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U.S. Midwest Shredded Scrap (Platts) Futures Contract Specs

Contract Unit 20 gross tons(gt)
Price Quotation U.S. dollars and cents per gross ton
Trading Hours Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
Minimum Price Fluctuation 1.00 per gross ton = $20.00
Product Code CME Globex: SHR
CME ClearPort: SHR
Clearing: SHR
Listed Contracts Monthly contracts listed for 24 consecutive months.A monthly contract will be added following the termination of trading in the spot month contract.
Settlement Method Financially Settled
Floating Price The floating price for each contract month is equal to the final daily print of the Platts Shredded Delivered US Midwest price assessment in the contract month. 
Termination Of Trading Trading terminates on the last business day of the first week, that begins on a Monday, of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook COMEX 925
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing