LME – London Metal Exchange and Digital Transformation

Event confirmation, check.

Hotel and tickets reservation, check.

Appointment with current and potential customers, check.

Black tie/gala dress, check. 

These are some elements of the checklist that every conference participant must do before attending one. 

Here are some facts about attending events or congresses:

  • Important opportunity to network with current clients and generate links with potential clients, becoming better known as a company.
  • Ease of negotiation with clients.
  • Multiculturalism. It is possible (and necessary) to learn more about the different cultures in the world and how to interact with them.
group of executives assisting an event or congress
Source: RJS Maynes Virtual Services

October is approaching, which includes the most important event of the year in terms of metals: The London Metal Exchange (LME) Week. The objetive of this event is not to fix prices. What is given is an overview of the fundamentals of each industrial metal globally, and the financial positions to estimate future prices. This week provides an opportunity for people from companies belonging to different international industries to meet.

Due to world circumstances, it is regrettable that this year’s LME Week had to be cancelled. Several other organizations in charge of vital events have postponed or cancelled previously planned conferences.

It is a reality that for the moment it is not going to be possible for the organizers to carry out these events in a face-to-face way, so it is necessary to adapt to the changes that this new stage brings. 

These are some of the advantages of online events or digital congresses:

  • Logistics. It does not require much logistic planning in advance, compared to its face-to-face counterpart.
  • Economic savings. It is not necessary to spend on tickets or accommodation, only on the cost of participation in the event, if any.
  • Better time management. Efficiency in the meetings.
  • Digital adaptation. It will be necessary to use different digital tools in order to be able to participate in the various activities planned.
online event via videoconference
Source: Shutterstock

Based on the reasons presented above, we dedicate this blog entry to the most important events of the London Metal Exchange and how they will be held in the following months.

London Metal Exchange (LME)

According to its official website, the London Metal Exchange, founded in 1877, is the world’s centre for trading in industrial metals, with most of the future non-ferrous metals business passing through its platforms.

A member of the HKEX Group, the LME brings together participants from the physical industry and the financial community. These two groups work together to form a robust and regulated market with the objective of always having a buyer and a seller, where there is always a price and the possibility of transferring or assuming risk, 24 hours a day.

Among the different events that it organizes, the one that stands out the most would be the LME Week. During this period of time, different activities are carried out, where topics of interest for the industry are discussed. This gives the opportunity to network with current and potential customers/suppliers, as well as the LME Dinner.

As we have mentioned before, the LME has had to cancel the programmed presential events, opting for a digital alternative. Dates have been set for different digital events or webinars within the week where the LME Week would take place.

Below we will provide the details of these events:

lme ring, where the metals' prices are fixed
Source: Finance Magnates

LME Metals Seminar

Considered the most important event within the LME Week, the LME Metals Seminar brings together high-profile industry speakers, hot topic panels and different perspectives from analysts in the “Metals Debate”. Additionally, this seminar will offer networking opportunities with industry colleagues via online.

  • Date: Monday, October 19, 2020
  • Registration: Coming soon
  • Panelists: Learn about confirmed panelists by clicking here.

London Metal Exchange Focus Day

This day is dedicated to the topics that need more in-depth attention. It will be coordinated with expert panelists on those topics to provide a more detailed view where required.

  • Date: Thursday, October 22nd
  • Registration: Not available at this time.

LME Education

In addition to events that bring together well-known personalities in the field, the LME offers education services to provide an opportunity for the financial and general metals communities to improve their understanding of the London Metal Exchange and the metals markets themselves. They have different levels, from basic to advanced, which can be reviewed in their course calendar.

It should be noted that these courses do not only take place during the week of 19-23 October. There are fixed dates per month, which are published on their website in advance.

an easy way to learn via online courses
Source: Henry Harvin

In addition to all these courses, the LME also offers lessons tailored to the needs of each company, known as Bespoke Courses.

Cocktails and Dinner Parties

In the LME Week different types of cocktails and dinners are held by traders, mining companies, refineries, banks and financial companies to their main clients.

Unfortunately, this is an aspect that will not be possible to adapt to the new digital format, so the organizers of these events lose an important opportunity to deepen ties with their customers.

This is an ideal moment for staff members who, for any other reason, have not participated in the LME Week before, thus opening up the possibilities for even more people and companies who are not able to partake in these activities. 

london metal exchange lme main entrance plaque
Source: Gov.UK

The New Normality

Finally, the LME represents an example of application of digital transformation in the time we are going through. It has provided facilities to its attendees with the intention of emulating the same experience that one obtains when physically participating in the most important event of the year in the metal industry.

It is necessary to emphasize how this historical event has changed the way in which B2B companies relate to each other, giving way to this new normal and making possible what was not considered as such before.

We hope that the information provided has been to your liking. In case you have any doubts or queries, we will be happy to answer them in the comments.

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