LME steel futures volume

Print this page Posted on : 04-25-2009 by recycleinme.com

More than 1.5 million tonnes of steel futures have been traded on the London Metal Exchange since the LME began steel trading a year ago, the exchange said Friday. Almost all of the volume occurred in the Mediterranean steel contract, which was launched in April 2008, the LME said. ''The LME steel price has quickly become an integral part of the steel industry and has begun to be referenced in physical scrap and reinforcement bar transactions,'' Chief Executive Mr Martin Abbott said in a press statement. The LME also launched a Far East steel contract at the same time last year.

Source : Business Line