11:45
Aluminum Hedging 101
Description:
PART 1: Introductory Concepts -The “Why?” of Hedging -The Basic Practices -Facilities (trading venues) -Futures vs OTC Markets, Margins and Credit -Understanding your Risks
PART 2: The Unique World of the London Metal Exchange -a brief history -key features/unique aspects of the exchange -the LME trading day and terminology -connecting to the physical world
Part 3: Application of Concepts -case studies -forwards, averaging, options -Conclusions
Spencer Johnson
Head of Ferrous Training
StoneX Financial Inc.
Spencer Johnson is a 16 year veteran in the world of ferrous and nonferrous futures, all of them with StoneX (formerly FCStone Financial Inc.) During this time StoneX has helped launch and clear some of the first trades in several of the contacts now common to the ferrous industry. Over that time StoneX has worked with every type of market participant to formulate risk management and trading strategies for steel and base metals derivatives. Spencer has also worked tirelessly to grow liquidity and provide access to these new ferrous markets for its clients as currently, the longest serving members of the London Metal Exchange’s steel committee.
Jacob Blood
Director – Commodity Execution & Risk Analytics
StoneX Group Inc.
Jacob Blood joined StoneX in 2019 and has experience in commodity markets working closely with StoneX Commercial, and Industrial Customers to manage and execute hedge programs. These hedge programs vary across commodities, horizons, and hedge methodologies and his experience in trade execution spans both physical and financial markets. Jake also leads hedge program reporting and benchmarking via StoneX's Know-Risk™ software platform to ensure organization-specific hedge objectives are met and strategies are refined accordingly. Jake holds a BA in Economics with a minor in Business from the University of Illinois at Urbana-Champaign.
Lucian Zebrowski
Base Metals Analyst
StoneX Group Inc.
Lucian Zebrowski joined StoneX in 2025 and works with the Corporate Base Metals team in NY. He covers the entirety of the base & battery metal complex, with a primary focus on aluminum markets dealing in LME and regional premiums. Lucian assists a variety of clients spanning from recyclers to end users in developing and executing financial hedge programs. Lucian holds a BS in Finance from Binghamton University.