Energy shortages, shipping bottlenecks and supply curtailments set the tone for the base metals market in 2021. As the fall out of Covid-19 restrictions continued to disrupt production and a back log of shipments disrupted supply chains, base metal prices were at a high and the market saw increased demand from corporates and investors alike.
Energy Risk has recognised BNP Paribas as Base Metals House of the Year, citing its deep liquidity, expert market knowledge and ability to meet the increased demand from its clients whilst they navigated the market dynamics in 2021.
“It is an honour for our commodities franchise to win this award for the 6th consecutive year”, commented Guillaume Picot, Global Head of Corporate & Investor Commodity Derivatives Sales at BNP Paribas. “With each year, we are proud to continue serving clients, no matter the circumstances, and we would like to thank them once again for their continued trust.”
We are proud to continue serving clients, no matter the circumstances and we would like to thank them once again for their continued trust.Guillaume Picot
Global Head of Corporate & Investor Commodity Derivatives Sales at BNP Paribas
Intensifying the Energy Transition Trend
One theme that continued to shape the commodity markets in 2021 was the growing need for firms to transition to more sustainable energy sources and reduce their CO2 emissions. With COP 26 taking place in November 2021 where governments pledged to reduce emissions to achieve net-zero globally, more and more companies are looking to intensify their energy transition targets. BNP Paribas’ commitment to the green energy transition and net-zero remains steadfast and the bank continues to work with existing clients to support their transition goals.
BNP Paribas also supported clients in the electric vehicle (EV) and hydro power sectors and was active in supporting windfarm projects where manufactures were faced with sharp rises in raw material costs.
Read the full article from Energy Risk here.