We continue to operate in uncertain times—but there’s one area where we’re seeing consistent progress: the evolution of our AI-powered metals trading solution.
In May, our solution returned +1.5%, annualizing to 18%, with volatility just 4.1%—a fraction of the 18%–35% range for LME base metals. This combination of returns and low volatility is proof of disciplined risk management.
We held net shorts on 80% of trading days—bearish exposure was three times larger than bullish. Despite this, our PnL shows we captured profits both when metals declined and, selectively, when some metals rallied, reflecting disciplined and adaptive positioning. While tin led performance, we generated positive returns across five of the six LME base metals—showcasing exceptional breadth and consistency in our trading.
Our cross-asset correlation indicator accurately anticipated the base-metal rally, capturing gains and demonstrating its predictive power.
We’ve also launched an SHFE–LME arbitrage strategy to capture price gaps between Chinese and London futures. A one-year backtest shows compelling profit potential with active FX hedging, and we’re building an automated, real-time system that leverages our China presence.
