Steel Futures

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Steel futures and options at CME Group are a cost-effective hedging tool to complement your strategy and minimize risk along the steel supply chain. Mitigate steel and steel scrap price exposure with exchange-traded, cash-settled futures.

Protect margins, hedge physical long positions, offer floating and fixed price physical transactions, and mitigate their steel price risk more effectively with Steel futures. The contract is settled against industry-approved price indices, disseminated by respected pricing agencies.

Hot-Rolled Coil Steel (CRU), Hot-Rolled Coil Steel (Platts), North European Hot-Rolled Coil Steel (Argus), Busheling Ferrous Scrap (AMM), HMS 80/20 Ferrous Scrap, CFR Turkey (Platts), and Iron Ore 62% Fe, CFR China (TSI) are part of CME Group’s global suite of Steel futures contracts

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Key Benefits

Financially settled against industry-leading price indices

Effective hedging mechanisms for mining companies, steel mills, steel service centers, distributors, merchants and end-users

Superior price transparency and dissemination of data

Competitive margin offsets between various ferrous and non-ferrous products

New to Hedging Your Steel Price Risk?

If you are new to the concept of hedging your Steel price risk, our educational module and video could help you to gain more insights on how you could benefit from hedging your Steel price exposure with CME Group Steel Futures.

    Learn more about Steel

    CME Institute offers a variety of courses to help you understand how to hedge steel price risk using CME Group futures contracts.

    Start learning

    Download the Steel Futures and Blocks Grid

    If you are already a CME Direct user you can easily download and apply the CME Direct grid for Steel Futures.

    1. Right click on the button below
    2. Save the file as an .XML on your computer
    3. In CME Direct, select import view in the main menu
    4. Import the grid into CME Direct

    HRC Futures (.xml) HRC Blocks (.xml)

    Steel Futures Product Information

    Clearing Globex Floor ClearPort Product Name Exchange Product Group Subgroup Category Subcategory Cleared As Volume Open Interest
    HR HRC - HR U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Futures COMEX Metals Ferrous - - Futures 1,439 45,081
    BUS BUS - BUS U.S. Midwest Busheling Ferrous Scrap (AMM) Futures COMEX Metals Ferrous - - Futures 391 6,427
    EHR EHR - EHR North European Hot-Rolled Coil Steel (Argus) Futures COMEX Metals Ferrous - - Futures 92 1,644
    HDG HDG - HDG U.S. Midwest Domestic Steel Premium (CRU) Futures COMEX Metals Ferrous - - Futures 0 100
    HRP HRP - HRP U.S. Midwest Hot-Rolled Coil Steel (Platts) Futures COMEX Metals Ferrous - - Futures 0 0
    FSF FSF - FSF HMS 80/20 Ferrous Scrap, CFR Turkey (Platts) Futures COMEX Metals Ferrous - - Futures 0 0
    Trade Date: 27 Jan 2022 | PRELIMINARY

    Steel Essentials

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