Whirlpool enters steel futures market

Friday, 12 March 2010 01:10:41 (GMT+2)

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Whirlpool Corp., one of the world's largest appliance makers, has joined other major steel consumers such as General Motor Corp. and Ford Motor Co. in hedging steel as part of its production materials sourcing program.  

Whirlpool will use the futures contract for hot rolled steel coil on the New York Mercantile Exchange (Nymex) in order to hedge against volatility in prices. 

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