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Ferrous metals

We offer two ferrous contracts, LME Steel Rebar and LME Steel Scrap; cash-settled futures which are designed to meet the needs of the metal community for new risk management tools. View the contract specification for both our scrap and rebar contracts.

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 tradeable forward curve for both steel scrap and rebar, which facilitates effective hedging of physical business across the value chain.

Steel Rebar

Steel Scrap

More information

Resources:

Access the contracts:

Pricing and margining:

LME Ferrous Liquidity Provider programme for LME Steel Rebar and LME Steel Scrap

We have introduced a Liquidity Provider programme to support the launch of our two new ferrous contracts. The programme forms part of our initiatives to enhance participation and liquidity on the LME and launches on 1 January 2019.

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 2019 New Ferrous LP 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 New Ferrous LP Programme from January 2019, applications must be received by the Exchange by 10 January 2019, as communicated in LME Notice 19/013 2019 Ferrous LP Programme – appointed Liquidity Providers and new application deadline

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 New Ferrous LP Programme with effect from 1 January 2019:

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

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

 

Useful links

Contact us

For further information please email our Ferrous team.