Modern CTRM for UK Metals Trading
For a UK desk the LME is a domestic exchange, not a foreign one. Novaex brings LME-centric pricing intelligence, UK delivered-cost tracking and sterling reporting against dollar-denominated contracts to metals traders, producers and manufacturers across Britain.
What Makes UK Metals Trading Different
A UK metals desk sits closer to the price than almost anyone else — the LME is a London market — and yet carries two complications at once. Contracts settle in dollars while the business reports in sterling, so FX rides on every hedge. And since the UK left the EU customs union, duty status became a distinct component of delivered cost rather than an assumption. Spreadsheets tend to collapse all three into a single number, which is exactly where margin goes missing.
Built for UK Trading Operations
The LME As A Domestic Market
London is where base metals price. Novaex is built around the LME rather than treating it as an overseas feed — real-time pricing across cash, 3-month and prompt-date structures, with carry spreads and the forward curve in one view.
Sterling Reporting, Dollar Contracts
LME contracts are denominated in US dollars, so a sterling-reporting desk carries FX exposure on every hedge leg. Novaex separates the currency component of P&L from the metal component, so you can see which moved.
UK Delivered Cost, Not Just Exchange Price
Duty-paid and duty-unpaid premiums, CIF UK port indicators and conversion premiums by product form, tracked alongside the base price. With the UK outside the EU customs union, duty status is a distinct input into delivered cost.
Audit-Ready By Design
Immutable audit trails and on-demand reporting, so your own regulatory and internal-control obligations are straightforward to evidence. Every position-level event is captured with a timestamp and user attribution.
Why UK Firms Choose Novaex
LME depth, true delivered cost, and sterling clarity on dollar-denominated positions.
LME Depth
Purpose-built for LME-centric trading, with the contract structures a London desk works in daily.
True Delivered Cost
Premiums and duty status tracked alongside the exchange price, so the number you see is the number you pay.
FX And Metal, Separated
Physical, financial and currency exposures in one position view, with the sterling effect isolated.
Evidence On Demand
Reports auditors and counterparties ask for, generated in minutes rather than assembled by hand.
Where else we operate
Novaex serves base-metals teams across these regional markets — each with its own exchange, currency and supplier patterns.
India Commodity Trading
Integrated MCX and LME pricing, INR-denominated analytics and audit-ready reporting for Indian desks.
Southeast Asia Metals
ASEAN base-metals trading with SHFE-led pricing signals and multi-currency exposure.
Middle East Metals Trading
GCC smelter and trading hub coverage with multi-currency analytics for AED, SAR and USD desks.
EU LME Trading
EU desks with Rotterdam and CIF port premiums, EUR reporting and MiFID II readiness.
North America Metals Trading
US and Canadian desks with Midwest Premium, tariff exposure and USD/CAD reporting.
Frequently Asked Questions
Modern CTRM for UK Metals
Get LME-centric pricing intelligence, UK delivered-cost tracking and sterling reporting for your metals operations.