CME Group is listing three financially settled steel contracts in April. The contracts are Heavy Melting Scrap (HMS) 80/20 Ferrous Scrap, CFR Turkey (Platts) Swap Futures, Steel Billet, FOB Black Sea (Platts) Swap Futures and European Hot Rolled Coil, Ex-Works Ruhr Germany (Platts) Swap Futures.
The contracts, which will be listed on CME ClearPort and the New York trading floor, are subject to the rules of the New York Mercantile Exchange. The new contracts will complement CME Group’s existing suite of products, which include U.S. Midwest HRC Steel and Iron Ore swaps and options basis CFR China.
Click here for the release from CME Group.