Although the exchange has continued to work on plans to
launch steel futures, New York Mercantile Exchange (Nymex) last
week played down the possibility of a steel futures launch in
the near future.
Reports have recently emerged suggesting that the New York
exchange was planning a contract based on the price of steel,
as opposed to a physically delivered contract. However, the
exchange declined to be interviewed on the subject and a
spokesperson said that it was "still in the research stage of
developing a steel futures contract" and did not have a target
launch date in mind.
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