The Chicago Mercantile Exchange (CME) Group announced Wednesday that beginning April 17, for a trade date of April 18, it is adding three new offerings of over-the-counter ferrous products:
Heavy melting scrap (HMS) 80/20 CFR Turkey swap futures; steel billet FOB Black Sea swap futures; and European hot rolled coil (HRC), ex-works Ruhr, Germany swap futures. The new offerings will be listed on CME ClearPort and the New York trading floor.
"We continue to expand our counterparty risk services for a number of new ferrous metal contracts in order to meet the risk management needs of our existing and potential clients in Europe, the Middle East and Asia," said Harriet Hunnable, Managing Director, Metals for CME Group. "By working closely with our customers this past year, we believe helping support their needs across the entire supply chain of products in the steel industry will allow them more flexibility in managing their risk exposure."