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Metals

Mining the wealth of metals

Get access to a precious metals bank and one of the largest precious metals operations in the world. We are one of the largest metals custodians, and the only over-the-counter (OTC) market maker with foundations in gold, silver, platinum and palladium.

Overview

Profit from one of the world's most heavily traded commodities with a globally connected, emerging markets-led bank. HSBC is integral to the precious metals market, facilitating and supporting the full range of transactions related.

Look to us to cover everything in the precious metals value chain – underground and above – from financing, exploration and development, to operations, reclamation, storage, and manufacturing, hedging, vaulting and leasing. Our teams in London, New York, Hong Kong and around the world can serve you in any precious metals market sector, including oil refining, petrochemicals, pharmaceuticals, glass, electronics and jewellery.

We offer a dedicated relationship manager for each of our clients; a globally knowledgeable local expert who provides you hedging expertise and customised financial solutions, and facilitates all other types of financial services from loans to cash management services.

Global markets primarily focus on gold, silver, platinum, palladium and rhodium, and secondarily on copper, aluminium, nickel, lead, zinc, tin, aluminium alloy and North American Special Aluminium Alloy Contract (NASAAC). Our relationship managers, financial advisers and precious metals experts combine market intelligence, global capability and regional experience to provide you optimal solutions for all of your precious metals needs.

Precious metals market intelligence

Our in-depth knowledge and core involvement in every stage of the precious metals value chain give us an edge, and our investors an advantage.

Enrich your decisions with the depth of our knowledge. Rest easy knowing that you are working with a market leader and emerging markets expert. Investors who work with our professionals have near-perfect information – perfect information being the situation in which a consumer knows everything there is to know about precious metal products, at all times – and therefore would be able to make the most informed decisions. HSBC creates near-perfect information in the form of a 'wide aperture view' across market supply and demand, with historical data as well as current and future market intelligence.

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Supply side intelligence

Find out about precious metals market supply, before you decide to invest. Factors such as the current volume of precious metals in circulation and existing asset supply such as vaulted metals are the drivers that directly impact spot and future prices. Our supply side intelligence can help you secure the best opportunities.

Validate market prices based on our up-to-date view of vaulted metals and metals in circulation. Understand future demand and anticipate fluctuations in price, or calculate risk exposures by relying on our visibility into future supply and sourcing. Our global knowledge of precious metals exploration, mining efforts, and even storage – as one of the main global vaults – can help you anticipate, measure and hedge price volatility based on current supply.

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Market demand intelligence

Stay informed about market demand for precious metals, both in the emerging markets and around the world. Speak to our professionals who have a broad-based understanding of current and future market demand to deliver timely assessments of global demand.

Highly adaptive to the world's changing economic centre of gravity, our international network affords you an unrivalled view of the global demand for precious metals.

Our knowledge of current market demand comes from our awareness of industrial and manufacturing corporations' precious metals usage patterns. We can provide you intelligence on precious metals market futures derived through our involvement in services such as hedging, long-term dealer-to-dealer OTC contracts, options liquidity, and knowledge of global interest rates against precious metals.

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Pricing intelligence

Knowledge of supply and demand automatically inform price. Our experts have historical knowledge of price fluctuations, and full visibility into adjacent market pressures such as global trade, FX and commodities, and their impact on precious metals valuation. We understand the correlation between global financial indicators and the price of precious metals.

Product and category intelligence

It's not just the role of precious metals in global financial markets that we have an in-depth knowledge of; we also know precious metals; ranging from end-to-end comprehension of mining and excavation practices to industrial usage.

We understand how precious metals needs vary across industries from manufacturers to hedge fund managers. For example, industrial and manufacturing clients are in the business of making a product without speculating on the value of a commodity such as precious metals; metal lending and leasing services help manufacturers use metal for production without investing in the asset. Financing and hedging tools help corporations mitigate market exposure and risk, and lock in margins.

The combination of supply-side, demand-side, pricing, and category intelligence that we provide highlights the advantage you can have by working with us for all of your precious metals needs. We provide companies that use precious metals, either as their inventory or as part of their fixed assets, various tools such as consignments forwards and options. You know if you're making a product that contains precious metals, that if the value of the metal drops during manufactory, your product margin is affected through no fault of your own. We're able to finance and hedge exposure; no matter what business you're in, we can help mitigate risk.

Our product and category intelligence spans across industries, whether manufacturing, lending or leasing, including:

  • Photography
  • Auto catalysts
  • Oil and gas
  • Mining companies
  • Smelters
  • Jewellery
  • Industrial
  • Chemical
  • Battery manufactory
  • Electronics
  • Glass
  • Hedge funds
  • Banks and financial enterprises
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Why HSBC for precious metals

You can be confident that you're supported by an industry leader, connected to an unprecedented network of people, markets and institutions worldwide. We are differentiated not only by our understanding of your business and by our focus on financing, but also by our leadership in the emerging markets.

Metals value chain

HSBC is integral to the following phases within the precious metals value chain.

  • Precious metals exploration, including asset management, investment and business management

    HSBC offers personal financial services for the 'explorer' who is on a mission to unearth precious metals. And we have the expertise and product offering to help with the exploration process; letters of credit to gain rights to land and mining tools, and access to funds for personal finances including asset and investment management. In addition, HSBC offers equity issuance, equity research coverage and house bank/banking services.

  • Development, including, mining financing and valuation

    We have extensive knowledge and expertise in mining. We understand the financial backing needed for complex scientific procedures and statistical analyses, which in turn helps you to understand the exact value of gold within a core of rock. We understand that development requires time for companies to quantify mining efforts before making the actual efforts to extract Dore.

  • Operations, including credit structuring, hedging, interest rate valuation, metal sales, capital markets and FX sales

    You can lease or borrow metal in physical form, through industry-specific dedicated metals trading desks, to use in manufacturing, or to put in a catalyst rather than buying it directly.

  • Reclamation, including trust services and reclamation/restoration financing

    Our letters of credit guarantee that you can gain access to land and perform the proper exploration, with the promise that the land will be restored. In addition we can provide payment facilitation, cash management and money-managed trusts.

  • Physical storage, vaulting and financing/credit, FX
  • Industrial manufacturing – physical metal sales, leasing, lending and distribution
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Competitively differentiated

A superior and differentiated offering: We are the single financial authority in global precious metals with leadership positions on over six of the world's bullion and precious metals exchanges.

Other investment and wealth management firms offer a limited collection of services in the same space and often rely on the services of third-party brokers and investment managers to fulfil a corporate order or financial service.

Our services are not limited to a selection similar to what all other banks offer. In the same way that any of our other product lines do, our precious metals franchise has something unique to offer you. Whether you are looking to purchase or borrow precious metals for use in industry, hedge risks or acquire financing, you can obtain a niche product which not many banks offer, and for which we are known as a market leader.

We are differentiated from our competitors by our ubiquity, our high level of adaptation to new economic forces and business trends, and our commitment to providing the best service for our customers. Competitors are differentiated from us, by the following limitations.

  • Limited expertise
    Few competitors have our level of presence on global precious metal and bullion exchange boards. We are a recognised and trusted leader in this space.
  • Limited services
    JPMorgan, Barclay's Bank and Standard Chartered tend to offer fund and investment (hedging and commodities) products. 'Off-the-shelf' products don't help deliver a customised solution. Companies and investors may be forced to retro-fit their investment to the products available, which is transaction-oriented versus solution-oriented.
  • Limited breadth of knowledge
    Competitors have commodities teams that track and monitor all commodities across global markets, from rice to platinum. HSBC Americas offers a specialised team whose sole focus is global precious metals.
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Globally connected and recognised

In today's intricately networked and mobile world, business continues across all time zones, and the market requires you to be connected and ready to act. We provide you a globally connected, 24-hour service that is an emerging markets-led, financing-focused system extending worldwide. We can give you access to markets 24 hours a day.

History and heritage

Our view of the precious metals market is 360 degrees wide. We have within our team thought leaders and experts who are based in the US, but are regularly travelling the world. Against this setting of global connectivity, our rich past as a leader in the industry continues to shape the future.

We have a long history of extracting value from each stage of the precious metals value chain. Since 1817 (with Johnston Matthey), HSBC has led the discovery and fuelled the financial growth of the global precious metals market. We have been, and continue to be, the purveyor of precious metals to the global economy.

Global Banking and Markets is a historically trusted financial institution for all arms of the precious metals value chain. Two key acquisitions have made us one of the largest players in the precious metals market today:

  • 1986: HSBC purchased Johnson Matthey
  • 1994: HSBC purchased Mase Westpac

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Industry status, awards and accolades

We are one of the few full-service banks with custody status. We are among the world's largest holders of precious metals; we have the largest commercial, purpose-built precious metals vault in the world. We are the largest COMEX/NYMEX depository, ranked the number one dealer in gold and silver every year since 2003 in Risk and Energy magazine's annual survey. We are also the largest bullion clearer in the world.

The HSBC precious metals practice was ranked first overall in the Precious Metals Dealer category of Risk and Energy magazine's 2011 Commodity Rankings. This is the second consecutive year HSBC was ranked first, and the ninth consecutive year HSBC has been in the top three. The annual survey is seen by the industry as the primary benchmark for the commodity market. Global Head of Precious Metals Jeremy Charles said:

"Winning this award for the second year running highlights the strength of our global precious metals business and provides a very good reason to bring our industry-leading precious metals capability to our clients' attention."

HSBC has received numerous awards and accolades that provide a testament to our strong market position:

  • Precious Metals Dealer category of Risk and Energy magazine's 2011 Commodity Rankings (for the second year in a row)
    • Largest OTC Precious Metals Dealer in the World
    • Largest Metals Custodian in the World
    • Largest Bullion Clearer in the World
    • Largest Commercial Vault in the World
    • Founding member of Silver Fixing in 1897 and Gold Fixing in 1919
    • Only OTC Market Maker that is member of all four fixings (gold, platinum, silver and palladium), in addition to memberships across:
      • The London Bullion Market Association (Chair)
      • The London Platinum and Palladium Market Association
      • CME (COMEX) Division Member
      • LME Category 2 Member
      • DGCX (Dubai) Member
      • SGE (Shanghai) First Foreign Bank Member
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Contacts

To further understand how HSBC Americas and HSBC Global Banking and Markets can offer you and your clients invaluable insight, knowledge, and products and services backed with our reputation, positioning and history, while also producing one of the most competitive precious metals finance and investment offerings in the world, contact our teams in the Americas, Europe, the Middle East, Africa or the Asia-Pacific.

Americas

Voller, Paul
Karam, Michael

Europe, Middle East and Africa

Masterson, Sarah

Asia-Pacific

Collins, Graham J

Find out more about the precious metals value chain

Connect with HSBC's global network for your metals needs.

Or call us on +44(0) 20 7991 5364 for more help and information.