New Video! "Understanding the LME": BIR Academy video demystifies the global metal benchmark
The Bureau of International Recycling (BIR) is pleased to unveil “Understanding the LME” - the latest instalment of its BIR Academy "More Knowledge Together" video series. This is part of a flagship initiative designed to share industry knowledge, deepen understanding of complex market and policy issues, and support the next generation of recycling professionals worldwide.
Whilst the LME is the heartbeat of industrial metal pricing, its inner workings can often seem opaque. The Academy video examines the most important functions of the LME, risk management, hedging strategies, trading opportunities and other processes as well as the history of metals trading. This video is designed to strip away the complexity, offering a simplified, clear look at how the Exchange functions and why it is indispensable to recyclers’ businesses.
Last year, the LME traded 191 million lots, equating to US$21 trillion and 4 billion tonnes notional, with a market open interest high of 2.1 million lots.
The BIR Academy video will help demystify the workings of the LME by offering practical explanations and expert insights for recyclers operating in increasingly complex and volatile market conditions. In the video, BIR Academy Co-chair Murat Bayram speaks to key experts within the LME, including Christian Mildner (Head of Corporate Client Development), James Macdonald (Head of Trading Operations) and Yang Liu (Head of China Client Development).
BIR President Susie Burrage OBE comments: “Recyclers use the LME extensively for price discovery, trade and hedging. Whether it’s copper wiring, aluminium auto parts, or nickel from batteries, the LME is an invaluable reference for pricing and risk management. I am therefore incredibly pleased that the Academy’s first video was dedicated to this important institution, and I believe Caroline Craenhals and Murat Bayram have done a stellar job.”
As the global transition to green technology accelerates, the demand for metals like nickel, lithium, cobalt and copper will soon outpace mining capabilities. Recycled metals are the solution, filling the supply gap while drastically reducing carbon emissions and energy consumption. Understanding the LME is no longer just an advantage—it is a necessity for any recycler playing a role in the circular economy.
After this first video on the LME, the BIR Academy will be releasing more videos on other relevant topics on a rolling basis.