March Ferrous Metals Update

  • 17 Apr 2018
  • By CME Group
  • Topics: Metals

March Ferrous Metals Update

  • U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index futures – March was the second most active volume month, after January 2018, with 9,655 lots/193,100 short tons (+233% YoY).
  • U.S. Midwest Busheling Ferrous Scrap (AMM) futures volume for March was 779 lots/ 15,580 gross tons, third highest all time.
  • The U.S. administration applied 25% tariffs on steel imports on March 23. The EU, along with Canada, Mexico, Argentina, Australia, Brazil and South Korea were excluded from the levy.
  • HRC volumes continued to be robust as market participants looked to manage their price risk on exchange using futures.
  • On-screen market makers continue to quote during 9:00-11:00 a.m. Central Time.
  • Anglo American Plc announced it suspended Minas-Rio iron ore operations on March 29 in Brazil following a leak in the pipeline which carries iron ore in slurry form from the mine to an export terminal.

Ferrous Futures Month-on-Month Change in Forward Curve and Open Interest


US Ferrous Volume Growth


Trade the spread between BUS U.S. Midwest Busheling Ferrous Scrap (AMM) Futures and HRC U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Futures


Monthly Ferrous Volumes


If you have any questions or would like more information regarding this weekly communication, please contact metals@cmegroup.com.

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