Ferrous scrap futures slump on stable prices

Sep 11, 2013 | 02:39 PM | Lisa Gordon

Tags  ferrous scrap, scrap futures, CME, Midwest No. 1 busheling, AMM Midwest Ferrous Scrap index, Lisa Gordon

PITTSBURGH — A stable raw material sector hasn’t helped the scrap futures markets, which barely had a pulse last month.

August’s trading volume for CME Group’s U.S. Midwest No. 1 busheling ferrous scrap futures contract fell to zero from 2,500 gross tons in July.

"The problem is futures have not done well when prices are stable. The sentiment is relative and carries over to other commodities," a futures broker said.....

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