Physical Metals
Professional calculators for physical commodity trading — with deep coverage of copper and cobalt.
Every model sourced. Every figure traceable. The valuation logic used by trading desks, as live web calculators you can audit line by line.
What the tools do
The economics of a cargo, from mine gate to invoice.
Compute Net Smelter Return on a copper concentrate. Model the payable percentage on a shipment of cobalt hydroxide. Layer in freight, duties, financing and demurrage to reach a landed cost. Compare Incoterms. Consolidate a book. Understand contango, backwardation, the hedge roll and quotational period risk. Every assumption is a cell you can override.
Who it's for
Anyone who has to defend the number in front of them.
- —Junior analysts at trading desks and mining companies
- —Students entering commodities and mining finance
- —Small producers, brokers and consultants without a quant team
- —Lawyers, bankers and equity analysts sanity-checking economics
Seven Models
The full toolkit.
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Copper NSR Calculator
Net Smelter Return for copper concentrate against LME with TC/RC, penalties, and payable curves.
Cobalt Hydroxide Payable Calculator
Payable percentage against MB standard-grade cobalt, with grade brackets and impurity deductions.
Freight & Landed Cost
Ocean freight, inland, insurance, duties and financing rolled into a single landed-cost figure.
Incoterms 2020 Selector
Compare FCA, FOB, CIF, CFR and DAP side by side on risk transfer, cost split, and cash cycle.
Trade-Off & Decision Model
See the full economics of a physical trade — breakeven, margin, cost of waiting, and risk vs reward around a sale price you set.
Consolidated Trade P&L
Aggregate cargo, hedge, financing and demurrage into a single mark-to-market and realised P&L.
Markets & Decisions Toolkit
Contango vs backwardation, hedge rolls, QP risk, and demurrage — the mechanics behind the numbers.
Notes
Occasional notes on concentrate markets, TC/RC negotiations and cobalt payables.
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