Industry positive on prospects for LME steel contracts

摘要

The industry players and tradersin both physical and financialmarkets are backing the LondonMetal Exchange's new steelderivatives contracts, bodingwell for the exchange's bid tomake inroads into the new market.With US bank Goldman Sachs,top global steel trader Stemcorand top global metals recyclerSims Group on board, the LMEwill launch the cash-settledcontracts next month, hoping tomake money in the fast evolvingferrous derivatives market.