Hedging tools gain ground in steel market

Apr 12, 2012 | 02:22 PM | Catherine Ngai

Tags  steel futures, derivatives, hedging, Cargill Ferrous, O'Neal, Tony Ankar, Rick Dougherty, catherine ngai

NEW ORLEANS — A growing number of steel companies have turned to derivatives in an attempt to manage risk in a volatile and uncertain market, even as others remain hesitant to embrace the new tools.

"The price of steel can cause a lot of risk, heartburn and headache," Rick Dougherty, vice president of sales and marketing at Cargill Ferrous International, said during the Critical Commodities Conference sponsored by the Port of New Orleans. "In today’s volatile world—be it commodities, ocean transportation, logistics—it’s important to be able to manage some of that risk." ....

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