Firms to launch OTC steel derivatives

Metals firms involved in London Metal Exchange (LME) consultation on its proposals for steel derivatives are launching their own contracts. London-based Koch Steel, a subsidiary of Koch Industries Group and Sempra Metals, part of the Sempra Metals Group (SMG), are both headed by former Enron executives who were involved the fallen energy giant's steel operations.LME unveiled its proposals for three steel futures in April which included...