It is reported that the first physical delivery for dominant RB0909 and WR0909 futures contracts were successfully conducted on September 22nd.

As per report, about 26,700 tonnes of RB0909 contracts were delivered with final settlement price of CNY 3634 per tonne and total amount of CNY 93.89 million.

Besides, about 3000 tonnes of WR0909 contracts were delivered with final settlement price of CNY 3650 per tonne and total amount of CNY 10.91 million.

Main sellers include steel mills and traders. And most buyers are end consumers and traders.

By now, rebar futures contracts with 17 brands from 16 steel mills have totaled some 33 million tonnes accounting for over 45% of key steel makers' outputs in 2008.

Wire rod future contracts with 16 brands from 13 steel mills have amounted to 27 million tonnes accounting for 50% of key steel mills outputs by the end of 2008.

(Sourced from MySteel.net)
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