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U.S. Midwest Busheling Ferrous Scrap (AMM) Futures Contract Specs

Contract Unit 20 gross tons(gt)
Price Quotation U.S. dollars and cents per gross ton
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation 1.0 per gross ton = $20.00
Product Code CME Globex: BUS
CME ClearPort: BUS
Clearing: BUS
Listed Contracts Contracts listed for 24 consecutive months
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the price assessment published on the 10th of that given calendar month for the Steel scrap No1 busheling, index, delivered Midwest mill, $/gross ton. If 10th falls into a holiday or weekend, the price will settle on the immediately following business day. 
Termination Of Trading 10th of the month, if 10th is a holiday/weekend, it will settle on the immediate following business day
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 601
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing