Metals Trader in London

The Base Metals Trading team in London plays a key role in Macquarie’s global commodities platform. The desk is active across both financial and physical base metals markets, trading a broad range of instruments including options, futures, and related contracts. We operate in a collaborative and entrepreneurial environment, applying fundamental, quantitative, and technical analysis to identify and support trading opportunities. The team is focused on delivering strong risk adjusted returns while continuing to grow Macquarie’s presence in global base metals markets.

As a Base Metals Trading Associate, you will support trading activity across financial and physical markets, contributing to the execution of opportunities in options, futures, and OTC products. You will work closely with senior traders to analyse market fundamentals, price trends, and volatility, while assisting in trade execution and monitoring positions, risk, and P&L throughout the trade lifecycle.

You will also play a key role in the build‑out of the physical metals business, helping bridge physical and derivatives trading through developing insight into supply chains, market flows, and client activity. The role offers hands‑on exposure to live trading, client engagement, and business development, with increasing responsibility as the platform grows.

What you offer:

• 2–4 years’ experience in base metals, commodities trading, or a related role
• Demonstrated interest and/or experience in physical business development, including identifying and originating opportunities across supply chains
• Proven ability or strong potential to manage client interactions in physical markets, building and developing commercial relationships
• Clear understanding of market mechanics across exchanges and physical supply chains, and how physical flows drive pricing and liquidity
• Strong grasp of derivatives (futures, options) with the ability to link financial instruments to underlying physical market activity
• Solid base metals fundamentals, with a focus on real‑world supply/demand dynamics and trade flows
• Commercially minded and proactive, with a strong desire to develop within physically driven trading environments
• Strong analytical, communication, and technical skills (Excel, Bloomberg), particularly in client‑facing and market‑driven contexts

What we offer:

• 1 wellbeing leave day per year and a minimum of 25 days of annual leave
• 26 weeks’ paid parental leave for primary caregivers along with 12 days of paid transition leave upon return to work and 6 weeks’ paid leave for secondary caregivers
• Paid fertility leave for those undergoing or supporting fertility treatment
• 2 days of paid volunteer leave and donation matching
• Access to a wide range of salary sacrificing options
• Benefits and initiatives to support your physical, mental and financial wellbeing including comprehensive medical and life insurance cover
• Access to our Employee Assistance Program, a robust behavioural health network with counselling and coaching services
• Access to a wide range of learning and development opportunities, including reimbursement for professional membership or subscription
• Access to company funded emergency and backup dependent care services
• Recognition and service awards
• Hybrid and flexible working arrangements, dependent on role
• Reimbursement for work from home equipment

We are committed to providing a working environment that embraces diversity, equity, and inclusion. We encourage people from all backgrounds to apply regardless of their identity, including age, disability, neurodiversity, gender (including gender identity or expression), sexual orientation, marriage or civil partnership, pregnancy, parental status, race (including ethnic or national origin), religion or belief, or socio‑economic background. We welcome further discussions on how you can feel included and belong at Macquarie as you progress through our recruitment process.

Our aim is to provide reasonable adjustments to individuals as required during the recruitment process and in the course of employment. If you require additional assistance, please let us know during the application process.