The trading volumes of CME Group’s ferrous contracts have more than doubled this year due in particular to activity on the US Midwest busheling scrap contract and the US Midwest hot-rolled coil (HRC) steel futures contract, global head of metals Young-Jin Chang told American Metal Market at the group’s Precious Metals Dinner this month in New York. Daily volumes averaged 78 contracts for busheling futures in the year-to-date through August, and 497 contracts for HRC futures in the same period, a CME spokesperson confirmed via e-mail. “We’re seeing more of that market brought on screen,” Chang said. Indeed, electronic ... (full story)