NYMEX US Midwest Hot Rolled Coil Steel Specification

Trading Unit
20 short tons.

Price Quotation
U.S. dollars and cents per short ton.

Tick Value
$5.00 per ton

Trading Hours (All times are New York time)
Electronic trading is conducted via the CME Globex® trading platform from 6:00 PM Sundays through 5:15 PM Fridays, Eastern Time, with a 45-minute break each day between 5:15 PM and 6:00 PM. Off-Exchange transactions can be submitted solely for clearing to the NYMEX ClearPort® clearing website as an exchange of futures for swaps (EFS) or exchange of futures for physicals (EFP) transaction until 5:15 PM, Monday through Friday, and the day preceding a holiday.

Trading Months
18 consecutive months.

Last Trading Day
Trading terminates at the close of business on the last business day prior to the fourth Wednesday of the contract month.

Settlement
Financial

Trading Symbol
HR
NYMEX Launches Domestic Hot Rolled Coil Steel Futures 20 Oct 2008

The New York Mercantile Exchange has launched a futures contract based on prevailing market prices for hot-rolled steel coil in the U.S. Midwest region.

The contract size is 20 short tons with a minimum price fluctuation of 50 cents per short ton and is listed for 18 consecutive months.

Final settlement on the monthly contract will be the average price calculated for all available price assessments published for that given month.

The steel futures contract is available for trading on the Chicago Mercantile Exchange Globex electronic trading platform, and off-exchange transactions can be submitted for clearing via Nymex ClearPort.

The price assessments are based on actual spot transactions reported by CRU - Commodities Research Unit.