Deutsche Bank, a leading global investment bank and Stemcor, the world’s largest independent steel trader, have forged a strategic alliance to trade financial steel products. The two organizations will offer hedging services to their combined client base via Deutsche Bank’s sales and trading teams. The agreement creates the world’s strongest financial steel product offering, putting Deutsche Bank’s acknowledged expertise in commodity market making, financial trading and broking together with Stemcor’s global presence in physical steel trading. The alliance, which will be managed by Mr Ray Key, Global Head of Metals Trading at Deutsche Bank and Mr Jean-Luc Fiorenzoni, Director of Stemcor Risk Management, covers steel products and raw materials for making steel. Deutsche Bank and Stemcor are developing a business model that will leverage the skills of both parties and offer clients a structured approach to price risk management.