For producers, the sticking point is ceding pricing power

摘要

After years of planning and vigorous debate, steel futures have arrived, ushering in what could be the start of a fundamental shift in the pricing of one of the world's most important commodities. For major steel producers, this was the future that many of their executives rallied against. The fear is that forward steel contracts could transfer pricing power out of corporate hands and into those of speculators on commodity exchanges. Producers' resistance hasn't diminished as the number of futures contracts expands across the globe.