Scrap rise piques CME futures interest

Mar 14, 2013 | 01:03 PM | Lisa Gordon

Tags  busheling, ferrous scrap, scrap futures, Midwest No. 1 Busheling Ferrous Scrap Futures contract, CME, scrap prices, Lisa Gordon

PITTSBURGH — A sharp spike in physical ferrous scrap prices this month has sparked renewed interest in the ferrous scrap futures market as investors came off the sidelines in the nick of time to capitalize on the pricing jump.

CME Group Inc.’s U.S. Midwest No. 1 busheling futures saw 199 lots representing 3,980 gross tons swapped in the first 12 days in March alone, after 50 lots representing 1,000 tons were swapped in February, CME data show.....

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