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(DAILY MAIL) London Metal Exchange to train Zambians

London Metal Exchange to train Zambians
By KALONDE NYATI

AN expert from the London Metal Exchange (LME) is in the country to conduct training on the operations of the LME and its relevance to Zambia as a copper producing country.

LME head of education and marketing Catherine Markey said there is need for various stakeholders in Zambia to acquaint themselves on the pricing of the copper the country produces.

Ms Markey said this in an interview on the sidelines of the two-day training workshop, which is being held in conjunction with a local financial advisory and asset management firm, Integral Initiatives limited.
“Zambia plays a critical role on the LME as producer of copper and other metals so there is need for stakeholders to be familiar with the operations and the pricing of the commodities,” she said.
She said there is need for Zambian stakeholders to have knowledge on how they can use the LME price, especially for hedging purposes.
Ms Markey said Zambia, being a producer of copper needs some certainty on the price of the commodity. She added that prices have in the recent past been high and this gives producers an opportunity to fix the forward price.
“Prices have been higher than the production cost in the recent past and this gives opportunity for producers to fix the forward price rather than sitting quietly while prices fall back,” she said.
She also said the LME exchange has this year recorded 20 percent growth in trade volumes compared to about seven percent recorded between 2009 and 2010.
This is mainly due to increased transparency and regulation in trading at the exchange.
And Integral Initiatives managing director Charles Mpundu said there is need for people to have a broader understanding on issues of commodity pricing.
The training will cover trading on the LME, contract settlement, the role of brokers, market data and fundamental analysis, hedging and using futures and options.

Labels: COPPER, LONDON METAL EXCHANGE, ROBERT SICHINGA

posted by MrK @ 3:37 PM