- Contract Specifications
- Execution Fee
The steel industry is highly segregated with numerous steel products available. Steel products can be either classified as flat products, used in the automobile, shipping and white goods industries or long products which are used in the construction industry. Steel is an indispensable building block of the global economy and the developing economies of Asia.
With an active physical market, steel prices have become volatile and unpredictable over recent years, making planning increasingly difficult. With this price volatility, it has become increasingly important for miners and steel mills to hedge their risk through the paper market. Also, more industry participants have realized that index-based pricing offers a sustainable mechanism better suited to the challenges of today’s market conditions.
Steel Futures: Contract Specifications Northern Europe HRC: SCN
Southern Europe HRC: SCS
Turkish Import Scrap: SST Lot Size 20 Metric Tonnes Currency EUR USD Minimum Tick EUR 0.01 USD 0.01 Forward Curve In respect of daily settlement, it will be the end of day price as supplied by approved OTC Brokers. In respect of final settlement, it will be the mean of all the daily TSI indices spot assessments during the contract month. Index Provider The Steel Index (TSI) Contract Series Months, quarters and calendars out to a maximum of 36 months Expiry Last business day of the contract month Settlement The first business day following the expiry day Clearing House LCH
Trader Membership Fee Free Screen User Fee Free Fee Basis Per Metric Tonne Fee Value US Dollar Volume (mt/month) Effective Rate 0 – 5,000 $0.40 5,001 – 10,000 $0.35 More than 10,000 $0.30
*General Terms of business
1) CLTX reserves the right to modify prices
2) Prices published serves as a point of reference and fees may vary across different market participants.