Hear about LME rebar and scrap at Iron Ore Week Singapore
Paul MacGregor
Financial Markets Technology Transformation Leader | Derivatives Specialist | Technology Innovator | Strategic Leader
The LME launched its cash-settled ferrous contracts for steel scrap and rebar in November 2015, and in the last 18 months we have seen great appetite for these futures from the steel market.
To date, the contracts have traded nearly 1.4 million tonnes in total and we‘ve seen another record trading day this month with rebar trading 15,780 tonnes on 5 April.
These contracts have given the steel market tradeable forward curves out to 12 months for the first time.
LME Steel Scrap forward curve
LME Steel Rebar forward curve
As our rebar and steel scrap contracts continue to develop and grow, we're also delighted to have received nominations for two awards: Financial Services Provider of the Year at the AMM Awards for Steel Excellence 2017; and Financial Metals Service Provider of the Year at the Platts Global Metals Awards 2017.
The Ferrous Team and I will be in Singapore for Iron Ore week next week (24-28 April) so please send me an email at [email protected] if you’d like to arrange a meeting with us to hear about the contracts.
For more information on the contracts visit our website lme.com/ferrous and download our ferrous monthly report here.