Experts answer questions from business executives at a seminar held in HCM City recently on trading on the London Metal Exchange. — Photo Courtesy of Sacombank

Sacombank and the London Metal Exchange (LME) recently organised a seminar on metals trading on the LME for customers trading metals such as aluminium, zinc, copper, lead, and tin, and having demand for commodity price insurance.

The seminar saw the participation of many prestigious companies in the fields of consulting and financial solutions such as INTL FCStone, Mitsui Bussan Commodities, Phillip Futures, and Argus.

At the event, LME experts and partners such as INTL FCStone, Mitsui Bussan Commodities, Phillip Futures, and Argus shared useful information on how to trade on the LME, introduced insurance solutions for businesses, provided up-to-date information about commodity markets and forecast future trends in commodity prices.

Sacombank also introduced to its corporate customers new technologies used in commodity future contracts from 2019 to make it easy to trade on international exchanges.

The bank plans to enable trading on mobile phones from early May, helping businesses trade easily and at any time and anywhere instead of only via the website.

The LME is the world's largest exchange for base and other metals in terms of options and futures volumes.

It offers futures and options trading in many ferrous and non-ferrous metal products such as aluminium, aluminium alloy, cobalt, copper, lead, scrap steel and China FOB hot-rolled coil (HRC) steel (Argus), North American hot rolled coil steel (Platts), and others.

It also offers other derivative tools for price risk prevention, buy/sell options and the option of physical delivery to settle contracts and its prices are used globally as reference. — VNS