The Virtual Steel Mill

Virtual Steel Mill: A Comprehensive Approach to Derivatives for the Ferrous Industry

Spot and Fixed Forward Contracts add Flexibility and Hedging Opportunities to Ferrous Products

The potential power of the CME Group "Virtual Steel Mill" has captured the imagination of the ferrous industry more than any of the variety of steel and related ferrous cleared or exchange — traded contracts launched in the past few years, principally because the current product slate has attempted to retrofit steel into a non-ferrous model.

Our virtual steel mill provides Comprehensive Hedging Tools for the Volatile Ferrous Metals Marketplace. The ferrous metals market, which includes iron ore and steel and related products, is the second largest commodity market by volume. Ferrous Metal futures offer market participants the ability to manage price risk across the supply chain, in tandem with changing industry structure and demands.

Backed by CME Clearing, our suite of ferrous metals futures and related over-the-counter products are sent to CME for clearing, ensuring payment is made according to agreement. Join the growing number of steel mills, service centers, manufacturers and end users who enjoy the efficiency, economy, and security of managing ferrous industry price risk from one point of contact.

Key Service Features:

  • Financial Settlement
  • Margin offset across the metals product suite
  • Effective hedging mechanisms for mining companies, steel mills, steel service centers, distributors, merchants and end-users.

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Futures & Options Trading

As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through the CME Globex electronic trading platform and trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort.

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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX, and COMEX.