The London Metal Exchange (LME) launched its LME Steel HRC Shanghai futures contract on October 27, 2026, providing international market participants with access to China's hot rolled coil (HRC) futures benchmark. The launch marks the first time the Shanghai Futures Exchange (SHFE) has licensed a metals price for trading on another exchange.
The cash-settled contract, traded under the code HS, comprises lots of 10 metric tons, with prices quoted in US dollars/mt and monthly maturities extending to 12 months.
According to the exchanges, the contract offers steel producers, traders and consumers an additional tool to manage price exposure in international HRC trade. Its settlement structure reflects liquidity patterns in the underlying SHFE market.
According to LME data, total cleared volume reached 2,513 lots on the first trading day.
