scrap futures market continues to struggle to gain momentum,
with no real positions taken on the contract since July.
After posting three
consecutive months of no trades, Novembers trading
volumes for CME Group Inc.s U.S. Midwest No. 1 busheling
ferrous scrap futures contract totaled two lots equivalent to
The small position was
taken by a party who is interested in testing the market to
better understand how it works, one futures player said.
The CME contract is
based on AMMs Midwest Ferrous Scrap Index for
No. 1 busheling, which settles on the 10th of each month. The
December index settled at $436.37 per ton, up 1.2 percent from
$431.18 per ton in November.
are at $430 per ton and offers at $445. This compares with $405
and $420 per ton, respectively, in November. Januarys
bids are at $420 per ton and offers are at $430 per ton.