Singapore broker joins debut trading of LME Shanghai steel futures
The US dollar cash-settled contract uses a Shanghai Futures Exchange steel benchmark, linking it to trading on the London Metal Exchange.
Straits Financial Services Pte Ltd (SFSPL) said it took part in trading in Singapore on 27 October 2026 as the London Metal Exchange (LME) launched its Steel HRC Shanghai futures contract.
Settlement is in cash, denominated in US dollars, and is based on the Shanghai Futures Exchange (SHFE) price for hot-rolled coil steel. Commodity Pricing and Analysis Limited converts the benchmark price used for the contract.
According to SFSPL, the launch is the first instance of an SHFE metals price becoming tradable on a different exchange. The brokerage said the contract gives international participants more direct access to the Shanghai benchmark and supports price-risk management for producers, traders, investors and financial institutions.
Roger Quek, SFSPL's CEO and managing director, said the product adds to the instruments international participants can use to manage exposure to steel prices. SFSPL is part of Straits Financial Group.
