Robert Fig joined the LME in 2011 and is Head of Physical Market Sales. He comes with 30 years experience in the commodity markets. From post-graduate studies in South Africa, he moved into mining and agricultural commodity research, then into a base metal marketing capacity at a number of institutions, most notably Scotia Capital. In 2004 working for Mittal Steel and later ArcelorMittal, he set up, centralised and ran their commodity risk management operation. Robert has been consulted by various global, regional and academic institutions on commodity risk management. He now adds the LME to a most interesting career.
Need to know
The London Metal Exchange is the world centre for industrial metals trading. Most of the world’s non-ferrous metals business is conducted on our three trading platforms: LMEselect (electronic), the Ring (open outcry) and the 24-hour telephone market.
The global metals community uses the LME to trade futures and options to hedge against adverse price movements – prices which are discovered on our markets and used as global references.
In 2017, 157 million lots were traded at the LME equating to $12.7 trillion and 3.5 billion tonnes notional with a market open interest (MOI) high of 2.4 million lots.
In December 2017, approximately 2.2 million tonnes of material were held on LME warrant in more than 550 storage facilities in 14 countries across 34 locations globally.
Participants can transfer or take on price risk against aluminium, copper, nickel, tin, zinc, lead, molybdenum, cobalt, steel scrap and rebar, aluminium premiums and alloys, as well as our suite of new gold and silver contracts, LMEprecious.
A member of HKEX Group, the LME also provides benchmark administration services to the platinum group metals community.