Commodity Market Trading and Investment A Practitioners Guide to the

This book offers practical knowledge, analysis, trading techniques and methodologies required for the management of key international commodities. The author explores each aspect of commodity trading in detail and helps the reader to implement effective t

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TOM JAMES

GLOBAL FINANCIAL MARKETS

Global Financial Markets

Global Financial Markets is a series of practical guides to the latest financial market tools, techniques and strategies. Written for practitioners across a range of disciplines it provides comprehensive but practical coverage of key topics in finance covering strategy, markets, financial products, tools and techniques and their implementation. This series will appeal to a broad readership, from new entrants to experienced practitioners across the financial services industry, including areas such as institutional investment; financial derivatives; investment strategy; private banking; risk management; corporate finance and M&A, financial accounting and governance, and many more. More information about this series at http://www.springer.com/series/15011

Tom James

Commodity Market Trading and Investment A Practitioners Guide to the Markets

Tom James Navitas Resources Group Navitas Resources Pte Ltd & NR Capital Pte Ltd 19th Floor, Royal Group Building, 3 Philip Street, Singapore, 048693 Singapore

Global Financial Markets ISBN 978-1-137-43280-3    ISBN 978-1-137-43281-0 (eBook) DOI 10.1057/978-1-137-43281-0 Library of Congress Control Number: 2016958281 © The Editor(s) (if applicable) and The Author(s) 2016 The author(s) has/have asserted their right(s) to be identified as the author(s) of this work in accordance with the Copyright, Designs and Patents Act 1988. This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Macmillan Publishers Ltd. The registered company address is: The Campus, 4 Crinan Street, London, N1 9XW, United Kingdom

I would like to dedicate this book to all my family and friends around the world and I would like to give a special thanks to al