WSD (World Steel Dynamics) reconfirmed at the opening in Paris today of the Steel Success Strategies Europe Conference that NYMEX (New York Mercantile Exchange) and WSD are working together to bring future contracts for hot rolled band to the USA market, with a possible launch date of January 2008. The futures contracts for HRB will be for 20 tons each.
WSD claims the USA is positioned to be the epicenter of financial/futures transactions in finished steel products and scrap. NYMEX may make an announcement next month about the launch of the contracts, according to WSD CEO Peter Marcus.
NYMEX and WSD to bring HRB futures to US market
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