No one expected steel futures to steal the spotlight from and outshine the physical market overnight. It simply wasn’t on the cards. Too much tradition, too many entrenched commercial relationships, too diverse a product mix, and too little familiarity with the dynamics of the futures market and exchange trading.
Add to that the resistance that comes with the prospect of quantum change and a market landscape that appears tranquil compared to the hyper-volatile conditions that characterize the current ferrous metals arena.
More than a decade-and-a-half since early proponents first launched efforts to make futures a fixture of deal making, read how the tonnage transacted on CME Group in 2019 marks the highest monthly volume recorded in the history of Steel Futures since its’ launch in 2003