The commodities super cycle of the second half of the years 2000s has ended, as well as the wrong concept of ‘financialization’.
Commodities have returned to their specificities, as well as the three subclasses. Energy prices, crude oil in particular, have experienced in the last 8 months an amazing volatility and very large price moves. Metal prices have declined in general, with some activity in gold in relation to the dollar moves in particular. For all commodities, spot price volatility is a source of concern both for producers and consumers and a source of profits for trading funds.
This 2-day course will carefully look at the distinct properties of shipping markets versus coal, copper versus platinum, the different sources of electricity in Germany and Europe; analyze in depth the financial instruments; the issues of delivery at maturity in a perspective of risk- management for consumers of raw materials; the investment opportunities going forward in the world of commodities. Specific examples of hedging jet fuel by airline companies and trading spreads in crude oil as well as oil refined products in ‘market neutral’ strategies.
All delegates will receive a copy of Professor Geman's book, "Commodities and Commodity Derivatives: Modelling and Pricing for Agriculturals, Metals and Energy".
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