Nymex steeled for futures launch
The contract will be based on prevailing market prices for hot-rolled steel coil in the US Midwest region and will settle against an index developed by steel industry information provider CRU Indices. It will trade on the CME Globex platform, and OTC deals can be cleared through Nymex’ ClearPort clearing house.
The contract size will be 20 short tons with a minimum price fluctuation of $0.50 per short ton and the contract will be listed for 18 consecutive months. Final settlement on the monthly
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