CME scrap futures hit after sideways move
Jan 11, 2013 | 03:41 PM
| Lisa Gordon
Tags
busheling,
Midwest No. 1 Busheling Ferrous Scrap Futures contract,
CME,
scrap prices,
Lisa Gordon
PITTSBURGH — An unusual turn in the domestic ferrous scrap market in January might have contributed to a dampening in recent settlement prices for the first U.S. ferrous scrap futures contract.
CME Group’s U.S. Midwest No. 1 busheling ferrous scrap futures contract for February had more than three dozen lots settle on Jan. 10 at $390 per gross ton, a $20 decline from previous expectations. The contract will be settled based on AMM’s Midwest Ferrous Scrap Index for No. 1 busheling in February.....
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