London Metal Exchange (LME) has announced the approval of the "ZHUHAI YUEYUFENG" brand of Chinese steelmaker Zhuhai Yueyufeng Iron & Steel Co., Ltd. for the Exchange's Mediterranean and Far East steel billet futures contracts.
Zhuhai Yueyufeng Iron & Steel Co., Ltd. has an annual billet production capacity of 2,000,000 mt.
So far, 31 brands have been listed by 31 producers as good for delivery against the LME steel futures.