Booking a trade

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This guide covers how to:

• Book new trades
• Enter trade details (Material, Quantity, Delivery Terms, Pricing)
• Copy previous trades
• Reviewing / Deleting Trade Drafts

A Trade in MineHub represents a Contract between you and your counterparty. MineHub supports Spot Transactions or Trades over longer periods (e.g. annual contracts).

There are 2 ways to book a New Trade:

Method 1: Create a Trade from scratch

Create a trade from scratch, via the Create trade button on Trade Manager

This will bring up an initial form to complete, outlining the basic details of the trade:

• Buy or Sell: Choose whether to Buy or Sell for the Trade.
• Business Unit: Choose the relevant Business Unit of the user / where the Trade is from.
• Material: Choose the relevant Material for the Trade.
• Delivery period: Choose any time period from the drop down:
  • Single month
  • Month range (e.g. January to December for an annual contract)
  • Single date
  • Custom date range (e.g. Feb 15th 2024 to July 4th 2024)
• Buyer / Seller: Choose the relevant Counterparty.

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If your counterparty isn’t available in the dropdown list, please contact the MineHub support team at support@minehub.com

• Create: Once done, hit Create

Method 2: Copying an existing Trade

Create a Trade by copying an existing Trade.

First on Trade Manager, find and click into the Trade ID which you want to copy.

This will navigate the user to the Trade Details section. Select the 3 dots action menu in the top right, and choose Copy trade.

This will also bring up the trade booking form, where you can edit the details as needed. Hit Create once done.

Contacts

Once the Trade is created, in this section you will be able to:

• Name the trade, using for example your organization's internal contract number, or any other reference/name relevant to you and/or your counterparty.

• Specify who will be receiving notifications relating to the trade (for example, any time a new declaration is made or amended, or a new schedule is created).

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It is possible to select / deselect any user from your organization or your counterparty's organization. Feel free to add / remove them from this list at any time you need to update which team members should receive notifications of the trade.

Material

Controls which products can be delivered against the trade; we refer to each of these as material specs. These will determine how specific the declaring party can be later on, so it’s important that material specs are set up carefully and correctly.

• Material names of the specs can also be edited to make them unique and easily readable by clicking on the Pencil icon.

• Apart from the Grade & Shape, all other fields on material specs can contain multiple values.

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  We suggest you leave other fields empty, unless it’s crucial to the contract.

• Select + Add another to add more material specs.

Delivery

Delivery Period

• Choose any time period from the drop down:
  • Single month
  • Month range (e.g. January to December for an annual contract)
  • Single date
  • Custom date range (e.g. Feb 15th 2024 to July 4th 2024)

Delivery Terms

• Shipping terms: All Incoterms are supported, and can be chosen from the dropdown field.
• Port of Discharge: You can specify where and how material is to be delivered.
• Add another delivery term: Multiple delivery terms is also supported by clicking the + Add another delivery term button

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If the location you need isn’t available, select New location in the Port of Discharge field. Key in the relevant City, State, Country. This will generate a request, and the MineHub team will complete setup.

Trade Type

• Standard: Standard trades are generally fulfilled by shipments and warehouse releases.
• Consignment: Select consignment if you plan to release material from consignment to fulfill the trade, this will allow you to link a consignment account.

Material / Delivery Optionality

• Optionality can be with either the Buyer or Seller.
• The deadline for the declaration can be specified in the ‘days before M’ field.
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  An email notification will be sent prior to this date, reminding the declaring party.

Scheduling Type

• This can be either Buyer Initiated or Seller Initiated.
• This entry records the primary scheduler. Counterparty will be notified when schedules need to be initiated.
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  We recognize that this is a collaborative effort. Counterparties will be allowed view/edit access to schedules.

Delivery terms notes

• Use this space to specify any additional information about the delivery terms for this trade.

Quantity & Quota

Quantity

• This gives you control over the volumes to be delivered both in total over the lifetime of the trade, and at individual month level.
• Either a Single number or a Range can be specified at both levels.

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By adding a Shipping tolerance is useful, as it leaves some flexibility when we check whether a quota has been satisfied later on.

Quantity optionality

• If a Range is selected, the Quantity optionality can be set in either the Buyer or the Seller’s favor.
• The deadline for the declaration can be specified in the days before M field. An email notification will be sent prior to this date, reminding the declaring party

Quota Per Period

• Quotas for individual months can be tailored to specific ranges, or all can be updated at once to the same values via the Update all button.
• The Update All form will appear.
• Select Spread Evenly to automatically divide the total contract volume across the trade periods.
• Select Update All once done.

• Now, all the quotas are updated accordingly (possible to auto calculated based on the range given)

Price

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Please note that the Price section is optional. If you do not want to capture pricing information in MineHub, simply do not complete this section of the trade.

This section allows you to capture a wide variety of pricing formulas:

• either a floating price (e.g. 100% of the LME 3M price) or a fixed amount (e.g. $2,500)
• QPs averaged over different time periods relative to either the quota month or the month the shipment arrives
• Premiums based on indices (e.g. CUP) or a fixed amount
• Premium modifiers to capture extra conditions (e.g. if the diameter is Registered Grade A”, charge an extra 10c/lb)

The Payment term can be configured by various events (date of delivery, presentation of documents, etc), or by a specific date.

Documents

Finally, the Documents section specifies which documents are required for payment and shipping.

• You can select and add multiple documents from the dropdown lists.
• The contract or any other trade-level paperwork can be uploaded via the Document upload box.
• This can be downloaded by either you or your counterparty whenever required.

Confirm the Trade

If the Trade needs to be Authorized / Confirm by you or another employee, then click on the Confirm Trade button

• insert all the relevant details
• check on the I confirm this is in agreement with ORG's Name*
• Hit Submit

• When you’re finished, the status will be changed to Confirmed on the top right-hand corner with the last updated details

Set Trade Live

• If you are happy with all the details, and ready to set this trade live, click on the Set trade live button on the top right hand conner.
• This will bring up a screen on summary of the details you’ve entered so that you can check everything is correct before submitting.
• Once done, click on Set Trade Live

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Don’t worry if you accidentally forgot to set the trade live: MineHub will automatically save your trade as a Draft.

Video of this guide

If you prefer to go over these instructions in a video format click below: