London Metal Exchange (LME) broke away from its non-ferrous expertise with the hard launch of its steel billet futures contract on April 28.
The exchange rolled out two regional contracts for Mediterranean and Far East delivery and saw 15 of the former change hands and a single Far East contract trade during the first open outcry session. Prices reached a healthy $1,005 per tonne. There will be two separate prices for the contracts from the first delivery date, July 28....