Authorised & Regulated by the FCAFRN 606298 +44 (0)20 0000 0000enquiries@fcma-consultancy.co.uk
The Markets

Hedging facilities across four core metal markets.

Each programme is calibrated to the client's underlying physical exposure, currency of cost-base and accounting policy. Forwards, futures and options structures available, subject to suitability assessment.

Gold · XAU/USD
$2,418.60
+0.42% · Spot Reference
Silver · XAG/USD
$28.94
+0.71% · Spot Reference
Copper · LME 3M
$9,612
+0.18% · Per Tonne
Nickel · LME 3M
$17,840
−0.29% · Per Tonne
Au
XAU · LBMA Loco London · Atomic No. 79
Gold

The precious reserve.

Hedging programmes for refiners, jewellery wholesalers, recyclers and treasury teams holding investment-grade reserves. LBMA Loco London pricing with bespoke delivery, settlement and accounting profiles.

  • ·
    Pricing Reference

    LBMA AM/PM benchmark, intraday spot, EFP-linked execution. Loco London standard with optional Loco Zurich, Singapore or New York delivery.

  • ·
    Typical Structures

    Outright forwards, layered forwards aligned to refining schedule, collar option strategies, gold-price-linked metal accounts.

  • ·
    Common Use Cases

    Refining margin protection, jewellery inventory hedging, treasury reserve management, scrap-to-bar delivery hedging.

Silver

The industrial precious metal.

Coverage for the dual-character silver market — supply chains spanning solar manufacturing, electronics, medical applications, photographic and bullion. Forward and option overlays for inventory and forecasted purchase exposure.

  • ·
    Pricing Reference

    LBMA Silver Price (noon fix), spot XAG/USD, COMEX-linked execution. Granularity to 1,000oz lot equivalents and below.

  • ·
    Typical Structures

    Outright forwards, layered hedge programmes, vanilla and exotic option overlays, silver-linked working capital facilities.

  • ·
    Common Use Cases

    Solar panel manufacturer purchase hedging, electronics & battery contact paste hedging, medical device input cost overlay, jewellery wholesale.

Ag
XAG · Industrial & Investment · Atomic No. 47
Cu
LME · 3M & Dated Forwards · Atomic No. 29
Copper

The conductive backbone.

LME 3-month and dated forward hedging for cable manufacturers, EV supply chain participants, construction firms and renewable infrastructure clients exposed to one of the most economically sensitive base metals on the curve.

  • ·
    Pricing Reference

    LME Copper Grade A 3-month, daily official settlement, dated brass & cathode benchmarks. COMEX HG cross-reference available.

  • ·
    Typical Structures

    Forwards layered to physical procurement schedule, average-rate forwards, ratio collar overlays, basis hedges (LME vs. physical premium).

  • ·
    Common Use Cases

    Cable maker order-book hedging, construction project cost protection, EV harness manufacturer purchase overlay, recycling yard inventory hedging.

Nickel

The battery metal.

Class 1 nickel hedging for stainless steel producers, battery precursor manufacturers and integrated EV supply chain participants exposed to LME basis. We pay particular attention to the operational realities of post-2022 nickel market structure.

  • ·
    Pricing Reference

    LME Nickel 3-month and dated forwards, official settlement. Class 1 LME-deliverable focus, with sulphate & ferronickel basis advisory.

  • ·
    Typical Structures

    Outright forwards calibrated to plant draw schedule, layered hedge ladders, option floors, multi-metal basket overlays.

  • ·
    Common Use Cases

    Stainless mill input cost protection, battery precursor manufacturer hedge programmes, EV supply chain inventory hedging, scrap merchant exposure.

Ni
LME · Class 1 Reference · Atomic No. 28
Cross-Metal Capabilities

Beyond single‐metal facilities — multi‐metal overlays.

For clients with structurally correlated exposure across multiple metals — battery manufacturers, mixed-product fabricators, multi-line producers — FCMA can construct basket hedge programmes that capture cross-metal correlation rather than treating each metal in isolation.

i.

Basket Hedges

Weighted multi-metal forwards calibrated to a client's specific input mix, executed as a single facility with consolidated reporting.

ii.

Currency Overlay

USD-denominated metal exposure overlaid with GBP, EUR or other home-currency forwards to deliver clean cost-base certainty.

iii.

Option Programmes

Vanilla and structured option overlays where directional certainty is unavailable but downside protection is required for governance reasons.

Begin a Programme

Discuss your specific exposure.

Every metals account is bespoke. Initial enquiries are handled by our onboarding desk under strict confidentiality.

Begin a confidential consultation