Rebar steel futures contract

In a similar move to those planned by some of its international rivals, the Dubai Gold and Commodities Exchange (DGCX) launches its own rebar futures contract on October 29. Each contract is to be for 10 tonnes of reinforcing bar. Three delivery months are to be offered at launch: initially December 2007, January 2008 and February 2008. Additional delivery months and a weekly delivery cycle are to be added as market liquidity grows.

The reinforcing steel bar contract is the first of four contracts targeted at the steel supply chain that the DGCX plans to issue. The others are for stainless steel, for flat products and for freight.

The New York Mercantile Exchange is expected to launch its steel futures contract later this year. The LME aims to start trading its steel futures contracts in April.

For full report on the DGCX rebar contract, see http://www.arabianbusiness.com/498917-dgcx-launching-steel-futures-next-month

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