Scrap futures sleep through pricing lull

Apr 12, 2013 | 03:20 PM | Lisa Gordon

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

PITTSBURGH — The scrap futures market has been eerily quiet following an influx of activity in early March that resulted in the fledgling contract’s second-strongest performance since its September launch.

Activity in April has been silent, with no trades since early March, possibly due to expectations that the market was going to slide.

In March, trading volumes for CME Group Inc.’s U.S. Midwest No. 1 busheling ferrous scrap futures contract totaled 5,280 gross tons, just shy of the 5,340 tons recorded in January (amm.com, Feb. 5). ....





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