This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

CME Group Announces Multiple Ferrous Metals Volume Records

CHICAGO, Nov. 7, 2013 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, announced it reached monthly volume records in its U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index futures and Iron Ore 62% Fe, CFR China (TSI) futures contracts in October. These contracts are listed by and subject to the rules of NYMEX.

During the month of October, U.S. Midwest Domestic Hot-Rolled Coil (HRC) Steel Index futures set a monthly volume record of 8,033 contracts, which surpassed the previous record of 6,872 contracts set in April 2013. Since the start of the year, combined futures and options on the U.S. Midwest Domestic Hot-Rolled Coil Steel Index have traded more than 55,714 contracts, which is equivalent to nearly 1.1 million short tons of steel.

Additionally, Iron Ore 62% Fe, CFR China (TSI) futures traded a record 3,404 contracts during the month of October, surpassing the previous record of 2,837 contracts set in July 2013. This is the equivalent of more than 1.7 million metric tons in the past month.

"Record trading in ferrous metals like HRC steel and iron ore futures played a role in the growth of our overall metals complex volumes during the month of October," said Harriet Hunnable, Managing Director, Metals Products, CME Group. "We're seeing greater participation by commercial participants, added liquidity on our CME Globex electronic trading platform and strong open interest in these markets as customers become more comfortable with our Virtual Steel Mill of risk management products."

Introduced in 2008, U.S. Midwest Domestic Hot-Rolled Coil (HRC) Steel Index futures were the first of CME Group's Virtual Steel Mill suite of ferrous metals products.

"Recent price volatility and greater disparity between domestic and foreign steel prices has resulted in more hedging of imports by commercial consumers of steel," said Jeremy Flack, Founder and President of Flack Steel. "Liquidity is building in CME Group's steel and iron ore futures as more participants, especially service centers, step up to the plate and recognize there are hedging and arbitrage opportunities available. We're especially encouraged by the growth of steel options, which is another sign of a healthy and liquid futures market."

In a recent blog post, CME Group highlighted additional factors contributing to the growth of its ferrous metals products and published an infographic that demonstrates how its Virtual Steel Mill of risk management products aligns with the steel supply chain.

As the world's leading and most diverse derivatives marketplace, CME Group ( www.cmegroup.com) is where the world comes to manage risk.  CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate.  CME Group brings buyers and sellers together through its CME Globex ® electronic trading platform and its trading facilities in New York and Chicago.  CME Group also operates CME Clearing, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.

CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc.  CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc.  KCBOT, KCBT and Kansas City Board of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc.  All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.

CME-G

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs