Welcome to http://www.srtsteelpipe.com
   
Threeway Steel-Seamless Steel Pipe, ERW Steel Pipe, LSAW Steel Pipe, SSAW Steel Pipe
Contact Us
Seamless Steel Pipe,ERW Steel Pipe,LSAW Steel Pipe,SSAW Steel Pipe,

Threeway Steel Co., Ltd

E-mail: sales@srtsteelpipe.com

Address: 22nd Floor, Royal Wing Tower, Long Champ International Building, No.9 Xiangfu Road, Changsha, Hunan, China, PC: 410116

Phone:0086-731-8873-9521  

Home - News > Industry NewsIndustry News

Platts, TSI Prices chosen to settle the new LME Scrap and Steel Futures contracts

Update:2015-11-23   View(s):1788   Keywords :
The London Metal Exchange (LME) is utilizing Platts and TSI's physical market price assessments for steel reinforcing bar (rebar) and steel scrap, respectively, to settle and clear two new ferrous futures contracts launched on Monday. 

Platts, a leading global provider of energy, metals and agriculture information and acquired The Steel Index (TSI) in 2011. Today's futures contracts launch follows the LME's October 27, 2015 announcement of its plans to use the Platts and TSI prices as the basis for settling its contracts.

"In launching the first cash-settled contracts in its 138-year history, we're delighted that the LME has recognized the quality of Platts and TSI's price assessments, not only as benchmarks in the physical markets, but for derivatives as well," said Andrew Goodwin, Platts general manager of metals, petrochemicals and agriculture.

The Platts Rebar FOB Turkey Price assessment is being used as the monthly settlement price of the LME Steel Rebar futures contract. The TSI Turkish Scrap Imports HMS #1&2 80:20 Price is being used as the monthly settlement price of the LME Steel Scrap futures contract.

"Turkey is traditionally the world's largest importer of scrap steel, a key input in making steel, and largest exporter of steel rebar used in construction markets world-wide," added Steven Randall, global director of content for Platts metals & TSI. "As such, these prices are benchmarks closely watched by the global steel industry. The LME's new contracts provide the industry with valuable hedging tools to help manage price risk in these volatile markets."

In addition to the LME, other global exchanges and clearing houses including the Singapore Exchange, CME Group, LCH Clearnet, Intercontinental Exchange (ICE), Borsa Istanbul and NASDAQ OMX, utilize Platts and or TSI price assessments for settling and clearing ferrous derivatives contracts.