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Steel billet contract specificiations

The LME currently trades two regional steel billet futures contracts for the Far East and Mediterranean regions.

Steel contracts to go global

During 2010 the LME will begin trading a single global steel billet futures contract. The existing regional steel contracts will be merged to provide a global futures price for steel billet. Trading and physical specificiations for the global contract will mirror the existing regional contracts.

Trading specifications

Each regional contract is traded in an identical manner on the exchange.

Delivery dates Daily from cash to 3 months (first prompt date two working days from cash) . Then every Wednesday from 3 months to 6 months. Then every third Wednesday from 7 months out to 15 months
Quotation US dollars per tonne
Clearable currencies  US dollars
Minimum Price Movement

Ring - Outright $0.50, Carries $0.01
LMEselect - Outright $0.10, Carries $0.01
Inter-office  - Outright/Carries $0.01

Physical specifications

Include: quality, shape and length, lot size and delivery location.

Check the specifications for each region:

All Steel Billets placed on warrant must be from the production of those Brands named in the LME-approved list.

Delivery locations

Storage facilities have been approved for the delivery of LME steel billet in the locations below:
  • Tekirdag and Marmara, Turkey
  • Dubai, United Arab Emirates
  • Rotterdam, The Netherlands
  • Antwerp, Belgium
  • Incheon, South Korea
  • Johor, Malaysia

Material Specifications
Title of document - 100KB Steel Billet Contract Specifications

DOWNLOAD ( PDF KB )
Steel Billet Guidance Notes
Title of document - 100KB Steel Billet Guidance Notes
Registration of steel billet production - guidance notes for applicants
DOWNLOAD ( PDF KB )
 
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