Futures market for ferrous scrap quiet
Jan 18, 2013 | 05:30 PM
| Lisa Gordon
PITTSBURGH The scrap futures market was markedly quiet this past week, mirroring the overall scrap market.
CME Group Inc.s U.S. Midwest No. 1 busheling ferrous scrap futures held steady, with no trades recorded.
So far in January, 1,140 tons have been swapped on the futures exchange (amm.com, Jan. 11). Februarys bids are at $380 per gross ton, putting the contracts spread at $20 as offers stand at $400 per ton. The contract is settled based on AMMs Midwest Ferrous Scrap Index for No. 1 busheling.....
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