Iron Ore & Steel

A broad range iron ore and steel derivatives tradable with Sucden Financial's experienced team.

Iron ore futures and swaps

Iron Ore futures and swaps are traded on exchange or over-the-counter (OTC).

The contracts are cash settled, without any physical delivery. They are cleared on either the Chicago Mercantile Exchange (CME) or the Singapore Exchange (SGX).

Who uses iron ore futures and swaps?

Iron Ore Producers

  • Secure long term fixed sales price to lock in revenue
  • Hedge against iron ore price drops

Steel Mills

  • Secure long term fixed prices to lock in input cost
  • Manage exposure to volatile spot iron ore prices whilst retaining supply certainty with preferred producers


  • Hedge future physical sales and purchases
  • Protect a physical stock position against a fall in prices


Iron ore futures and swaps contract specifications links:


Steel contracts

LME: Steel Rebar and Steel Scrap.

CME: HRC (Hot Rolled Coil) and US Scrap and Black Sea Billet (traded on NYMEX).

LCH: European HRC (Hot Rolled Coil) and Turkish Scrap.

SGX: Asian Hot-Rolled Coil (HRC).

Industrial Commodities
Tel: +44 (0)20 3207 5430

QMR Report October 2019