Aluminium hedging 101 instructors | CRU World Aluminium Conference 2025

	Spencer Onstot Johnson Spencer has worked on the StoneX Financial Inc. – FCM Division, London Metals Exchange trade desk for over a decade, over that time he has worked with every type of market participant to formulate risk management and trading strategies for their Aluminum and other base metals exposures, working with both mid-sized family companies and large international traders. His areas of expertise in Aluminum trading include options strategy and structured products in addition to traditional exchange products.
	Fred Penha Fred is a Sales Trader at StoneX Financial Inc. – FCM Division with a focus on base metals, and aluminum premiums. Fred has been in the commodities business since 2003, when he worked in logistics in mainland China. Prior to joining StoneX, Fred was head of the Americas, Base and Ferrous metals at CME Group, the world’s largest commodities exchange. Fred has also worked at LME Brokerages Triland Americas, Jefferies Bache and Marex, focusing on North and South American industrial consumers and producers. Fred is a graduate of the State University of New York, Stonybrook, and is multilingual, speaking Mandarin Chinese, German, French, Italian, Spanish and Portuguese
	Sean Kessler Sean serves as Director, Metals Products for CME Group. He is responsible for the strategic development, management and profitability of the company’s industrial and precious metals business in the Americas. Prior to joining CME Group in 2018, Kessler was a metals trader at Red Kite Group and ED&F Man Capital Markets, where he managed risk in metals futures and over-the-counter markets. He holds an MBA as well as bachelor’s degrees in finance and economics from Sacred Heart University.
	Scott Stewart Mr. Stewart has been involved internationally in the metals trading and risk industry for 21 years. His competency focus is on the physical and financial side of commodity markets and he has significant operational, trading and price risk management experience in metal, energy, and foreign currency trading. Mr. Stewart started Black Hawk Resources in 2010 and as a Commodity Trading Advisor (CTA) continues to be an outsourced commodity risk manager for his clients. His two decades of experience have provided Mr. Stewart with a grasp of raw material opportunities and risk profiles which he leverages to help customers improve earnings while reducing their level of uncertainty and financial risk as it relates to hedging transactions, inventory and other pertinent commodity related pricing risks. Previously, as VP, Global Risk Management at Aleris International, Inc. and Novelis, Inc., (2005-2009) the world’s two largest aluminum scrap recyclers, Mr. Stewart was in charge of a global team of pricing risk personnel responsible for those companies’ global commodity risks. In his roles, Mr. Stewart worked with various raw materials and the different risks associated with them. Industries segments included Automobile, Packaging and Containers, Building and Construction, Aluminum Recycling, Transportation, Aircraft end uses in the Aluminum and Zinc sectors. Prior to his experience in risk management he was involved in metal and energy trading at Glencore International (2000-2005), the world’s largest base metals and energy trader where he was based in Stamford, Connecticut and internationally in Zug, Switzerland. Mr. Stewart holds a M.S. and B.S. in Biology and B.A. in Anthropology from the University of Cincinnati, Ohio.
	Eoin Dinsmore Eoin joined CRU in 2011 after previously working for Nestle. Eoin is the head of the CRU aluminium primary and products team. As a research manager at CRU he leads a team of analysts across three continents. Through this work, supporting the world's leading aluminium companies, he has built a reputation as one of the leading aluminum market analysts. Eoin has an extensive network in the aluminium industry and is a regular speaker at industry events.Eoin obtained an MSc in Finance and Capital markets from Dublin City University in 2008 and holds a BA in Economics and History from the National University of Ireland.
	Gregory Wittbecker Greg is based in Pittsburgh. In this capacity he supports North American and Global fundamental aluminum analysis.Greg joined CRU in January 2018, following his retirement as Vice President, Industry Analysis, Alcoa. During his 14 years at Alcoa, Greg held director roles in analysis, logistics, recycling policy and corporate strategy. During 2016-2017, Greg was Managing Director of Alcoa China, Shanghai, where he led Alcoa’s comprehensive analysis of the Chinese upstream markets. Before joining Alcoa in 2003, Greg was Global Manager of Physical Metal Trading for Koch Supply and Trading. From 1988-2001, he served as Vice President at Wise Metals Group, responsible for risk management and primary metal trading. Greg began his career with Cargill Inc, holding a progression of operational and trading roles within grains, metals and ocean freight.