Emerging trends on the ferrous scrap futures exchange suggest limited upside potential for No1 busheling, with next month's settlement projected to inch up just $2.06 per gross ton from November and contract quotes declining from December 2018 to May 2019, according to the CME Group.
Open interest on the contract is now 3,629 lots (72,580 gross tons) after another 32-lot trade was concluded on Friday November 16. Of that, four lots are set to expire in December, another four...