Physical Base Metals Trader

A leading global commodities trading house is looking to expand its London metals business through the appointment of an experienced Base Metals Trader.

Based in London, the successful candidate will join an established metals platform, taking responsibility for trading and managing risk across LME base metals, alongside supporting the firm's broader physical trading activity.

Responsibilities
Trade across base metals, with a focus on LME markets.
Manage proprietary risk and deliver consistent trading P&L within agreed limits.
Execute and manage hedging strategies against physical metals exposure.
Trade futures, options, swaps, spreads and other LME derivatives.
Identify directional, relative-value, arbitrage, spread and volatility-driven opportunities.
Monitor physical supply and demand, inventories, premiums, positioning and global trade flows.
Work closely with physical traders to optimise risk, hedging and overall book performance.
Identify opportunities between physical and derivatives markets.
Develop trading strategies around curve structure, regional dislocations and fundamental market developments.
Maintain disciplined risk management and operate within the firm's trading and compliance framework.
Requirements
Proven experience trading base metals within a leading trading house, investment bank, hedge fund or brokerage.
Strong knowledge of LME base metals and derivatives markets.
Experience trading futures, options, swaps and spreads.
Strong understanding of physical metals markets and their relationship with derivatives.
Demonstrable track record of P&L generation and risk management.
Strong understanding of supply/demand fundamentals, inventories, premiums and global metals flows.
Experience managing or hedging physical commodity exposure would be highly advantageous.
Commercial, analytical and comfortable taking risk in fast-moving markets.
Ability to work closely with physical traders, analysts and senior management.
Eligible to work in the UK or able to obtain the appropriate right to work.
The Opportunity

This is an opportunity to join an established global physical commodities trading business and play a key role in the continued growth of its base metals trading platform.

The role would suit a commercially driven Base Metals Trader who combines strong LME derivatives expertise with a genuine understanding of physical metals markets, and who is comfortable managing risk, identifying trading opportunities and taking direct responsibility for P&L.

Location: London

Main change: I've made this much more trading-house focused by removing the institutional/corporate client-flow and Sales/Structuring language, while strengthening the emphasis on physical exposure, hedging, arbitrage, fundamentals and proprietary P&L.