Whitepaper: Volatility in Metals - Effects on Trader Hiring

Since January, the metals market has been a rollercoaster of tariff-induced disruptions, arbitrage opportunities, and sharp reversals, reshaping the competitive landscape for trading houses and banks alike.

In our latest talent whitepaper, HC Group Metals' talent experts, Nick Snoek and Jay Perhar, examine how volatility has intensified talent battles, with recruitment pivoting toward agile arbitrage specialists and traders capable of navigating distorted flows.

You can access the full whitepaper by filling in the form below.

This article provides a preview of HC Group’s Metals Talent Trends Whitepaper. Complete the form below to gain full access to the report, which includes:

Latest Metals People Moves
Volatility Reshaping Trader Recruitment
Hiring Shifts Toward Precious Metals

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Sanctions and supply disruptions have underscored the advantage of well-established trading houses, highlighting the need for talent able to thrive under regulatory and logistical pressure.

Policy changes under the Trump administration – culminating in a 50% tariff on semi-finished copper products on July 30 – have exacerbated supply chain strains, fuelled safe-haven flows into precious metals, and exposed vulnerabilities on both paper and physical trading desks. While some majors have capitalised on fleeting spreads, the ensuing volatility has intensified talent battles, with recruitment pivoting toward agile arbitrage specialists and traders capable of navigating distorted flows.

Base Metals Volatility and Talent Pressures

Over the summer, sanctions and supply disruptions have shaken Europe's base metals market. The LME has been central, allowing major trading houses to capture arbitrage opportunities from rerouted supplies and shifting price premiums.

Since June 2025, large copper inflows into LME warehouses have created notable price gaps.
Some leading firms capitalised by buying contracts and rerouting supplies within Europe.
Established trading houses have shown stronger performance than speculative funds, particularly in handling regulations.
This period has underlined the importance of experience and resources in navigating heightened market volatility.

While some majors have capitalised on fleeting spreads, the ensuing volatility has fuelled fierce competition for talent, with hiring focused on agile traders and arbitrage specialists able to navigate complex, distorted trading flows.

Conclusion

The turbulence across base and precious metals in 2025 has underscored the tight link between market volatility and talent strategy. As sanctions, tariffs, and shifting supply chains reshape trading flows, firms are competing fiercely for specialists who can manage risk, capitalise on arbitrage, and pivot between base and bullion markets.