U.S. Midwest Busheling Ferrous Scrap (AMM) Futures - Contract Specs
| Contract Unit | 20 gross tons |
|---|---|
| Price Quotation | U.S. dollars and cents per gross ton |
| Trading Hours | Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET) |
| Minimum Price Fluctuation | 1.00 per gross ton = $20.00 |
| Product Code | CME Globex: BUS CME ClearPort: BUS Clearing: BUS |
| Listed Contracts | Monthly contracts listed for 24 consecutive months |
| Settlement Method | Financially Settled |
| Floating Price | The Floating Price for each contract month is equal to the price assessment published on the 10th of that given calendar month for the Steel scrap No1 busheling, index, delivered Midwest mill, $/gross ton. If 10th falls into a holiday or weekend, the price will settle on the immediately following business day. |
| Termination of Trading | Trading terminates on the 10th day of the contract month. If the 10th day is not a business day, trading terminates on the next business day. |
| Settlement Procedures | |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
