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Aluminium and Other Base Metals: Understanding Risk Management
and Hedging by Jorge Eduardo Dyszel

A beginner-level risk management course crafted by Jorge Eduardo Dyszel, one of the world's leading management consultants for base metals and a trainer for the London Metal Exchange (LME).

Focus: This course is tailored to help you navigate the complexities of the metal market, with a dual focus on the LME and the Shanghai Futures Exchange (SHFE).

  • Understanding the dynamics of commodity trading through LME and SHFE
  • Fundamentals of risk and types of risk
  • Hedging investments in the volatile metal market
  • Trading techniques
  • Building a comprehensive risk management plan

Duration 4 weeks (2 sessions/week)
Mode Online (Every week - Tuesday and Thursday) 7 to 8 pm (IST) | 3:30 to 4:40 pm (CEST)
Starts 26, August, 2025 | Ends: 18 September, 2025
Why should you attend the course?
  • Risk management 101
    Learn to safeguard investments from market volatility by understanding core concepts of risk and risk mitigation and building a strong risk management plan.
  • Practical hedging strategies
    Master real-world techniques used by professionals to manage hedging investments and navigate risk effectively.
  • Trading confidence
    Gain skills to minimise risks and make informed financial decisions with tested risk management strategies used by successful metal traders.
  • Hands-on learning
    Experience interactive sessions, case studies and practical insights tailored to commodity and metal trading.
  • A strong foundation
    Lay the groundwork for success in advanced financial risk management and LME aluminium trading.
Who is the course for?

Whether you're a beginner in the metals industry or a professional aiming to strengthen your expertise in metals futures, commodity trading and financial risk management, this course is tailored to suit your needs across departments.

Sales & Marketing Professionals
Finance Professionals
Metal Sourcing Professionals

What you will get at the end of the course:
  • 2-page summary/cheat sheet for quick reference during your trading journey
  • Risk management certification issued by AL Circle and Jorge
  • Exclusive access to Jorge's WhatsApp community for ongoing learning and networking
  • 90 days of streaming access to course recordings
  • 20% discount on Jorge's upcoming book

Course Structure

Session 1: The birth of hedging (1 hour) 

Date and Time:
26, August, 2025 7 to 8 pm (IST) | 3:30 to 4:40 pm (CEST)

Objective:
Understand the origins and basic principles of hedging.

Topics covered:
  • Introduction to hedging: The umbrella analogy
  • Origin of hedging and futures markets
  • Dynamics of today’s commodity futures markets
  • Market participants: Producers, Trading Companies, Speculators
  • Difference between Hedgers and Speculators


Session 2: Market dynamics and pricing (1 hour)

Date and Time:
28, August, 2025, 7 to 8 pm (IST)

Objective:
Explore the relationship between physical and futures markets.

Topics covered:
  • Relationship between futures and physical markets
  • Components of a physical contract: price and premium
  • Pricing a contract and premium structures
  • Building the total price of a transaction

Engagement:
Live Q&A, community interaction task

Session 1: Decoding the LME (1 hour)

Date and Time:
2 September 2025, 7 to 8 pm (IST)

Objective:
Understand the structure and mechanics of the London Metal Exchange.

Topics covered:
  • History of the LME and its global role
  • The 3 roles of the LME: Price Discovery, Hedging, Delivery
  • Role of brokers and clearing mechanisms (LME Clear)
  • Understanding margins and credit lines


Session 2: Price structures and market trends (1 hour)

Date and Time:
4 September 2025, 7 to 8 pm (IST)

Objective:
Analyze price discovery and market trends.

Topics covered:
  • Price structures: Contango, Backwardation, Flat Curves, Mixed Curves
  • How curve changes affect trading strategies
  • Practical analysis with graphs

Engagement:
Case study on market price structures

Session 1: Futures trading mechanics (1 hour)

Date and Time:
9 September 2025, 7 to 8 pm (IST)

Objective:
Grasp the mechanics of futures trading and order types.

Topics covered:
  • Establishing positions with futures
  • Cash vs physical settlement
  • Types of orders: Market, Limit, Stop, Combined, Official Price


Session 2: Options trading simplified (1 hour)

Date and Time:
11 September 2025, 7 to 8 pm (IST)

Objective:
Learn the fundamentals of options and their applications.

Topics covered:
  • Call and Put options explained
  • Components of options premium
  • Bought Call vs Bought Futures
  • Bought Put vs Sold Futures

Engagement:
Interactive activity on structuring basic hedge positions

Session 1: Practical hedging applications (1 hour)

Date and Time:
16 September 2025, 7 to 8 pm (IST)

Objective:
Apply hedging strategies to real-world scenarios.

Topics covered:
  • Hedging monthly QPs and uncertain QPs
  • Benefits and risks of hedging with options
  • Introduction to dynamic hedging


Session 2: Internal organisation and strategic models (1 hour)

Date and Time:
18 September 2025, 7 to 8 pm (IST)

Objective:
Understand the organisational structures supporting hedging.

Topics covered:
  • Internal hedging structures and risk committees
  • 7 key hedging questions every organisation must answer
  • Strategic inventory hedging

Engagement:
Final Q&A and group discussion

About Jorge Eduardo Dyszel


Jorge Eduardo Dyszel has built an illustrious career over four decades as a consultant in risk and risk mitigation, specialising in metals futures and the LME. With a CPA background from Buenos Aires, he has worked with global leaders like Aluar Aluminio Argentino and Glencore, developing impactful strategies for risk management for clients in over 15 countries across three continents.

As a renowned trainer for the LME, Jorge has educated countless professionals in commodity trading. He has contributed to institutions including ARZYZ Hedging School (Mexico), ALUAR Academy (Argentina) and RIBA FARRE Little School (Spain). His mission to strengthen education in risk management continues to influence professionals globally.


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