| Steel trading is migrating to exchanges despite the reluctance of some large steelmakers to participate in the market, as users of the industrial alloy demand a way to protect their bottom lines from volatile prices.
Major commodity exchanges see a lucrative market in waiting, since steel is the most widely traded industrial commodity that lacks a clear futures-market benchmark. But large U.S. and European steelmakers, leery of market speculators and a loss of control over pricing, have been more reluctant to make the jump to futures trading..............................................Full Article: Source
|