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CET  ·  London
Quantamental commodity intelligence

See commodity markets
before they move.

Satellite observation, AI-driven supply & demand models and expert analysis — fused into one real-time intelligence platform.

High-frequency coverage across coal, iron ore, steel, agricultural, copper, aluminium, bauxite and more.

Request a demo → See the platform
Proof · Spectrum Italian blast furnace
6 weeks earlier

DBX detected the furnace going cold six weeks before official confirmation — on thermal evidence, not statements.

DBX detection Official data
100+
Traders & funds
$2.5B+
Daily volumes covered
95%
Global dry bulk flows
90%
Global copper smelters
95%+
Prediction accuracy
Indicative · Jun 2025
ARA coal stocks 32.4 Mt ↓−4.3% MoM| EU blast-furnace utilisation 74% ↑+1.1pp| Iron ore seaborne 142 Mt wk ↑+2.4%| Copper smelter activity 82% est. Jun| Alumina refinery throughput +1.8% MoM| Rhine water level −18% vs 5-yr avg| Bauxite exports, Guinea 11.6 Mt May| ARA coal stocks 32.4 Mt ↓−4.3% MoM| EU blast-furnace utilisation 74% ↑+1.1pp| Iron ore seaborne 142 Mt wk ↑+2.4%| Copper smelter activity 82% est. Jun| Alumina refinery throughput +1.8% MoM| Rhine water level −18% vs 5-yr avg| Bauxite exports, Guinea 11.6 Mt May|
As seen in
Reuters | Bloomberg | SGX | Fastmarkets | McCloskey | Montel | Lloyd’s List | Global Commodities | Argus | Energy Aspects | Reuters | Bloomberg | SGX | Fastmarkets | McCloskey | Montel | Lloyd’s List | Global Commodities | Argus | Energy Aspects |
How we work

The quantamental edge.

DBX is neither a data vendor nor a research house. It is a real-time intelligence platform that combines physical satellite observation with AI-driven supply & demand models and deep market expertise — built by traders, trusted across the market — research houses, commodity producers, utilities, steel mills, copper smelters, trading houses, hedge funds and banks. Every figure is DBX’s own: proprietary datasets built from direct observation, not licensed or resold from anyone else.

Satellite observation of an open-pit mine and processing conveyors
01

Satellite & thermal observation

High-resolution optical and thermal imaging captures stockpile footprints, port activity, vessel movements, and industrial heat signatures — from blast furnaces to smelters to bulk carriers at anchor. Multiple passes per day, every day.

02

AI-powered supply & demand models

Proprietary machine-learning models process satellite data, vessel AIS, trade records, and macroeconomic signals into forward-looking supply & demand forecasts. 95%+ prediction accuracy, validated monthly against outturn data. The China S&D monitor was an industry first in 2022.

False-colour satellite imagery
Aerial terrain detail
03

Expert analysis & research

Every data point is reviewed by analysts with 15+ years in commodity trading before it reaches a client. Monthly observatory reports, daily insight updates, and bespoke research engagements — intelligence, not raw data.

The observation layer

Every figure begins as a pixel.

DBX intelligence is grounded in physical observation — mine faces, haul roads, stockyards, and logistics corridors, captured from orbit and measured against calibrated baselines. A sample of the assets under daily watch.

Open-pit mine and processing conveyors
37.10°N 3.60°W
Open-pit mine & processing
Throughput · daily
Open-pit mine haul road
4.05°S 137.11°E
Copper open pit — Grasberg, Indonesia
Haul activity · daily
Bauxite haul terrain
10.93°N 14.50°W
Bauxite corridor — Guinea
Export rate · weekly
Agricultural land aerial
15.60°S 56.10°W
Agricultural belt — Mato Grosso
Seaborne flows · daily
Snow-covered forest aerial
52.40°N 13.10°E
Power-burn season — NW Europe
Thermal demand · daily
Frozen waterway aerial
59.30°N 24.70°E
Winter logistics — Baltic
Ice & passability · daily
The DBX principle

Most of the market waits for the number to be reported. We measure the thing the number is about — the stockpile, the heat, the vessel — and act on it first.

The platform

One platform. From seaborne flows to onshore assets.

Access the full DBX intelligence stack — a complete overview from seaborne trade flows to onshore asset monitoring — through an intuitive dashboard, or integrate directly into your workflow via Bloomberg, Excel add-in, or JSON/CSV API. Available your way.

The DBX platform — Supply & Demand balance dashboard The DBX platform — Coal stocks with satellite stocks map The DBX platform — Spectrum steel mill activity level
Flows

Daily seaborne trade flows across 235+ routes. Origin-to-destination visibility for every dry bulk commodity, updated before European market open.

Inventories

Satellite-verified stockpile volumes at 500+ port facilities, power plants, steel mills, and processing sites. Down to individual blast furnace resolution.

Supply & Demand

Forward-looking S&D balances powered by AI. Country-level models with 95%+ accuracy, validated against monthly outturn. Industry-first China monitor.

Country

Trade balances, policy signals, and production data for 40+ countries. Identify demand shifts and arbitrage windows before they appear in reported data.

Research

Monthly observatory reports and daily market insights authored by analysts with deep commodity trading experience. Distributed to desks across Europe and Asia.

Integrations

Bloomberg terminal feed, Excel add-in, JSON/CSV API, and the full web platform. Your workflow, your choice. Data refreshes at 06:00 CET, before market open.

Request a demo → Log in to the platform
Markets

Eight commodity verticals.

DBX covers the full dry bulk and commodity complex — from seaborne trade to mine gate. Each vertical tracked from point of origin through logistics to end consumption.

Coal
Coal
Thermal & coking
Iron ore
Iron ore
Fines, lumps & pellets
Steel
Steel
Mills & EAF activity
Agriculture
Agriculture
Grain, oilseed & sugar
Copper
Copper
Concentrate & cathode
Aluminium
Aluminium
Smelter & cast house
Bauxite
Bauxite & alumina
Full value chain · 36 origins
Commodity equities
Commodity equities
Physical data, equity signals
Flagship · DBX Spectrum

Onshore assets, seen from orbit.

Spectrum is DBX’s satellite-based monitor for onshore industrial assets — aluminium smelters across the Middle East, copper smelters worldwide, alumina refineries, and steel mills. Real-time visibility into operational status, utilisation rates, and maintenance shutdowns, from upstream production to downstream consumption — updated every day, weeks before official data.

01 → 02 → 03

Satellite imaging

Weekly infrared captures of smelters and mills worldwide detect thermal signatures from active operations.

02

Thermal analysis

Proprietary algorithms read thermal anomalies to determine operational status at sub-asset level — active, hot-idle, or down.

03

Intelligent delivery

Geospatial analysis converts raw thermal data into actionable intelligence through intuitive dashboards and alerts.

Thermal infrared capture of an industrial site
THERMAL · IR BAND
Illustrative thermal capture
Sub-asset operational status
Use case · copper, aluminium & steel
Challenge

Official notices flagged a one-week maintenance. Conflicting restart dates left the market guessing while the furnace stayed cold.

Spectrum

Thermal monitoring captured the suspension in real time and confirmed the absence of any restart signature, week after week.

Outcome

Subscribers forecast the supply constraint and positioned ahead of the price move — on hard satellite evidence, not official statements.

Experience Spectrum →
Why DBX

The satellite sees what the market does not.

Commodity markets run on reported data — survey figures, trade association estimates, operator releases. DBX substitutes observation for reporting, AI for assumption, and expertise for guesswork.

Capability
With DBX
Conventional sources
Smelter & steel-mill status
Is the furnace running?
Thermal status, weekly — weeks ahead of confirmation
Quarterly association figures, self-reported
Port & stockpile volumes
How much is on the ground?
Pixel-measured footprints at 500+ sites, daily
Operator releases, monthly and partial
Seaborne trade flows
What’s moving, and where?
235+ routes from AIS & satellite, daily
Customs data, four-to-eight-week lag
Supply & demand balance
Where is the market heading?
Forward AI forecast, 95%+ vs outturn
Backward-looking actuals only
Disruption detection
When does the desk find out?
Same-day thermal & flow anomaly
After public confirmation, once priced in
Where the analyst’s day goes
Hours spent on…
Interpreting one validated dataset
Reconciling conflicting sources by hand
What clients say

Partnering with DBX has transformed how we monitor our coal export operations. Their real-time satellite analytics give us unprecedented visibility into the global supply chain. The accuracy and timeliness of DBX’s data allow our commercial and logistics teams to make faster, better-informed decisions — from optimising shipment schedules to identifying emerging demand trends.

Drummond Global coal producer & exporter
Setting a new benchmark

“DBX is setting a new benchmark in how data can drive efficiency and insight across the coal supply chain, and we’re proud to work with them as our analytics partner.”

Best-in-class visuals backed by best-in-class fundamentals, all in one place. Intuitive and easy to use — a job well done by the best-in-class team at DBX.

Mirko Ivanda Co Head Power & Gas — Onyx Commodities Switzerland AG
Trusted by trading desks

Used daily by power, gas, and commodity traders across Europe who need to act on data before the market reflects it.

DBX’s insights have transformed our trading strategy, allowing us to make informed decisions with confidence.

Michael Chen Portfolio Manager — Macro Commodities Fund
For financial traders

DBX is used by hedge funds and macro funds to link physical commodity signals to derivatives positioning and equity research.

Our team

Built by traders. Trusted across the market.

DBX was founded in 2020 by commodity trading veteran Alexandre Claude after 15 years navigating markets at leading trading houses. The team combines deep commodity expertise with technology built to handle real-time global data at scale — serving trading houses, research houses, commodity producers, utilities, steel mills, copper smelters, hedge funds and banks.

Alexandre Claude
CEO
Alexandre Claude
LinkedIn →
Giorgos Gerakakis
Head of product
Giorgos Gerakakis
LinkedIn →
Panos Sourtzinos
Head of data science
Panos Sourtzinos
LinkedIn →
Theodosia Zervou
Head of technology
Theodosia Zervou
LinkedIn →
Our story

Founded in 2020. A new kind of commodity intelligence.

In 2020, commodity trading veteran Alexandre Claude identified a critical gap in the market: while traders had access to either quantitative models or fundamental analysis, no one was successfully combining satellite intelligence with deep market expertise at scale.

DBX was founded with the Signal Group partnership and a single conviction — that the most valuable intelligence is derived not from surveys or estimates, but from direct observation of the physical world. The company is headquartered in London and has offices in Greece.

2020 Founded with Signal Group partnership. First satellite coal tracking prototype.
2021 First satellite imagery integration for live coal stockpile tracking.
2022 China S&D monitor launched — an industry first. Platform expanded to iron ore and agriculture.
2023 Expanded to cover 95% of global dry bulk seaborne flows across 235+ trade routes.
2024 AI-powered prediction models deployed, achieving a minimum 95% accuracy across all verticals.
Now Trusted by 100+ traders and analysts managing $2.5B+ in daily commodity volumes.
Aerial view of a volcanic crater
Headquarters
London, UK
Also Athens, Greece
Partners
Signal Group  ·  Energy Aspects  ·  European Space Agency
Request a demo

See DBX applied to your commodity exposure.

30 minutes with the DBX team, tailored to your market focus. No boilerplate deck. No obligation. We will show you the platform applied to the commodities and regions that matter to you.

Get in touch →
Sales info@dbxcommodities.com
Research research@dbxcommodities.com
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