Travel in Commodity Trading
How often do traders need to travel to producer companies especially post COVID. Additionally was/is there security provided for traders traveling into third world countries?
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I think that it depends strongly on the company and the market you operate in. The traders I work with only travel for conferences and high-level meetings (petrochem industry), while I have a friend in metal who is always on the move and often go on the field for weeks to check out with its counterparts.
so does he go to their mines to check out if everything is running smoothly and they aren't screwing him?
I will further ask, but I understood that it was more about maintaining good relationships and product quality
Pretty often if you’re in metals and mining products. Visiting mines or processing plants pretty standard norm.
Also if you are in a big trading house versus a smaller house would depend on the amount of coverage you might have in quality, freight, finance etc. Meaning the amount of business activities you have to dip your toes in to facilitate an entire deal. Because that would require you to travel to meet various types of different counterparties that can offer you the best margin for a trade.
Could be visiting other capital cities around the world and not just shabby old country towns.
And security for third world countries, no, you’re on your own. If you want to hire security, then that’s coming out of your PnL
damn
If you are trading your own book everything comes out of your PnL that is an expense that is directly related to your books operations. That is how accounting works.
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