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Home / Metal News / LME Launches New Aluminum Premiums, Steel Scrap and Rebar Contracts

LME Launches New Aluminum Premiums, Steel Scrap and Rebar Contracts

iconNov 24, 2015 08:54
Source:SMM
The London Metal Exchange (LME) today launched its first new contracts in more than five years. LME Aluminum Premiums, LME Steel Rebar and LME Steel Scrap, are the new contracts.

by Jeff Yoders on NOVEMBER 23, 2015

Style:Industry NewsCategory:Commodities, Ferro Alloys, Ferrous Metals, Metal Prices, Metal Pricing, Non-Ferrous Metals, Product Developments

Source: Adobe Stock/luzitanija

The London Metal Exchange (LME) today launched its first new contracts in more than five years. LME Aluminum Premiums, LME Steel Rebar and LME Steel Scrap, are the new contracts.

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“Today’s announcement highlights the LME’s new approach to market engagement,” said Garry Jones, CEO of the LME. “This has been an extremely customer-focused product launch, and we have collaborated with participants throughout the metals value chain to ensure we have created contracts that people want to trade.”

The new scrap and rebar contracts will be traded on LMEselect, allowing industry participants to reduce their risk exposure by hedging more steps in the steel production process. The contracts are cash-settled against physical Turkish scrap and rebar price indexes.

The new ferrous contracts will be supported by market-making programs to optimize market depth and tightness of spreads.


LME Aluminum Premiums

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