样，提供储存，装卸，转运，租赁和其它相关物流服务的公司。,我们拥有很多LME的仓库。,您在我周围看到的是镍阴极，铜阴极，您还可以看见铝T型锭和铝块。,我们所拥有的仓库都获得批准在LME进行所有品种有色金属交易。,由LME进行交货和提供给市场的可能性是非常重要的。,有时候，由于一些突发状况，而导致的产品短缺，您可以从LME运货，在位于汉堡的站,在位于汉堡的站点，我们有一处仓库设施，如果出现任何意外，我们可以提供交付。,每一天，LME都会编写一份详细记载仓库中储存金属的等级的报告，,并且这一信息提供了供求的迹象。,关于基础金属的供求，尤其是铜，是非常动荡不定的。如果由于供货紧张，,我们无法根据工厂的需求提供铜，我们必须寻找另一种供货来源。,LME仓库里的存货就是一个很好的选择。,相反，多余的存货可以从我们的工厂运输到LME仓库，,这表示，我们可以在适当的等级上管理我们的存货。,从LME仓库运输出去的原料可能运往不同地区的不同工厂。,铝就可能运往汽车制造工厂或者建筑工地。
LME Responsible Sourcing: Track A compliance for copper, lead, nickel and zinc brands
to record this session and were going,to,dive right in and not going backwards,ideally going forwards,in this session um well be starting,with uh georgina hallett from the lme,whos going to give us,a little bit more information on the,lmes responsible sourcing requirements,and again explain a bit more detail how,that fits with the effort we are,undertaking with the joint due diligence,standard um georgie the floor is all,yours,thank you so much michelle its good,morning for me but uh good afternoon for,many of you,um thank you so much for having us here,today were delighted to join,the webinar um and uh its a great,pleasure to be able to talk to you all,um the lme has been working on,responsible for some uh sorry,responsible sourcing for some time we,started back in 2017,um and delighted that the rules came out,in october 19,and now were doing a lot of work with,organizations such as the copper market,due diligence standard,to make sure that our listed brands,those are brands that,are eligible to be used in settlement of,contracts on the exchange,um doing a lot of work to make sure that,were doing everything possible,uh to make sure that those brands can be,ready for the rules um and for the,reporting that starts in 2022,um so the next slide just covers some of,our drivers for taking action in the,first place,um the ethical one is very interesting,we felt very strongly that,the industry had an ethical,responsibility to start taking action,but i should say that the lme was by no,means on its own in thinking this,and its been a huge pleasure to work,with organizations such as the copper,mark,and all the metals associations that are,co-hosting today,who very much felt the same way and,indeed were putting a lot of pressure,on us in the first place to take action,um along with many of our brands and,other stakeholders,it does feel like the industry,collectively wants to do the right thing,and its been a great pleasure to be,able to work so collaboratively with,with the industry to get to where weve,got to today,the enemy does also have a commercial,imperative we want to make sure that,people taking delivery of metal through,the exchange,can do so knowing that that metal has,been responsibly sourced,and finally our position in the center,of the metals market,between producers and consumers meant,that the lme was well placed,to help define a route forward that was,meaningful that genuinely made change,but was also practical to implement and,recognize the idiosyncrasies of metal,value chains,so those were our drivers for for taking,action,and we worked out very early on that the,right way forward was to build on,existing initiatives in this sector,rather than trying to reinvent the wheel,ourselves,so we felt that the oecds due diligence,guidance,which it comprises five core steps which,i think are on the next slide,that was very well established in the,industry very um,well respected and it was very clear,that that was the right way to go,so these are the five steps here i wont,go through these one by one i suspect,many of you are very familiar with them,already,um certainly i know that all your hosts,on this call have become very familiar,with them,as have we at the lme um i think the key,thing about these steps and what i,really like about them is that they,do allow for variations in the supply,chain so if your risk framework is is,different uh,if you if you run lower risks or higher,risk there are slightly different routes,that recognize that so its not a,one-size-fits-all approach,um so the lme took this and we created,our own framework which weve got on the,next slide,which tried to recognize the key steps,for us,so on the on the left hand side under,the lme categorization of existing,initiatives,this is the sort of structure this is,how we envisage the market so,we took the oecd guidance thats the top,of our pyramid,the next step is for for standards such,as copper market due diligence standard,to translate that guidance into into a,standard,uh which is the process theyre going,through now and then the final step at,the bottom of that pyramid,is for browns to implement that standard,and there are two checkpoints for that,so the first one is is for the standard,to check that it is it has captured all,of the oecd guidance thats the,alignment assessment so on the right,hand side under lme requirements thats,the alignment assessment stage,and then the second stage is for the,check that the brands have correctly,implemented the standard,thats the audit stage on the right hand,side,so the lme has drawn up three routes for,compliance in recognition of the fact,that the oecd allows for,different outcomes based on your risk,assessment,we call those tracks a b and c as you,can see on the right hand side and the,process for complying with those,uh is all slightly different there are,slightly different timelines and,requirements,uh but the key message is that whichever,track you pick you will end up being,compliant with both the oecd five-step,framework,and with the lmes requirements now,obviously the focus of today,is track a um im delighted that the,copper mark due diligence standard,will provide an external standard for,copper lead zinc and nickel brands to,use track a,and ill explain a little bit what i,mean by that on the next slide,which is uh the flowchart of how to,comply,with the lmes requirements so i will,maybe briefly start with tracks b and c,just so you know they exist but,obviously the focus of today is is the,track a1,so the lme has provided a tool called,the red flag assessment and its a,template that you can use to fill in to,work out,uh whether you raise red flags that is,if youre sourcing from,a conflict affected or high area known,as acara,weve provided a route where you,complete that and have it audited,externally,or you complete that and have it sent to,the lme for audit and then publication,so if you,choose track c your red flag assessment,template will become public,those routes are for brands that dont,find that they raise red flags when,theyre doing their step step,1 and 2a which is the risk assessment,and they um,that template is available on the let me,website for anyone whod like to have a,look at it,ill go back to track a now which,obviously the focus of today so track a,is available for brands that do raise,red flags when theyre doing their red,flag assessment in step 2a,its also available for brands that just,want to use a standard to help them,comply so you dont have to have raised,red flags to use that,many people want the assistance and the,tools and the guidance that come with,using a standard,such as the copper marquee diligence,standard and,uh that is what track a is available for,as well,uh you could also use an internal,standard so thats one that your company,has developed,itself you would need to get that,alignment assessed thats a formulaic,process,as prescribed by the oecd they have,tools and methodologies available on,their website if you do want to go down,that route,if you want to use an external standard,that part of this process will be taken,care of for you by your standard,and indeed the copper mark is very much,in progress on that,so track a as you can see its down the,left-hand side of the slide as you look,at it,um like i say this is it for if you,raise red flags or you just like to use,an external standard and i will assume,external standard is the use case going,forward for the purposes of today,you have to carry out steps 1 and 2a,if you find red flag risks you continue,with step two b onwards you complete all,five steps and if not,you go to step four and then step five,which is publishing,a a report an annual report um,outlining the risks you found the,mitigation process youve taken and so,on,the that gets that gets made public as,part of the transparency initiative,and your audit results will be reviewed,if youre using,um the copper mark due diligence,standard you will be helped and guided,through 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