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24/07/08 - Steel billet spot trading starts
The London Metal Exchange has today commenced cash (spot) trading, marking the end of the launch period, for both the Mediterranean (FM) and Far East (FF) LME Steel billet futures contracts. The cash dates provide the steel billet industry with access to valuable daily cash reference prices, and offers market participants the full flexibility of a range of daily trading dates out to 3 months.

Steel billet futures can now be traded as following

• Up to 3 Months - every business day
• 3-6 months – weekly every Wednesday of the week
• 7- 15 months - monthly, every 3rd Wednesday of the month

These trading periods are applicable to the Mediterranean (FM) and Far East (FF) LME Steel billet future contracts.

21/07/08 - Steel Billet spot trading to commence soon
On Thursday 24 July cash ‘spot’ trading will be available for both LME steel billet futures contracts.

The introduction of cash dates provides the steel billet industry with valuable daily cash reference prices and offers market participants the full flexibility of daily tradable dates out to 3 months.

Both the Mediterranean (FM) and Far East (FF) LME steel billet futures contracts will become fully fledged LME contracts with the introduction of cash trading, in-line with the highly successful non-ferrous contracts.

30/04/08 - Interview with Lotta Ulfsdotter, Business Manager - Steel, LME
Platts Steel Markets Daily editor David Beattie spoke to London Metal Exchange steel business manager Lotta Ulfsdotter about the steel futures trading since the launch of Ring trading on 28 April 2008. The interview includes commentary on industry reaction to the new contracts and their participation in the market.

• Listen to the interview on Platts.com (MP3)

28/04/08 - London Metal Exchange launch steel futures trading
Trading in steel futures commenced on the London Metal Exchange Ring today following the successful test phase trading on its telephone and electronic market, LME Select.
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29/11/07 - LME Announces Additional Grades for Steel Billet Contracts
The London Metal Exchange (LME) has today confirmed the addition of new grades and shapes to its steel billet contracts, which the Exchange will launch on 28 April 2008, preceded by a ‘soft launch’ on 25 February 2008.
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10/10/07 - LME confirms first steel billet brands
Well in advance of the commencement of trading in the LME’s two regional steel billet futures contracts for the Mediterranean and Far East, the LME has today confirmed the first billet brands that will be deliverable, and now expects a regular flow of brand listings going forward.

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4/10/07 - Interview with Lotta Ulfsdotter - Steel Market Executive, LME
Lotta Ulfsdotter, Steel Market Executive at LME spoke to  Francis Browne, Steel Market Editor at Platts about the pending launch of steel billet contracts in April 2008.

• Listen the the interview on Platts.com (MP3)

21/09/2007 - Start of Steel billet trading
More details about the commencement of trading have been released.

10/09/2007 - LME confirms 28 April 2008 as launch date for steel billet futures contracts
The London Metal Exchange (LME) has today confirmed that the two regional steel billet contracts will commence trading on Monday 28 April 2008. The contracts cover two regions: Mediterranean and Far East.
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12/06/2007- LME announces two regional, physically-delivered steel billet futures contracts
The London Metal Exchange has today confirmed that it will commence futures trading in steel billet in April 2008. There will be two regional contracts, one for the Near East and one for the Far East.
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04/01/2007  - LME “2 by 2” Growth Strategy Announced
Martin Abbott, LME Chief Executive today announced the “2 by 2” growth strategy for the LME. The “2 by 2” strategy will see the LME developing two swathes of organic growth from non-ferrous into ferrous and from Futures into OTC trading. It is designed to double the volume of business at the LME within the next three to five years.
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