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The Chicago Mercantile Exchange (CME) began trading steel futures contracts Monday, four years more or less after what is now its Nymex subsidiary originally announced plans to list the commodity. Things are going absolutely swimmingly, with a total of zero contracts traded in the first four days.

But, as American Metal Market reported in Friday’s edition, price discovery proceeds apace. 

SteelFuturesI

But, it gets better.

SteelFuturesII

And, believe it or not, better.

SteelFuturesIII

Brilliant! 

Disclosure: Short Nucor (NUE), CME. And, after clipping chunks into the recent poopage, quietly hoping some kind soul will run them back up so I can reload.

Source: New Milestones in Price Discovery