As part of our drive to expand the suite of ferrous products on offer to our customers, we have introduced two new ferrous contracts, LME Steel Rebar and LME Steel Scrap. These cash-settled futures are designed to meet the needs of the metal community for new risk management tools.
The LME has a long-standing, close relationship with the steel and steel input industries. Our new contracts have been developed in response to market demand and in close consultation with steel producers and consumers. These contracts complete the production value chain for long steel - from inputs (LME Steel Scrap) to finished products (LME Steel Rebar).
For the first time, the global steel industry can take advantage of a 15-month tradable forward curve for both steel scrap and rebar, which facilitates effective hedging of physical business across the value chain.
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LME Steel Billet suspended 10 April 2017