Freight hedging to gain speed: execs
Dec 19, 2012 | 04:51 PM
| Samuel Frizell
Tags
Capital Link,
Annual Global Derivatives Forum,
Freight Investor Services,
steel futures,
freight derivatives,
John Banaszkiewicz,
Samuel Frizell
NEW YORK — Steel, scrap and raw materials derivatives are gradually gaining acceptance in a metals industry struggling with unprecedented volatility, and a more widespread use of freight derivatives may be just around the corner, according to executives at a number of the world’s largest brokerage and shipping firms.
The steel and shipping markets have been swept by extreme volatility in recent years, industry leaders said at Capital Link’s fourth annual Global Derivatives Forum in New York this week, with average hot-rolled coil prices in the United States swinging between $580 and $750 per ton this year and shipping rates increasingly subject to their own sharp turnarounds.....
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