LME Steel Scrap CFR India (Platts)

Data valid for 29 July 2021

LME CLOSING PRICES, US$ Per Tonne

Contract Price
Month 1 527.50
Month 2 527.50
Month 3 527.50
Month 6 527.50
Month 12 527.50
Month 15 527.50

LME CLOSING PRICES curve

HISTORICAL PRICE GRAPH

LME Steel Scrap CFR India (Platts)- contract specifications

Contract code SI
Contract type Futures
Deliver type Cash settled
Lot size 10 metric tonnes
Contract period
Monthly prompts out to 15 months
Price quotation US dollars per metric tonne
Clearable currency USD
Minimum price fluctuation Venue
Outright  Carries 
LMEselect  $0.50  $0.50 
Telephone $0.01  $0.01 
Termination of trading Last LME business day of the contract month
Daily settlement procedure LME Trading Operations will calculate daily settlement values based on its published procedure
Final settlement price published by the LME Last trading day
Final settlement procedure1 Final settlement, following termination of the trading for a contract month, will be based on the reported arithmetic monthly average of Platts’ Shredded Scrap CFR Nhava Sheva price, which is available from Platts from 16.30 London time on the last trading day
Trading venues LMEselect and inter-office telephone
Trading hours LMEselect 01:00 - 19:00 London time 
Inter-office telephone 24 hours a day 
Margining Realised variation margins applied

This is a summary of the contract specifications. For full contract specification details, please refer to the LME Rulebook and for other information, please refer to our disclaimer page. 

Note that all contracts are subject to the LME’s rules and regulations and LME Clear span margining.

1In certain circumstances, the cash-settled futures Index that is used as the Final Settlement Price for this cash-settled future may be known before the last trading date/time. In these circumstances, it will be possible for market participants to enter bids and offers, and to trade, in this cash-settled future on LMEselect and in the inter-office market on the basis of a known price. The Exchange shall not accept any liability for any losses that a market participant may incur as a result of trading activity conducted in these circumstances.

Contact us

For further information please email our Ferrous team.