Delphi keeps eye on futures contract

Oct 30, 2008 | 11:02 AM | Michael Cowden

Delphi Corp. has joined the list of automotive companies keeping a close eye on CME Group Inc.'s new hot-rolled coil steel futures contract.

The Troy, Mich.-based automotive supplier hasn't bought or sold any steel on the contract but is looking at it with interest, said Udesh Kaul, metallic category director, Delphi global supply management.

"Only certain commodities are available for hedging," he said at AMM's 3rd Annual Automotive Metals Conference in Detroit. "We are looking at the (CME contract)."

The Chicago-based CME Group launched its steel futures contract last week. Several automotive players have expressed interest, but thus far activity around the contract has been low. ....

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