First for SSY Futures
(Posted on 31/01/20)
SSY Futures Ltd is pleased to announce that it has arranged the first trade in Mid-Western Aluminium Delivery Premium options. The trade was for 250 metric tonnes per month of the contract for settlement basis the third quarter of 2020 against an index published by Platts. The call option has a strike of 17c per pound, and was at a premium of half a cent per pound.
“SSY Futures Ltd is already well known as a leading aluminium premium broker, so we are delighted to be a part of the first options trade on Mid-West Premium. As we continue our expansion into LME metals in the coming months this is another example of SSY working hard to offer our clients the full suite of metals products” said Ben Taylor, Senior Director of SSY’s metals team.
The trade will mitigate the risk on the delivery premium to the US Mid-West of 750 metric tonnes of Aluminium during July, August and September; it is a cash settled contract. The buyer and seller were leading commodity trade houses. The contract is listed and cleared by Comex, 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 Stamford, US. SSY Futures specialises in iron ore, coking coal and steel derivatives as well as Forward Freight Agreements. It is a wholly owned subsidiary of Simpson Spence Young.
Latest News
$8.4bn tax contribution by Rio Tinto
(Posted on 11/04/21)Rio Tinto has released its 2020 Taxes paid. The company’s economic contribution report, which... Read more
En+ director joins Aluminium Stewardship Initiative board
(Posted on 06/04/21)En+ Group, the world’s leading producer of low-carbon aluminium and independent hydropower, has... Read more
Project to monitor global fertilizer usage
(Posted on 01/04/21)The International Fertilizer Association (IFA) and agri benchmark Cash Crop have announced the start... Read more
Rusal invests over $1bn on environment in a decade
(Posted on 01/04/21)Rusal, a leading global aluminium producer, invested over USD1bn in environmental projects between 2011... Read more
World crude steel production rises
(Posted on 28/03/21)World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel... Read more
Rio Tinto selects solar technology for Boron mine
(Posted on 28/03/21)International mining and metals company Rio Tinto and renewable energy technology company Heliogen has... Read more
NGFA outlines priorities for transportation bill
(Posted on 22/03/21)The USA’s National Grain and Feed Association (NGFA) has urged lawmakers to prioritise improvements... Read more
British Steel to invest £100m this year
(Posted on 17/03/21)British Steel has announced that it is investing £100m this year to support the next stage of... Read more
Rusal announces 2020 results
(Posted on 17/03/21)Rusal, a leading global aluminium producer, has announced its results for the year ended 31 December... Read more
Power supply launch prepares smelter for commissioning
(Posted on 11/03/21)En+ Group, the world’s largest producer of low carbon aluminium and independent hydropower, has... Read more
