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HMS 80/20 Ferrous Scrap, CFR Turkey (Platts) Futures Contract Specs

Product Symbol FSF
Venue CME ClearPort, Open Outcry (New York)
(All Times are New York Time/ET)
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT)
Contract Size 50 metric tons
Price Quotation U.S. Dollars and Cents per metric ton
Minimum Fluctuation $0.01 per metric ton ($0.50 per contract)
Floating Price The Floating Price for each contract month is equal to the average price calculated for all available price assessments published for “HMS 80/20 Ferrous Scrap – CFR Turkish Port” for that given calendar month by Platts (Platts).
Termination of Trading Trading terminates on the last business day of the contract month (follows the UK banking holiday schedule).
Listed Contracts Trading is conducted in 24 consecutive months
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 867
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.