LME to launch steel futures in 2008, DGCX steel launch delayed
The London Metal Exchange (LME) will commence futures trading in steel billet in April 2008. There will be two separate regional contracts, defined by the LME as for the Near East and Far East respectively
The physically-delivered contracts form the first part of the LME’s offering of price risk management tools to the steel industry and follow a period of extensive consultation with LME members and those involved in the physical steel industry. More LME steel contracts are expected to follow, according to the exchange’s chief executive Martin Abbot.
Commenting on the new contracts, Liz Milan, LME
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