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SSY Futures Ltd Arranges First Trade in CME’s New Hot Dipped Galvanized Steel Futures Contract.


15 June 2020

SSY Futures Ltd is pleased to report that it has arranged the first trade in the new HDG Futures contract.

The trade was for 100 tonnes per month for settlement basis the second half of 2020 against indices published by CRU which value the premium for Hot Dipped Galvanised Steel (HDG) over Hot Rolled Coiled Steel (HRC).

“SSY Futures Ltd is well known in its core area of Forward Freight Agreements, iron ore, coking coal and steel derivatives, it has also carved out a niche business in aluminium delivery premium futures and recently LME base metals, so we are delighted by this early success in the new HDG contract;” said Ben Taylor, a senior member of SSY’s metals team.

The trade, which was arranged by Hara Rigopoulou who heads SSY’s US metals business, will mitigate the risk on the premium paid for galvanised steel over regular steel and is a cash settled contract. The buyer and seller were a bank and a leading risk advisory group.

The contract is listed and cleared by Nymex, a division of The Chicago Mercantile Exchange.

SSY Futures Ltd is one of the largest Dry Bulk and Freight derivatives brokerages in the World with brokers in London, Singapore and New York.

SSY Futures specialises in iron ore, coking coal and steel derivatives as well as Forward Freight Agreements and more recently energy derivatives. It is a wholly owned subsidiary of Simpson Spence Young.

For more information on SSY’s broking services and daily reports contact:
duncandunn@ssy.co.uk or jamiepearce@ssysingapore.com