LME Plans Steel Billet Contract Extension

The London Metal Exchange may extend the term of its steel billet contract to three years.

The London Metal Exchange (LME) may extend the term of its steel billet contract to three years, Platts reports. The commodities exchange currently has a 15 months steel billet contract. The extension, which is under discussion, was recommended by the bourse’s steel committee. The move if approved is expected to come into effect by the start of next year, LME’s business development head, Chris Evans said.

Click here for the story from Platts.