LME Steel Scrap

Data valid for 15 July 2019

LME closing prices, US$ PER TONNE

Contract Price
Month 1 298.00
Month 2 308.00
Month 3 306.50
Month 6 306.00
Month 12 291.50
Month 15 292.00

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 16:30 London time
Daily settlement procedure LME Market Operations will calculate daily settlement values based on its published procedure
Final settlement procedure1 Final settlement, following termination of the trading for a contract month, will be based on the Monthly Average Index Price of the "Platts TSI HMS 1/2 80:20 CFR Turkey" assessment, which is available from the 16:30 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.

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.

The Monthly Overview report provides a snapshot of key data relating to LME Steel Scrap including:

  • Cash and 3 month prices
  • Trading volumes
  • Futures Market Open Interest (MOI)
  • Warehouse stock movements.

Download historical data for this contract (including daily closing price forward curves, final settlement prices, daily volumes and exchange open interest) here: Historical data for cash settled futures

Contact us

For further information please email our Ferrous team.