On October 1, the London Metal Exchange (LME) said that it has seen record steel trading in September for the seventh consecutive month, with 27,788 lots of LME steel billet traded, equivalent to more than 1.8 million metric tons of material.
As SteelOrbis previously reported, in mid-August the LME had announced the addition of Chicago and Detroit to New Orleans as points of good delivery in the US for LME-registered steel billet, with effect from November 16. Having storage facilities in these locations will enable industry in North America to utilise the contract, the LME said.
In the last month, the LME also added a new steel billet brand, Thamesteel Sheerness, from UK producer Thamesteel Limited. LME now has 44 steel brands listed from producers in 16 different countries.