LME Steel Scrap

US$/tonne for 17 August 2017

LME closing prices, US$ PER TONNE

Contract Price
Month 1 347.00
Month 2 353.00
Month 3 346.00
Month 6 318.00
Month 12 295.00
Month 15 295.00

LME closing prices curve

Historical price graph

Contract specifications

LME Steel Scrap

Contract code SC
Contract type Futures
Deliver type Cash settled
Lot size 10 tonnes
Contract period
Monthly out to 15 months
Price quotation US dollars per tonne
Clearable currency US dollars
Minimum price fluctuation (tick size) per tonne
Outright  Carries 
LMEselect  $0.50  $0.01 
Inter-office  $0.01  $0.01 
Termination of trading Last business day of the contract month until 13:30 London time
Daily settlement procedure LME Market Operations will calculate daily settlement values based on its published procedure
Final settlement procedure Final settlement, following termination of the trading for a contract month, will be based on the Monthly Average Index Price of the "TSI Scrap HMS#1 and HMS#2, 80:20 Turkish Imports CFR Iskenderun Port" Index, which is available from the 13:30 on the last trading day
Trading venues LMEselect and inter-office telephone
Trading hours LMEselect 01:00 - 19:00 London time 
Inter-office  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.

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For further information please email our Ferrous team.