Ferrous metals

On March 11 2019 we added LME Steel HRC N. America (Platts) and LME Steel HRC FOB China (Argus) to our ferrous suite of contracts.

Like LME Steel Rebar and LME Steel Scrap, the new cash-settled contracts were designed in close consultation with the steel community to meet their risk-management needs.

All our ferrous contracts are underpinned by leading and carefully selected index providers, and are tradable on LMEselect and via the inter-office market out to 15 months.

LME Ferrous Liquidity Provider programme

On 1 January 2019, we introduced a liquidity provider programme to support the growth of our ferrous contracts LME Steel Scrap and LME Steel Rebar. From 11 March 2019 the two LME Steel HRC contracts were included.

Any interested parties will be able to apply to the Exchange at any point in time from the publication of Notice 18/331 until 15 November 2019. The Exchange must receive applications by the fifteenth day of the month in order to begin participating in the 2019 Ferrous Liquidity Provider Programme from the first day of the following month.

Application documentation

LME incentive programmes are governed by the Incentive Programme General Terms (PDF).

If you have any questions, please contact sales@lme.com.

In order to participate in the 2019 Ferrous Liquidity Provider Programme, you must complete the application form and send it into the Exchange, as communicated in LME Notice 18/331 2019 Ferrous Liquidity Provider Programme.

Selected Ferrous Liquidity Providers

Pursuant to the application process and subject to the eligibility criteria set out in LME Notice 18/331 2019 Ferrous Liquidity Provider Programme, the Exchange has selected the following applicants to participate as liquidity providers in the Ferrous Liquidity Provider Programme:

Liquidity provider Commencement of participation in the 2019 Ferrous LP Programme 
Alpha Academic Ltd 1 January 2019
Amalgamated Metal Trading Limited 1 January 2019
BNP Paribas SA 1 January 2019
Ferrometrics LLC 1 January 2019
Legend Arb trading Limited 1 June 2019
Dragon 888 Commodities Pte Ltd 1 July 2019 
Focus Technology Pte. Ltd. 1 September 2019
Mettalex Limited 1 October 2019
Mercury Derivatives Trading Limited  1 October 2019
Theme International Trading SPC 1 November 2019

Ferrous fee schedule

Contract Type Category  Trading (USD)  Clearing (USD) Total (USD) 
Exchange Ring/Kerb/Basis n/a n/a n/a
Non-Ring 0.07 0.03 0.10
Give-up 0.03 0.03 0.06
Client Short-dated carries n/a n/a n/a
All other 0.07 0.03 0.10
Option exercise/agreement n/a n/a n/a
Cash settlement fee - 0.02 0.02
Delivery fee n/a n/a n/a