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CME Group to launch new ferrous scrap trading platform
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CME Group, the world's most diverse derivatives marketplace announced to begin the US Midwest number one busheling ferrous scrap futures on September 10th, subject to regulatory approval.
This will be the first ferrous scrap futures contract available in the US steel industry and it will be based on the rules of NYMEX.
Meanwhile, trading platform would be able to provide an effective tool to enable price risk management throughout the entire supply chain, from raw materials to finished steel products.
It will help to lead the US Midwest scrap futures contract to become a global benchmark for price discovery and managing volatile input prices accordingly
News Date
8/20/2012 12:10:21 AM
reported by
Jacky Huang
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