Carmakers, parts stampers and other metal-hungry suppliers see the market as a way for them to lock in future prices as a hedge against big spikes. Automakers and suppliers are inspecting a potential new weapon in the war on steel price volatility. This fall the New York Mercantile Exchange will launch a futures market for domestic hot-rolled coil steel. Carmakers, parts stampers and other metal-hungry suppliers see the market as a way to lock in future prices as a hedge against big spikes. They also hope the market will provide a public posting of steel prices, in contrast to today's bazaarlike haggling.
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