LME fob China HRC contract surpasses $1bn in trade
Another milestone for the steel insutry. As ARGUS fully detailed the event of this future contract surpassing 1bl USD in trade since launch, this should make many market players take few moments and think. I believe that in few years we are going to act in pricing steel as we already do in the other non ferrous metals, by linking the spot price offer to the spot price of the LME. Anyways, big change to come, as Beddows R. described in his fantastic book "STEEL 2050", a must to read for any steel market player.