Spotlight on Ebury's Head of Commodities
11/Nov/2014 • In The News•
After the excitement of LME week, Ebury’s metals team have a lot of catching up to do. It’s time to get the map out and start drawing lines on what metals will be going where in 2015 on the back of all those meetings.
Mark Hewlett, Head of Commodities, has a strong knowledge of the capital markets with a focus on metals having traded and overseen trading of physical precious and LME metals and their derivatives for the last 9 years.
Mark was named the number one forecaster for both base metals and gold/silver, beating 40 analysts from some of the largest banks, institutions and commodity trading operations globally in the Reuters 2009 Precious and Base Metal Poll. He then decided to cease giving public forecasts.
In this spotlight, we catch up with Mark on LME week, the metals market and the challenges faced by suppliers.
Q: What was your favourite moment of LME week 2014?
A: I couldn’t possibly pick a favourite meeting or event. It’s always good to catch up with old contacts and meeting new acquaintances, hearing their opinions on the previous year and expectations for the coming year. Getting home on Friday evening and to bed at a reasonable hour probably made me the happiest all week though.
Q: How long have you been working within physical metals?
A: I’ve been trading physical metals for over 10 years now, initially involved in trading Precious Metals but preferred the underlying fundamental and “reality” of the Non-Ferrous Market.
Q: What separates Ebury from the competition when it comes to physical metals?
A: We like to focus on our clients requirements to give them what they need. We know and appreciate that a producer and a user have different interests and this affects how they do business. We also have our own need, which is to make sure both sides get what they want. So if a producer wants to sell CIF and a buyer wants DDP, we’ll facilitate that. If another client wants 14 days to pay instead of whilst the ship’s still on the water, again, we’ll facilitate that.
Q: What are the main issues suppliers face?
A: Suppliers face many issues; decreasing ore grades, increased smelting capacity in China, union unrest and FX volatility would be top of my “concern list” for a South American or European refinery.
Q: If there is one date to watch the metals markets in the rest of 2014, which would it be?
A: Every day is one to watch; there are so many global variables, for example economic data, currency moves, natural disasters, exchange inventory movements. This is a 24/7/365 market.
Q: How long does it take to register with Ebury?
A: We have to adhere to international Anti Money Laundering rules and put in place Risk Based client on-boarding procedures. But, if you have your paperwork in order, it takes no time at all.
If you are interested in Physical Metals, enquire online now.