Busheling Scrap Futures
The CME Group Ferrous Metals products enable commercial producers and users of these metals to lock in margins and manage price risk. This product suite consists of outrights and options. In addition, they:
- Offer hedging opportunities throughout the steel supply chain, from steel mills to steel service centers, distributors, merchants and end-users
- Reflect the growing use of index-based pricing, in tandem with the increase in steel price volatility
- Provide price assessments based on actual spot transactions in the market, with all the data providers directly involved in buying and selling the relevant steel product on the spot market
Things to know about the contracts
- Financially settled
- Based on the index price of U.S. Midwest #1 Busheling Ferrous Scrap
- Traded electronically only, on CME Globex
Below is a chart showing the forward curve for BUS, with an additional line showing what the futures prices was four weeks ago. There is also a tab to view the data behind this chart.
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