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    SMU Busheling Scrap Futures

    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 were four weeks ago. There is also a tab to view the data behind this chart. This data is updated on Thursday evenings after daily prices have been finalized.

    CME Busheling Scrap Futures as of Aug. 17 (final)

    • CME BUS Scrap Futures Forward Curve Chart
    • CME BUS Scrap Futures Forward Curve Table

    CME HRC Futures Forward Curve as of Aug. 17, 2023