Broker Freight Investor Services (FIS) says it has completed its first China steel-swap trade for hot-rolled-coil (HRC).
It was cleared at LCH.Clearnet and was between Stemcor, said to be the world’s largest independent steel trader, and Macquarie Bank.
To be settled against the Cleartrade China Steel Index, the swap was concluded for the November period at a price of $650 per metric ton.
FIS
