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Can the London Metal Exchange crack the steel market?

Posted on 01 December 2015

The London Metal Exchange (LME) has just launched two steel contracts, one for steel scrap and one for steel rebar. It’s the second time the LME has tried to expand its dominant franchise in nonferrous metals markets into the ferrous space.
Its steel billet contract has long been moribund. Volumes so far this year have totaled a meager 28 lots and there has been no trading at all since June. Despite that, the exchange has decided to keep the contract to facilitate potential arbitrage with the two new contracts. Steel could offer a timely boost to the LME, which is seeing volumes across its core base metals contracts decline for the first time in many years………………………………………..Full Article: Source


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