LME open to consider new ferrochrome, stainless scrap futures contracts: BIR

"One thing we have learned at the LME is that we need to listen to the industry, and if the chromium, ferrochrome and stainless steel industries come together and tell us: 'Help us, we want an LME contract', we would be interested to have this this conversation," Xodo said.

"A physically delivered [ferro-chrome] contract could be difficult because there are very different segments of the ferrochrome market," Xodo added. "However, for a cash-settled futures contract, we would be very happy to discuss with the industry."

This follows the discontinuation of the quarterly European ferrochrome benchmark, or EUBM, price from June 2024 by South African miner Merafe Resources, which was announced on May 20.