Scrap futures stagnant as market shows little interest

Nov 14, 2013 | 10:20 AM | Lisa Gordon

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

PITTSBURGH — The scrap futures market registered no trading activity for a third consecutive month, with the recent inflation of prices unable to draw potential players off the sidelines.

Trading volumes for CME Group Inc.’s U.S. Midwest No. 1 busheling ferrous scrap futures contract remained at zero in October. The contract is based on AMM’s Midwest Ferrous Scrap Index for No. 1 busheling, which settles on the 10th of each month. The....

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