The London Metal Exchange (LME) launched a futures contract linked to the Shanghai Futures Exchange’s (SHFE) hot-rolled coil price benchmark on October 27, 2026. Cleared volume reached 2,513 lots on the first trading day, the LME said.
The cash-settled contract trades under the code HS. Each lot represents 10 metric tons, prices are quoted in US dollars per metric ton, and monthly maturities are available for up to 12 months.
The exchanges said the new instrument will give steel producers, traders and consumers another way to manage price exposure in international hot-rolled coil trade. Its settlement structure reflects liquidity patterns in the underlying SHFE market.
This is the first time SHFE has licensed a metals price for trading on another exchange.
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