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Home Steel News LME mulls to launch steel billet swap contract
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LME mulls to launch steel billet swap contract

2 Jan 2012 11:04 reported by Ren Jhuang

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It is reported that the London Metal Exchange (LME) is considering the launch of a billet swap contract in order to cash in on increasing interest in steel derivatives from industrial and financial participants.

According to the spokesman of LME, they are looking at it following requests from the industry.

It is known that LME already has a steel derivative formed by two physically backed regional billet futures contracts back in April 2008, one Mediterranean and one Far East contract. They were subsequently merged into the Mediterranean contract in July 2008.

LME is now considering the launch of a cash settled steel contract by referring to the example of other exchanges such as the CME, which has an outstanding growth in trading volumes for the past few months.

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