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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NOW LIVE: European Steel Options

North European Hot-Rolled Coil Steel (Argus) Average Price Options will be based on the price assessment published by Argus Media each business day of the contract month. The options will be quoted in euros per metric ton and have a contract size of 20 metric tons.

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Contract specs

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 801 29,769
    BUS BUS - BUS U.S. Midwest Busheling Ferrous Scrap (AMM) Futures COMEX Metals Ferrous - - Futures 445 6,409
    EHR EHR - EHR North European Hot-Rolled Coil Steel (Argus) Futures COMEX Metals Ferrous - - Futures 196 2,453
    HDG HDG - HDG U.S. Midwest Domestic Steel Premium (CRU) Futures COMEX Metals Ferrous - - Futures 0 231
    HRP HRP - HRP U.S. Midwest Hot-Rolled Coil Steel (Platts) Futures COMEX Metals Ferrous - - Futures 0 0
    EHO EHO - EHO North European Hot-Rolled Coil Steel (Argus) Average Price Option COMEX Metals Ferrous - - Options 0 0
    FSF FSF - FSF HMS 80/20 Ferrous Scrap, CFR Turkey (Platts TSI) Futures COMEX Metals Ferrous - - Futures 0 0
    Trade Date: 28 Jun 2022 | FINAL

    Steel Essentials

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