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.
thyssenkrupp is to fit the first cement plant with a system for the production of calcined clayfor the... Read more
In a letter to the Federal Motor Carrier Safety Administration (FMCSA) in the USA, the National Grain... Read more
As a result of separate actions by the Premier of Quebec and the President of South Africa to contain... Read more
Cargill, one of Europe's largest alcohol producers, has donated a first batch of 60,000 liters of disinfecting... Read more
BHP has outlined the steps it is taking to maintain the safety of its workforce and continuity of its... Read more
“Vale would like to update the market on the steps and policies it is taking to safeguard its... Read more
Rio Tinto’s Kennecott mine near Salt Lake City (SLC), Utah, was has been impacted as a result... Read more
Canada’s government has approved the U.S.-Mexico-Canada Agreement (USMCA), making it the third... Read more
Ahead of the publication of the Farm to Fork Strategy, a gathering of 11 EU organisations of the livestock... Read more
The coronavirus Covid-19 presents the global economy with its greatest danger since the financial crisis... Read more