Base metals - Marex

<!DOCTYPE html> <html lang="en-GB"> <head> <meta charset="UTF-8" /> <meta name="viewport" content="width=device-width, initial-scale=1, maximum-scale=5" /> <meta name="apple-mobile-web-app-capable" content="yes" /> <link rel="preconnect" href="https://fonts.gstatic.com"> <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;600&display=swap" rel="stylesheet"> <link rel="apple-touch-icon" sizes="180x180" href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/favicon/apple-touch-icon.png"> <link rel="icon" type="image/png" sizes="32x32" href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/favicon/favicon-32x32.png"> <link rel="icon" type="image/png" sizes="16x16" href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/favicon/favicon-16x16.png"> <link rel="manifest" href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/favicon/site.webmanifest"> <link id="safari-favicon" rel="mask-icon" href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/favicon/safari-pinned-tab.svg?v=1732710116" color="#1C1B4A"> <meta name="msapplication-TileColor" content="#1C1B4A"> <meta name="theme-color" content="#1C1B4A"> <link href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/pwa/iphone5_splash.png" media="(device-width: 320px) and (device-height: 568px) and (-webkit-device-pixel-ratio: 2)" rel="apple-touch-startup-image" /> <link href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/pwa/iphone6_splash.png" media="(device-width: 375px) and (device-height: 667px) and (-webkit-device-pixel-ratio: 2)" rel="apple-touch-startup-image" /> <link href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/pwa/iphoneplus_splash.png" media="(device-width: 621px) and (device-height: 1104px) and (-webkit-device-pixel-ratio: 3)" rel="apple-touch-startup-image" /> <link href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/pwa/iphonex_splash.png" media="(device-width: 375px) and (device-height: 812px) and (-webkit-device-pixel-ratio: 3)" rel="apple-touch-startup-image" /> <link href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/pwa/iphonexr_splash.png" media="(device-width: 414px) and (device-height: 896px) and (-webkit-device-pixel-ratio: 2)" rel="apple-touch-startup-image" /> <link href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/pwa/iphonexsmax_splash.png" media="(device-width: 414px) and (device-height: 896px) and (-webkit-device-pixel-ratio: 3)" rel="apple-touch-startup-image" /> <link href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/pwa/ipad_splash.png" media="(device-width: 768px) and (device-height: 1024px) and (-webkit-device-pixel-ratio: 2)" rel="apple-touch-startup-image" /> <link href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/pwa/ipadpro1_splash.png" media="(device-width: 834px) and (device-height: 1112px) and (-webkit-device-pixel-ratio: 2)" rel="apple-touch-startup-image" /> <link href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/pwa/ipadpro3_splash.png" media="(device-width: 834px) and (device-height: 1194px) and (-webkit-device-pixel-ratio: 2)" rel="apple-touch-startup-image" /> <link href="https://www.marex.com/wp-content/themes/marex-2024/assets/img/pwa/ipadpro2_splash.png" media="(device-width: 1024px) and (device-height: 1366px) and (-webkit-device-pixel-ratio: 2)" rel="apple-touch-startup-image" />   <script src="https://privacyportalde-cdn.onetrust.com/privacy-notice-scripts/otnotice-bundle-1.0.min.js" type="text/javascript" charset="UTF-8" id="otprivacy-notice-script"> settings = "eyJjYWxsYmFja1VybCI6Imh0dHBzOi8vcHJpdmFjeXBvcnRhbC1kZS5vbmV0cnVzdC5jb20vcmVxdWVzdC92MS9wcml2YWN5Tm90aWNlcy9zdGF0cy92aWV3cyJ9"; bundleUrl = "https://privacyportalde-cdn.onetrust.com/8266cf8b-cb2b-483b-98c3-15e2d488dc9a/notice-bundles/e998e1c3-79ce-49df-ab89-41e808c8c423.json"; </script> <script type="text/javascript" charset="UTF-8"> // Wait for the corresponding div to be available in the DOM before attempting to render the policy document.addEventListener('DOMContentLoaded', function() { // To ensure external settings are loaded, use the Initialized promise: OneTrust.NoticeApi.Initialized.then(function() { OneTrust.NoticeApi.LoadNotices([ "https://privacyportalde-cdn.onetrust.com/8266cf8b-cb2b-483b-98c3-15e2d488dc9a/privacy-notices/9ef375f2-5630-4e95-ac5d-41e235e02609.json", "https://privacyportalde-cdn.onetrust.com/8266cf8b-cb2b-483b-98c3-15e2d488dc9a/privacy-notices/e71b6ec8-4139-40ff-97c9-216481f0bb09.json" ], false).then(function() { // Wire up dynamic policy links $('.otnotice-content a[href="privacy-policy"').attr('href', 'https://www.marex.com/privacy-policy'); $('.otnotice-content a[href="privacy-preference-centre"').click(function(event) { event.preventDefault(); var cookiesSidebarButton = document.getElementById('ot-sdk-btn'); if (cookiesSidebarButton) { cookiesSidebarButton.click(); } }); }); }); }); </script>   <script src="https://cdn.cookielaw.org/scripttemplates/otSDKStub.js" type="text/javascript" charset="UTF-8" data-domain-script=bed5f0b1-0af7-4a1a-90ab-7552ee9185d5> </script> <script type="text/javascript"> function OptanonWrapper() { } </script>  <meta name='robots' content='index, follow, max-image-preview:large, max-snippet:-1, max-video-preview:-1' />  <script data-cfasync="false" data-pagespeed-no-defer> var gtm4wp_datalayer_name = "dataLayer"; var dataLayer = dataLayer || []; </script>   <title>Base metals - Marex</title> <meta name="description" content="Marex provides unrivalled access to base metals across global metals exchanges, as well as base metals intelligence and analysis." /> <link rel="canonical" href="https://www.marex.com/markets/metals/base-metals/" /> <meta property="og:locale" content="en_GB" /> <meta property="og:type" content="article" /> <meta property="og:title" content="Base metals" /> <meta property="og:description" content="Marex provides unrivalled access to base metals across global metals exchanges, as well as base metals intelligence and analysis." /> <meta property="og:url" content="https://www.marex.com/markets/metals/base-metals/" /> <meta property="og:site_name" content="Marex" /> <meta property="article:modified_time" content="2024-10-17T15:35:39+00:00" /> <meta property="og:image" content="https://dsojnlf6w2v99.cloudfront.net/uploads/2024/08/share_preview-marex.png" /> <meta property="og:image:width" content="1200" /> <meta property="og:image:height" content="630" /> <meta property="og:image:type" content="image/png" /> <meta name="twitter:card" content="summary_large_image" /> <meta name="twitter:label1" content="Estimated reading time" /> <meta name="twitter:data1" content="1 minute" /> <script type="application/ld+json" class="yoast-schema-graph">{"@context":"https://schema.org","@graph":[{"@type":"WebPage","@id":"https://www.marex.com/markets/metals/base-metals/","url":"https://www.marex.com/markets/metals/base-metals/","name":"Base metals - Marex","isPartOf":{"@id":"https://www.marex.com/#website"},"primaryImageOfPage":{"@id":"https://www.marex.com/markets/metals/base-metals/#primaryimage"},"image":{"@id":"https://www.marex.com/markets/metals/base-metals/#primaryimage"},"thumbnailUrl":"https://dsojnlf6w2v99.cloudfront.net/uploads/2021/03/productbase-metals.svg","datePublished":"2021-03-12T12:37:55+00:00","dateModified":"2024-10-17T15:35:39+00:00","description":"Marex provides unrivalled access to base metals across global metals exchanges, as well as base metals intelligence and analysis.","breadcrumb":{"@id":"https://www.marex.com/markets/metals/base-metals/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https://www.marex.com/markets/metals/base-metals/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https://www.marex.com/markets/metals/base-metals/#primaryimage","url":"https://dsojnlf6w2v99.cloudfront.net/uploads/2021/03/productbase-metals.svg","contentUrl":"https://dsojnlf6w2v99.cloudfront.net/uploads/2021/03/productbase-metals.svg","width":56,"height":56,"caption":"Marex Markets - Base Metals"},{"@type":"BreadcrumbList","@id":"https://www.marex.com/markets/metals/base-metals/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://www.marex.com/"},{"@type":"ListItem","position":2,"name":"Metals","item":"https://www.marex.com/markets/metals/"},{"@type":"ListItem","position":3,"name":"Base metals"}]},{"@type":"WebSite","@id":"https://www.marex.com/#website","url":"https://www.marex.com/","name":"Marex","description":"A diversified global financial services platform","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://www.marex.com/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"}]}</script>  <style id='classic-theme-styles-inline-css' type='text/css'> /*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} </style> <style id='global-styles-inline-css' type='text/css'> body{--wp--preset--color--black: #000000;--wp--preset--color--cyan-bluish-gray: #abb8c3;--wp--preset--color--white: #ffffff;--wp--preset--color--pale-pink: #f78da7;--wp--preset--color--vivid-red: #cf2e2e;--wp--preset--color--luminous-vivid-orange: #ff6900;--wp--preset--color--luminous-vivid-amber: #fcb900;--wp--preset--color--light-green-cyan: #7bdcb5;--wp--preset--color--vivid-green-cyan: #00d084;--wp--preset--color--pale-cyan-blue: #8ed1fc;--wp--preset--color--vivid-cyan-blue: #0693e3;--wp--preset--color--vivid-purple: #9b51e0;--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple: linear-gradient(135deg,rgba(6,147,227,1) 0%,rgb(155,81,224) 100%);--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan: linear-gradient(135deg,rgb(122,220,180) 0%,rgb(0,208,130) 100%);--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange: linear-gradient(135deg,rgba(252,185,0,1) 0%,rgba(255,105,0,1) 100%);--wp--preset--gradient--luminous-vivid-orange-to-vivid-red: linear-gradient(135deg,rgba(255,105,0,1) 0%,rgb(207,46,46) 100%);--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray: linear-gradient(135deg,rgb(238,238,238) 0%,rgb(169,184,195) 100%);--wp--preset--gradient--cool-to-warm-spectrum: linear-gradient(135deg,rgb(74,234,220) 0%,rgb(151,120,209) 20%,rgb(207,42,186) 40%,rgb(238,44,130) 60%,rgb(251,105,98) 80%,rgb(254,248,76) 100%);--wp--preset--gradient--blush-light-purple: linear-gradient(135deg,rgb(255,206,236) 0%,rgb(152,150,240) 100%);--wp--preset--gradient--blush-bordeaux: linear-gradient(135deg,rgb(254,205,165) 0%,rgb(254,45,45) 50%,rgb(107,0,62) 100%);--wp--preset--gradient--luminous-dusk: linear-gradient(135deg,rgb(255,203,112) 0%,rgb(199,81,192) 50%,rgb(65,88,208) 100%);--wp--preset--gradient--pale-ocean: linear-gradient(135deg,rgb(255,245,203) 0%,rgb(182,227,212) 50%,rgb(51,167,181) 100%);--wp--preset--gradient--electric-grass: linear-gradient(135deg,rgb(202,248,128) 0%,rgb(113,206,126) 100%);--wp--preset--gradient--midnight: linear-gradient(135deg,rgb(2,3,129) 0%,rgb(40,116,252) 100%);--wp--preset--font-size--small: 13px;--wp--preset--font-size--medium: 20px;--wp--preset--font-size--large: 36px;--wp--preset--font-size--x-large: 42px;--wp--preset--spacing--20: 0.44rem;--wp--preset--spacing--30: 0.67rem;--wp--preset--spacing--40: 1rem;--wp--preset--spacing--50: 1.5rem;--wp--preset--spacing--60: 2.25rem;--wp--preset--spacing--70: 3.38rem;--wp--preset--spacing--80: 5.06rem;--wp--preset--shadow--natural: 6px 6px 9px rgba(0, 0, 0, 0.2);--wp--preset--shadow--deep: 12px 12px 50px rgba(0, 0, 0, 0.4);--wp--preset--shadow--sharp: 6px 6px 0px rgba(0, 0, 0, 0.2);--wp--preset--shadow--outlined: 6px 6px 0px -3px rgba(255, 255, 255, 1), 6px 6px rgba(0, 0, 0, 1);--wp--preset--shadow--crisp: 6px 6px 0px rgba(0, 0, 0, 1);}:where(.is-layout-flex){gap: 0.5em;}:where(.is-layout-grid){gap: 0.5em;}body .is-layout-flex{display: flex;}body .is-layout-flex{flex-wrap: wrap;align-items: center;}body .is-layout-flex > *{margin: 0;}body .is-layout-grid{display: grid;}body .is-layout-grid > *{margin: 0;}:where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;}:where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;}.has-black-color{color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-color{color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-color{color: var(--wp--preset--color--white) !important;}.has-pale-pink-color{color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-color{color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-color{color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-color{color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-color{color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-color{color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-color{color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-color{color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-color{color: var(--wp--preset--color--vivid-purple) !important;}.has-black-background-color{background-color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-background-color{background-color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-background-color{background-color: var(--wp--preset--color--white) !important;}.has-pale-pink-background-color{background-color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-background-color{background-color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-background-color{background-color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-background-color{background-color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-background-color{background-color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-background-color{background-color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-background-color{background-color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-background-color{background-color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-background-color{background-color: var(--wp--preset--color--vivid-purple) !important;}.has-black-border-color{border-color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-border-color{border-color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-border-color{border-color: var(--wp--preset--color--white) !important;}.has-pale-pink-border-color{border-color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-border-color{border-color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-border-color{border-color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-border-color{border-color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-border-color{border-color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-border-color{border-color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-border-color{border-color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-border-color{border-color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-border-color{border-color: var(--wp--preset--color--vivid-purple) !important;}.has-vivid-cyan-blue-to-vivid-purple-gradient-background{background: var(--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple) !important;}.has-light-green-cyan-to-vivid-green-cyan-gradient-background{background: var(--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan) !important;}.has-luminous-vivid-amber-to-luminous-vivid-orange-gradient-background{background: var(--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange) !important;}.has-luminous-vivid-orange-to-vivid-red-gradient-background{background: var(--wp--preset--gradient--luminous-vivid-orange-to-vivid-red) !important;}.has-very-light-gray-to-cyan-bluish-gray-gradient-background{background: var(--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray) !important;}.has-cool-to-warm-spectrum-gradient-background{background: var(--wp--preset--gradient--cool-to-warm-spectrum) !important;}.has-blush-light-purple-gradient-background{background: var(--wp--preset--gradient--blush-light-purple) !important;}.has-blush-bordeaux-gradient-background{background: var(--wp--preset--gradient--blush-bordeaux) !important;}.has-luminous-dusk-gradient-background{background: var(--wp--preset--gradient--luminous-dusk) !important;}.has-pale-ocean-gradient-background{background: var(--wp--preset--gradient--pale-ocean) !important;}.has-electric-grass-gradient-background{background: var(--wp--preset--gradient--electric-grass) !important;}.has-midnight-gradient-background{background: var(--wp--preset--gradient--midnight) !important;}.has-small-font-size{font-size: var(--wp--preset--font-size--small) !important;}.has-medium-font-size{font-size: var(--wp--preset--font-size--medium) !important;}.has-large-font-size{font-size: var(--wp--preset--font-size--large) !important;}.has-x-large-font-size{font-size: var(--wp--preset--font-size--x-large) !important;} .wp-block-navigation a:where(:not(.wp-element-button)){color: inherit;} :where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;} :where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;} .wp-block-pullquote{font-size: 1.5em;line-height: 1.6;} </style> <link rel='stylesheet' id='auth0-widget-css' href='https://www.marex.com/wp-content/plugins/auth0/assets/css/main.css?ver=4.6.2' type='text/css' media='all' /> <link rel='stylesheet' id='site-style-css' href='https://www.marex.com/wp-content/themes/marex-2024/style.css?ver=1732014267' type='text/css' media='all' /> <link rel='stylesheet' id='fancybox-css' href='https://www.marex.com/wp-content/themes/marex-2024/assets/vendor/fancybox/jquery.fancybox.min.css?ver=1732014267' type='text/css' media='all' /> <link rel='stylesheet' id='owl-css' href='https://www.marex.com/wp-content/themes/marex-2024/assets/vendor/owlcarousel/owl.carousel.min.css?ver=1732014267' type='text/css' media='all' /> <link rel='stylesheet' id='owl-theme-css' href='https://www.marex.com/wp-content/themes/marex-2024/assets/vendor/owlcarousel/owl.theme.default.min.css?ver=1732014267' type='text/css' media='all' /> <link rel='stylesheet' id='onetrust-privacy-policy-styles-css' href='https://www.marex.com/wp-content/themes/marex-2024/oneTrustPrivacyPolicyStyle.css?ver=1732014267' type='text/css' media='all' /> <script type="text/javascript" src="https://www.marex.com/wp-includes/js/jquery/jquery.min.js?ver=3.7.1" id="jquery-core-js"></script> <script type="text/javascript" src="https://www.marex.com/wp-includes/js/jquery/jquery-migrate.min.js?ver=3.4.1" id="jquery-migrate-js"></script> <script type="text/javascript" src="https://www.marex.com/wp-includes/js/jquery/ui/effect.min.js?ver=1.13.2" id="jquery-effects-core-js"></script> <script type="text/javascript" id="site-script-js-extra"> /* <![CDATA[ */ var php = {"ajax_url":"https:\/\/www.marex.com\/wp-admin\/admin-ajax.php","site_url":"https:\/\/www.marex.com"}; /* ]]> */ </script> <script type="text/javascript" src="https://www.marex.com/wp-content/themes/marex-2024/assets/js/site.js?ver=1732014267" id="site-script-js"></script> <script type="text/javascript" src="https://www.marex.com/wp-content/themes/marex-2024/assets/vendor/fancybox/jquery.fancybox.min.js?ver=1732014267" id="fancybox-js"></script> <script type="text/javascript" src="https://www.marex.com/wp-content/themes/marex-2024/assets/vendor/owlcarousel/owl.carousel.min.js?ver=1732014267" id="owl-script-js"></script> <script type="text/javascript" src="https://www.marex.com/wp-content/themes/marex-2024/assets/vendor/isotope/isotope.pkgd.min.js?ver=1732014267" id="isotope-script-js"></script>   <script data-cfasync="false" data-pagespeed-no-defer> var dataLayer_content = {"pagePostType":"market","pagePostType2":"single-market","pagePostAuthor":"LHarding"}; dataLayer.push( dataLayer_content ); </script> <script data-cfasync="false"> (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= '//www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-KR7XWG9'); </script> </head> <body class="market-template-default single single-market postid-724">   <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-KR7XWG9" height="0" width="0" style="display:none;visibility:hidden" aria-hidden="true"></iframe></noscript>   <button id="ot-sdk-btn" style="display: none;" class="ot-sdk-show-settings">Cookie Settings</button>   <img aria-hidden="true" id="background-image" src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/mx-rotated.svg" alt="Marex Background Sketch">  <div id="body-wrapper">  <header id="header" role="banner"> <div class="header-inner">  <a href="https://www.marex.com" id="logo" title="Marex"> <img src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/logo.svg" alt="Marex Logo"> </a>  <div class="nav-wrapper">  <a href="#" class="mobile-back-button"><span><svg width="11" height="18" viewBox="0 0 11 18" fill="none" xmlns="http://www.w3.org/2000/svg"> <path d="M9.64258 1L1.64258 9L9.64258 17" stroke="#793690" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" /> </svg></span> back</a>  <nav class="nav" role="navigation" aria-label="Main Navigation">  <ul class="menu"> <li id="menu-item-5757" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-home columns-one-column alignment-left menu-item-5757"><a href="https://www.marex.com/">Home</a></li> <li id="menu-item-424" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children columns-two-columns alignment-left menu-item-424"><a href="https://www.marex.com/services/">Services</a> <ul class="sub-menu"> <li id="menu-item-425" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-425"><a href="https://www.marex.com/services/">Services overview</a></li> <li id="menu-item-715" class="menu-item menu-item-type-post_type menu-item-object-service columns-one-column alignment-left menu-item-715"><a href="https://www.marex.com/services/clearing/">Clearing</a></li> <li id="menu-item-491" class="menu-item menu-item-type-post_type menu-item-object-service columns-one-column alignment-left menu-item-491"><a href="https://www.marex.com/services/market-making/">Market making</a></li> <li id="menu-item-702" class="menu-item menu-item-type-post_type menu-item-object-service columns-one-column alignment-left menu-item-702"><a href="https://www.marex.com/services/execution/">Agency and execution</a></li> <li id="menu-item-490" class="menu-item menu-item-type-post_type menu-item-object-service columns-one-column alignment-left menu-item-490"><a href="https://www.marex.com/services/hedging-investment-solutions/">Hedging and investment solutions</a></li> </ul> </li> <li id="menu-item-427" class="menu-item menu-item-type-post_type menu-item-object-page current-menu-ancestor current_page_ancestor menu-item-has-children columns-two-columns alignment-left menu-item-427"><a href="https://www.marex.com/markets/">Markets</a> <ul class="sub-menu"> <li id="menu-item-428" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-428"><a href="https://www.marex.com/markets/">Markets overview</a></li> <li id="menu-item-437" class="yellow menu-item menu-item-type-post_type menu-item-object-market menu-item-has-children columns-one-column alignment-left menu-item-437"><a href="https://www.marex.com/markets/agriculture/">Agriculture</a> <ul class="sub-menu"> <li id="menu-item-5758" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-5758"><a href="https://www.marex.com/markets/agriculture/">Overview</a></li> <li id="menu-item-439" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-439"><a href="https://www.marex.com/markets/agriculture/cocoa/">Cocoa</a></li> <li id="menu-item-438" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-438"><a href="https://www.marex.com/markets/agriculture/coffee/">Coffee</a></li> <li id="menu-item-1246" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-1246"><a href="https://www.marex.com/markets/agriculture/cotton/">Cotton</a></li> <li id="menu-item-739" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-739"><a href="https://www.marex.com/markets/agriculture/dairy/">Dairy</a></li> <li id="menu-item-441" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-441"><a href="https://www.marex.com/markets/agriculture/forestry/">Forestry</a></li> <li id="menu-item-442" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-442"><a href="https://www.marex.com/markets/agriculture/grains/">Grains and oilseeds</a></li> <li id="menu-item-440" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-440"><a href="https://www.marex.com/markets/agriculture/livestock/">Livestock</a></li> <li id="menu-item-443" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-443"><a href="https://www.marex.com/markets/agriculture/sugar/">Sugar</a></li> </ul> </li> <li id="menu-item-446" class="brown menu-item menu-item-type-post_type menu-item-object-market current-market-ancestor current-menu-ancestor current-menu-parent current-market-parent menu-item-has-children columns-one-column alignment-right menu-item-446"><a href="https://www.marex.com/markets/metals/">Metals</a> <ul class="sub-menu"> <li id="menu-item-5759" class="menu-item menu-item-type-post_type menu-item-object-market current-market-ancestor current-market-parent columns-one-column alignment-left menu-item-5759"><a href="https://www.marex.com/markets/metals/">Overview</a></li> <li id="menu-item-743" class="menu-item menu-item-type-post_type menu-item-object-market current-menu-item columns-one-column alignment-left menu-item-743"><a href="https://www.marex.com/markets/metals/base-metals/" aria-current="page">Base metals</a></li> <li id="menu-item-744" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-744"><a href="https://www.marex.com/markets/metals/ferrous-metals/">Ferrous metals</a></li> <li id="menu-item-742" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-742"><a href="https://www.marex.com/markets/metals/precious-metals/">Precious metals</a></li> </ul> </li> <li id="menu-item-444" class="blue menu-item menu-item-type-post_type menu-item-object-market menu-item-has-children columns-one-column alignment-left menu-item-444"><a href="https://www.marex.com/markets/energy/">Energy</a> <ul class="sub-menu"> <li id="menu-item-5760" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-5760"><a href="https://www.marex.com/markets/energy/">Overview</a></li> <li id="menu-item-755" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-755"><a href="https://www.marex.com/markets/energy/biofuels/">Biofuels</a></li> <li id="menu-item-749" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-749"><a href="https://www.marex.com/markets/energy/energy-utility-options/">Energy and utility options</a></li> <li id="menu-item-753" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-753"><a href="https://www.marex.com/markets/energy/freight/">Freight and shipping</a></li> <li id="menu-item-752" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-752"><a href="https://www.marex.com/markets/energy/natural-gas/">Natural gas</a></li> <li id="menu-item-751" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-751"><a href="https://www.marex.com/markets/energy/oil-oil-products/">Oil and oil products</a></li> <li id="menu-item-750" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-750"><a href="https://www.marex.com/markets/energy/power/">Power</a></li> </ul> </li> <li id="menu-item-445" class="green menu-item menu-item-type-post_type menu-item-object-market menu-item-has-children columns-one-column alignment-right menu-item-445"><a href="https://www.marex.com/markets/environmental/">Environmental</a> <ul class="sub-menu"> <li id="menu-item-5761" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-5761"><a href="https://www.marex.com/markets/environmental/">Overview</a></li> <li id="menu-item-1551" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-1551"><a href="https://www.marex.com/markets/environmental/clean-energy/">Clean energy</a></li> <li id="menu-item-745" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-745"><a href="https://www.marex.com/markets/environmental/compliance-carbon-emissions-markets/">Compliance emissions markets</a></li> <li id="menu-item-4917" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-4917"><a href="https://www.marex.com/markets/environmental/voluntary-carbon-emissions-markets/">Voluntary emissions markets</a></li> <li id="menu-item-4918" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-4918"><a href="https://www.marex.com/markets/environmental/recycled-metals/">Recycled metals</a></li> <li id="menu-item-748" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-748"><a href="https://www.marex.com/markets/environmental/environmental-consulting-services/">Environmental consulting services</a></li> <li id="menu-item-4920" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-4920"><a href="https://www.marex.com/markets/environmental/upstream-decarbonisation/">Upstream decarbonisation</a></li> </ul> </li> <li id="menu-item-447" class="orange menu-item menu-item-type-post_type menu-item-object-market menu-item-has-children columns-one-column alignment-right menu-item-447"><a href="https://www.marex.com/markets/capital-markets/">Capital markets</a> <ul class="sub-menu"> <li id="menu-item-5762" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-5762"><a href="https://www.marex.com/markets/capital-markets/">Overview</a></li> <li id="menu-item-740" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-740"><a href="https://www.marex.com/markets/capital-markets/credit/">Credit</a></li> <li id="menu-item-1151" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-1151"><a href="https://www.marex.com/markets/capital-markets/equities/">Equities</a></li> <li id="menu-item-4343" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-4343"><a href="https://www.marex.com/markets/capital-markets/financing/">Financing</a></li> <li id="menu-item-4344" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-4344"><a href="https://www.marex.com/markets/capital-markets/foreign-exchange/">Foreign exchange</a></li> <li id="menu-item-4991" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-4991"><a href="https://www.marex.com/markets/capital-markets/outsourced-trading/">Outsourced trading</a></li> <li id="menu-item-4992" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-4992"><a href="https://www.marex.com/markets/capital-markets/prime-brokerage/">Prime brokerage</a></li> <li id="menu-item-4345" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-4345"><a href="https://www.marex.com/markets/capital-markets/rates/">Rates</a></li> <li id="menu-item-6249" class="menu-item menu-item-type-post_type menu-item-object-market columns-one-column alignment-left menu-item-6249"><a href="https://www.marex.com/markets/capital-markets/funds/">Funds</a></li> </ul> </li> </ul> </li> <li id="menu-item-423" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-423"><a href="https://www.marex.com/technology/">Technology</a></li> <li id="menu-item-5480" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children columns-one-column alignment-left menu-item-5480"><a href="https://ir.marex.com/">Investors</a> <ul class="sub-menu"> <li id="menu-item-5766" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5766"><a href="https://ir.marex.com/">Overview</a></li> <li id="menu-item-5767" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5767"><a href="https://ir.marex.com/investment-overview">Investment overview</a></li> <li id="menu-item-5768" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children columns-one-column alignment-left menu-item-5768"><a href="https://ir.marex.com/news-events/press-releases">News and events</a> <ul class="sub-menu"> <li id="menu-item-5769" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5769"><a href="https://ir.marex.com/news-events/press-releases">Press releases</a></li> <li id="menu-item-5770" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5770"><a href="https://ir.marex.com/news-events/events-and-presentation">Events and presentations</a></li> </ul> </li> <li id="menu-item-5771" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children columns-one-column alignment-left menu-item-5771"><a href="https://ir.marex.com/financials/quarterly-results">Financials</a> <ul class="sub-menu"> <li id="menu-item-5772" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5772"><a href="https://ir.marex.com/financials/quarterly-results">Quarterly results</a></li> <li id="menu-item-5773" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5773"><a href="https://ir.marex.com/financials/annual-reports">Annual reports</a></li> <li id="menu-item-5774" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5774"><a href="https://ir.marex.com/financials/proxy-materials">Proxy materials</a></li> <li id="menu-item-5775" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5775"><a href="https://ir.marex.com/financials/sec-filings">SEC Filings</a></li> </ul> </li> <li id="menu-item-5776" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children columns-one-column alignment-left menu-item-5776"><a href="https://ir.marex.com/stock-information/stock-quote-chart">Stock information</a> <ul class="sub-menu"> <li id="menu-item-5777" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5777"><a href="https://ir.marex.com/stock-information/stock-quote-chart">Stock quote and chart</a></li> <li id="menu-item-5778" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5778"><a href="https://ir.marex.com/stock-information/historical-price-lookup">Historical price lookup</a></li> <li id="menu-item-5779" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5779"><a href="https://ir.marex.com/stock-information/investment-calculator">Investment calculator</a></li> <li id="menu-item-5780" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5780"><a href="https://ir.marex.com/stock-information/analyst-coverage">Analyst coverage</a></li> <li id="menu-item-5781" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5781"><a href="https://ir.marex.com/credit-investors">Credit investors</a></li> </ul> </li> <li id="menu-item-5811" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children columns-one-column alignment-left menu-item-5811"><a href="https://ir.marex.com/">Corporate governance</a> <ul class="sub-menu"> <li id="menu-item-5808" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-5808"><a href="https://www.marex.com/group-board-redirect/">Board of directors</a></li> <li id="menu-item-5784" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5784"><a href="https://ir.marex.com/corporate-governance/board-composition">Board composition</a></li> <li id="menu-item-5785" class="menu-item menu-item-type-custom menu-item-object-custom columns-one-column alignment-left menu-item-5785"><a href="https://ir.marex.com/corporate-governance/governance-documents">Governance documents</a></li> <li id="menu-item-5802" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-5802"><a href="https://www.marex.com/executive-committee-redirect/">Executive committee</a></li> <li id="menu-item-5814" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-5814"><a href="https://www.marex.com/global-leadership-team-redirect/">Global leadership team</a></li> </ul> </li> <li id="menu-item-5796" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-5796"><a href="https://www.marex.com/sustainability-redirect/">Sustainability</a></li> <li id="menu-item-5789" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children columns-one-column alignment-left menu-item-5789"><a href="https://ir.marex.com/ir-resources/contact-ir">IR resources</a> <ul class="sub-menu"> <li id="menu-item-5790" class="menu-item menu-item-type-custom menu-item-object-custom columns- alignment- menu-item-5790"><a href="https://ir.marex.com/ir-resources/contact-ir">Contact IR</a></li> <li id="menu-item-5791" class="menu-item menu-item-type-custom menu-item-object-custom columns- alignment- menu-item-5791"><a href="https://ir.marex.com/ir-resources/faqs">FAQs</a></li> <li id="menu-item-5792" class="menu-item menu-item-type-custom menu-item-object-custom columns- alignment- menu-item-5792"><a href="https://ir.marex.com/ir-resources/email-alerts">Email alerts</a></li> </ul> </li> </ul> </li> <li id="menu-item-429" class="margin menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children columns-two-columns alignment-left menu-item-429"><a href="https://www.marex.com/about-us/">About us</a> <ul class="sub-menu"> <li id="menu-item-430" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-430"><a href="https://www.marex.com/about-us/">About us</a></li> <li id="menu-item-768" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children columns-one-column alignment-left menu-item-768"><a href="https://www.marex.com/about-us/the-team/">The team</a> <ul class="sub-menu"> <li id="menu-item-635" class="menu-item menu-item-type-taxonomy menu-item-object-team-areas columns-one-column alignment-left menu-item-635"><a href="https://www.marex.com/the-team/executive-committee/">Executive committee</a></li> <li id="menu-item-4523" class="menu-item menu-item-type-taxonomy menu-item-object-team-areas columns-one-column alignment-left menu-item-4523"><a href="https://www.marex.com/the-team/global-leadership-team/">Global leadership team</a></li> <li id="menu-item-435" class="menu-item menu-item-type-taxonomy menu-item-object-team-areas columns-one-column alignment-left menu-item-435"><a href="https://www.marex.com/the-team/group-board/">Group board</a></li> </ul> </li> <li id="menu-item-492" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-492"><a href="https://www.marex.com/about-us/the-group/">Group companies</a></li> <li id="menu-item-5481" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children columns-one-column alignment-left menu-item-5481"><a href="https://www.marex.com/about-us/sustainability/">Sustainability</a> <ul class="sub-menu"> <li id="menu-item-5765" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-5765"><a href="https://www.marex.com/about-us/sustainability/">Sustainability overview</a></li> <li id="menu-item-5763" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-5763"><a href="https://www.marex.com/about-us/sustainability/people/">People</a></li> <li id="menu-item-5764" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-5764"><a href="https://www.marex.com/about-us/sustainability/planet/">Planet</a></li> </ul> </li> <li id="menu-item-5503" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-5503"><a href="https://www.marex.com/about-us/regulatory/">Regulatory</a></li> </ul> </li> <li id="menu-item-4859" class="menu-item menu-item-type-post_type menu-item-object-page current_page_parent columns-one-column alignment-left menu-item-4859"><a href="https://www.marex.com/news/">Newsroom</a></li> <li id="menu-item-4860" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children columns-one-column alignment-left menu-item-4860"><a href="https://www.marex.com/careers/">Careers</a> <ul class="sub-menu"> <li id="menu-item-4981" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-4981"><a href="https://www.marex.com/careers/">Overview</a></li> <li id="menu-item-5286" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-5286"><a href="https://www.marex.com/careers/student-graduate-careers/">Student and graduate careers</a></li> <li id="menu-item-4980" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-4980"><a href="https://www.marex.com/careers/career-opportunities/">Career opportunities</a></li> <li id="menu-item-774" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-774"><a href="https://www.marex.com/careers/our-values/">Our values</a></li> </ul> </li> <li id="menu-item-431" class="menu-item menu-item-type-post_type menu-item-object-page columns-one-column alignment-left menu-item-431"><a href="https://www.marex.com/contact-us/">Contact us</a></li> </ul>  <div class="links">  <a href="https://app.neon.markets" rel="noreferrer" class="account-link" title="Log In" target="_blank"> <svg width="26" height="29" viewBox="0 0 26 29" fill="none" xmlns="http://www.w3.org/2000/svg"> <path fill-rule="evenodd" clip-rule="evenodd" d="M12.5243 0C10.6136 0 8.78103 0.759057 7.4299 2.11019C6.07877 3.46132 5.31972 5.29385 5.31972 7.20463C5.31972 9.11542 6.07877 10.9479 7.4299 12.2991C8.78103 13.6502 10.6136 14.4093 12.5243 14.4093C14.4351 14.4093 16.2677 13.6502 17.6188 12.2991C18.9699 10.9479 19.729 9.11542 19.729 7.20463C19.729 5.29385 18.9699 3.46132 17.6188 2.11019C16.2677 0.759057 14.4351 0 12.5243 0ZM8.84412 3.5244C9.82018 2.54834 11.144 2 12.5243 2C13.9047 2 15.2285 2.54834 16.2046 3.5244C17.1806 4.50046 17.729 5.82428 17.729 7.20463C17.729 8.58499 17.1806 9.90881 16.2046 10.8849C15.2285 11.8609 13.9047 12.4093 12.5243 12.4093C11.144 12.4093 9.82018 11.8609 8.84412 10.8849C7.86806 9.90881 7.31972 8.58499 7.31972 7.20463C7.31972 5.82428 7.86806 4.50046 8.84412 3.5244ZM5.08208 20.1505C7.05551 18.1771 9.73205 17.0684 12.5229 17.0684C15.3137 17.0684 17.9903 18.1771 19.9637 20.1505C21.9371 22.1239 23.0458 24.8004 23.0458 27.5913C23.0458 28.1436 23.4935 28.5913 24.0458 28.5913C24.5981 28.5913 25.0458 28.1436 25.0458 27.5913C25.0458 24.27 23.7264 21.0848 21.3779 18.7363C19.0294 16.3878 15.8442 15.0684 12.5229 15.0684C9.20161 15.0684 6.01637 16.3878 3.66787 18.7363C1.31937 21.0848 0 24.27 0 27.5913C0 28.1436 0.447715 28.5913 1 28.5913C1.55228 28.5913 2 28.1436 2 27.5913C2 24.8004 3.10866 22.1239 5.08208 20.1505Z" fill="#1C1B4A" /> </svg> <span class="text">My account</span> </a>  <a href="#" class="search-link"> <svg width="27" height="28" viewBox="0 0 27 28" fill="none" xmlns="http://www.w3.org/2000/svg"> <path d="M18.19 18.9851L26 26.7962M1.8023 15.804C2.84695 18.262 4.82524 20.2043 7.30195 21.2036C9.77867 22.203 12.5509 22.1775 15.0089 21.1329C17.4668 20.0882 19.4091 18.1099 20.4085 15.6332C21.4078 13.1565 21.3824 10.3842 20.3377 7.92628C19.8205 6.70922 19.0686 5.60597 18.1249 4.6795C17.1813 3.75304 16.0644 3.0215 14.8381 2.52667C13.6117 2.03184 12.2999 1.78341 10.9776 1.79554C9.65523 1.80768 8.34821 2.08016 7.13116 2.59742C5.9141 3.11468 4.81085 3.86659 3.88438 4.81022C2.95792 5.75385 2.22638 6.87073 1.73155 8.09707C1.23672 9.32342 0.988286 10.6352 1.00042 11.9576C1.01256 13.2799 1.28504 14.587 1.8023 15.804Z" stroke="#1C1B4A" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" /> </svg> <span class="text">Search</span> </a>  <div class="search-form-wrap"> <form action="https://www.marex.com" class="search-form" role="search"> <input type="text" name="s" value="" placeholder="Search" aria-label="Search" autocomplete="off"> <button type="submit"> <svg width="31" height="23" viewBox="0 0 31 23" fill="none" xmlns="http://www.w3.org/2000/svg"> <path d="M1 11.3571H30M30 11.3571L19.6429 1M30 11.3571L19.6429 21.7143" stroke="#793690" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" /> </svg> </button> </form> </div> </div> </nav> </div>  <button id="mobile-menu-button" title="Mobile Menu Button"> <span class="lines"> <span class="line"></span> <span class="line"></span> <span class="line"></span> <span class="line"></span> </span> <span class="text">Menu</span> </button> </div>  <div id="menu-bg"></div> </header>  <div id="page-wrapper">  <div id="modules-container" role="main">   <section class="page-content-container grid-outer "> <article class="page-content grid x-fade">  <div class="text-block"> <h1>Base metals</h1> <p>Marex provides unrivalled access to global metals exchanges, intelligence and analysis.</p> <p>Marex provides 24-hour global market access exchange-traded derivatives, off-exchange products, and market making services. A category 1 member of the London Metal Exchange (LME), Marex also has membership of all major metals exchanges.</p> <p>Our long history in the sector means we can provide unrivalled historical data as well as a wide range of daily, weekly and end of day reports, delivered via Neon Insights and our licenced data services.</p> </div> </article> </section> <section class="info-block-module-container grid-outer section-tags"> <article class="info-block-module grid x-fade"> <p>Our base and non-ferrous metals desks operate across: </p> <ul class="tags"> <li>Alloy </li> <li>Aluminium </li> <li>Cobalt </li> <li>Copper </li> <li> Molybdenum </li> <li>NASAAC </li> <li>Nickel </li> <li>Tin </li> <li>Zinc </li> </ul> </article> </section>  <section class="page-content-container grid-outer"> <article class="page-content grid">  <div class="columns same-height">  <div class="col one-half x-fade"> <h2>Recycled metals</h2> <p>Tangent Trading, a division of Marex, specialises in trading non-ferrous recycled metals, with a focus on copper and aluminium markets.</p> <p>A long-term member of the London Metal Exchange, Tangent Trading has a network of customers and suppliers across Asia, Europe and North America.</p> <p> <a class="new-button border white" href="http://tangenttrading.co.uk/" target="_blank" rel="noreferrer"><br /> Visit the Tangent Trading site <img decoding="async" src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/icons/buttons/icon-external-link.svg" alt="icon"> </a></p> </div>  <div class="col one-half x-fade"> <h2>Nanolytics®</h2> <p>Widely used across non-ferrous metals our in-house analytics tools include hot rolled, recycled and rebar steel, coking coal and iron ore.</p> <p>Marex’s LME speculative positioning report is widely read across the base metals sector. The service covers the LME carry market and, in a joint venture with Earth-I, has developed SAVANT, a satellite-image analysis product focused on ‘real-time’ fundamental measures of supply and demand.</p> <p> <a class="new-button border white" href="/technology/nanolytics/" ><br /> Learn more about Nanolytics <img decoding="async" src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/icons/buttons/icon-external-link.svg" alt="icon"> </a></p> </div> </div> </article> </section>  <section class="insights-module-container grid-outer"> <article class="insights-module grid"> <h2 class="x-fade">Today's insights</h2>  <div class="items hide-items">  <a href="https://app.neon.markets/insights/browse/article/67445df1374324305b050f4b" class="item x-fade" target="_blank" aria-label="Read more of this article" aria-label="Read more">  <div class="item-inner">  <span class="tag">Metals</span> <h3>LME Morning Thoughts 25 Nov 2024</h3> <p>Prices benefitting from the currency moves with our space having gotten sold out somewhat amid recent dollar strength. Ali rallies following Rusal production cuts into producer offer. Zinc also from power story. Stocks drawing onshore.</p> </div>  <span class="button read-more">Read more of this article <img src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/icons/buttons/icon-external-link.svg" alt="External Link Icon" /></span> </a>  <a href="https://app.neon.markets/insights/browse/article/6744345e3743247b84050f25" class="item x-fade" target="_blank" aria-label="Read more of this article" aria-label="Read more">  <div class="item-inner">  <span class="tag">Metals</span> <h3>Marex Weekly Spec Position and Nanolytics Analysis</h3> <p>As for the nanolytics data, into cob Friday, ali, nickel and zinc seeing a bearish profile. Then copper and lead noted mixed signals.</p> </div>  <span class="button read-more">Read more of this article <img src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/icons/buttons/icon-external-link.svg" alt="External Link Icon" /></span> </a>  <a href="https://app.neon.markets/insights/browse/article/6743764805721a3d13394b9d" class="item x-fade" target="_blank" aria-label="Read more of this article" aria-label="Read more">  <div class="item-inner">  <span class="tag">Metals</span> <h3>LME Weekly Update 24 Nov 2024</h3> <p>Dollar and trade headwinds remain. Our space seeing an absence of any real risk appetite ahead of Thanksgiving. But onshore inventory draws and with much cleaner positioning, tightening spreads and higher input costs, these all raising pricing floors</p> </div>  <span class="button read-more">Read more of this article <img src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/icons/buttons/icon-external-link.svg" alt="External Link Icon" /></span> </a> </div> </article> </section> <section class="contacts-module-container grid-outer"> <article class="contacts-module grid"> <h2 class="x-fade">Get in touch</h2>  <div class="contacts"> <div class="team-cards"> <div class="contact x-fade"> <div class="contact-inner"> <div class="info"> <div class="info-inner"> <h3>Christian Lusted</h3> <p>Head of Institutional Sales - Metals</p> <div class="buttons"> <a href="mailto:clusted@marex.com " target="_blank" class="button border email">Email <img src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/icons/buttons/icon-email-link.svg" alt="Email Link Icon" /></a> <a href="tel:+44 (0)207 377 5420 " target="_blank" class="button border phone">+44 (0)207 377 5420 <img src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/icons/buttons/icon-phone.svg" alt="Phone Link Icon" /></a> </div> </div> </div> </div> </div> <div class="contact x-fade"> <div class="contact-inner"> <div class="info"> <div class="info-inner"> <h3>Tangent Trading</h3> <p>Recycled metal specialists with over 35 years of experience. </p> <div class="buttons"> <a href="mailto:traders@tangenttrading.co.uk" target="_blank" class="button border email">Email <img src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/icons/buttons/icon-email-link.svg" alt="Email Link Icon" /></a> </div> </div> </div> </div> </div> </div> </div> </article> </section> </div>  <footer id="footer" class="grid-outer"> <div class="footer-inner grid">  <a href="https://www.marex.com" id="footer-logo" title="Marex"> <img src="https://www.marex.com/wp-content/themes/marex-2024/assets/img/logo.svg" alt="Marex Logo"> </a>  <nav class="footer-nav" role="navigation" aria-label="Footer Main Navigation">  <ul class="footer-menu"> <li id="menu-item-1905" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-home menu-item-has-children columns- alignment- menu-item-1905"><a href="https://www.marex.com/">Home</a> <ul class="sub-menu"> <li id="menu-item-5016" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-5016"><a href="https://www.marex.com/modern-slavery-statement/">Modern slavery statement</a></li> <li id="menu-item-5017" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-privacy-policy columns- alignment- menu-item-5017"><a rel="privacy-policy" href="https://www.marex.com/privacy-policy/">Privacy policy</a></li> <li id="menu-item-5018" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-5018"><a href="https://www.marex.com/terms-of-use/">Terms of use</a></li> <li id="menu-item-5019" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-5019"><a href="https://www.marex.com/services-terms-and-conditions/">Services T&C</a></li> <li id="menu-item-5020" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-5020"><a href="https://www.marex.com/cookie-policy/">Cookie policy</a></li> </ul> </li> <li id="menu-item-1907" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children columns- alignment- menu-item-1907"><a href="https://www.marex.com/services/">Services</a> <ul class="sub-menu"> <li id="menu-item-4369" class="menu-item menu-item-type-post_type menu-item-object-service columns- alignment- menu-item-4369"><a href="https://www.marex.com/services/clearing/">Clearing</a></li> <li id="menu-item-1912" class="menu-item menu-item-type-post_type menu-item-object-service columns- alignment- menu-item-1912"><a href="https://www.marex.com/services/market-making/">Market making</a></li> <li id="menu-item-4368" class="menu-item menu-item-type-post_type menu-item-object-service columns- alignment- menu-item-4368"><a href="https://www.marex.com/services/execution/">Agency and execution</a></li> <li id="menu-item-1914" class="menu-item menu-item-type-post_type menu-item-object-service columns- alignment- menu-item-1914"><a href="https://www.marex.com/services/hedging-investment-solutions/">Hedging and investment solutions</a></li> </ul> </li> <li id="menu-item-1908" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children columns- alignment- menu-item-1908"><a href="https://www.marex.com/markets/">Markets</a> <ul class="sub-menu"> <li id="menu-item-1916" class="menu-item menu-item-type-post_type menu-item-object-market columns- alignment- menu-item-1916"><a href="https://www.marex.com/markets/agriculture/">Agriculture</a></li> <li id="menu-item-1917" class="menu-item menu-item-type-post_type menu-item-object-market columns- alignment- menu-item-1917"><a href="https://www.marex.com/markets/energy/">Energy</a></li> <li id="menu-item-1919" class="menu-item menu-item-type-post_type menu-item-object-market columns- alignment- menu-item-1919"><a href="https://www.marex.com/markets/environmental/">Environmental</a></li> <li id="menu-item-1920" class="menu-item menu-item-type-post_type menu-item-object-market current-market-ancestor columns- alignment- menu-item-1920"><a href="https://www.marex.com/markets/metals/">Metals</a></li> <li id="menu-item-1921" class="menu-item menu-item-type-post_type menu-item-object-market columns- alignment- menu-item-1921"><a href="https://www.marex.com/markets/capital-markets/">Capital markets</a></li> </ul> </li> <li id="menu-item-1910" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-1910"><a href="https://www.marex.com/technology/">Technology</a></li> <li id="menu-item-5482" class="menu-item menu-item-type-custom menu-item-object-custom columns- alignment- menu-item-5482"><a href="https://ir.marex.com/">Investors</a></li> <li id="menu-item-1906" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children columns- alignment- menu-item-1906"><a href="https://www.marex.com/about-us/">About us</a> <ul class="sub-menu"> <li id="menu-item-5475" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-5475"><a href="https://www.marex.com/about-us/">About us</a></li> <li id="menu-item-1929" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-1929"><a href="https://www.marex.com/about-us/the-team/">The team</a></li> <li id="menu-item-1928" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-1928"><a href="https://www.marex.com/about-us/the-group/">Group companies</a></li> <li id="menu-item-1924" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-1924"><a href="https://www.marex.com/about-us/sustainability/">Sustainability</a></li> <li id="menu-item-4376" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-4376"><a href="https://www.marex.com/about-us/regulatory/">Regulatory</a></li> </ul> </li> <li id="menu-item-5476" class="menu-item menu-item-type-post_type menu-item-object-page current_page_parent columns- alignment- menu-item-5476"><a href="https://www.marex.com/news/">Newsroom</a></li> <li id="menu-item-1911" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children columns- alignment- menu-item-1911"><a href="https://www.marex.com/careers/">Careers</a> <ul class="sub-menu"> <li id="menu-item-5472" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-5472"><a href="https://www.marex.com/careers/">Careers</a></li> <li id="menu-item-5287" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-5287"><a href="https://www.marex.com/careers/student-graduate-careers/">Student and graduate careers</a></li> <li id="menu-item-5473" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-5473"><a href="https://www.marex.com/careers/career-opportunities/">Career opportunities</a></li> <li id="menu-item-1926" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-1926"><a href="https://www.marex.com/careers/our-values/">Our values</a></li> </ul> </li> <li id="menu-item-1909" class="menu-item menu-item-type-post_type menu-item-object-page columns- alignment- menu-item-1909"><a href="https://www.marex.com/contact-us/">Contact us</a></li> </ul> </nav> </div> </footer> </div> </div> <div class="u-alerts"> </div> </body> </html>

CINXE.COM

Base metals - Marex