Steel Futures in the future?

Whats the point of having a metal futures contract without an actual delivery? I think it kind of defeats the purpose of having a "futures" contract.

There is a futures contract for silver, so why not steel? I cannot believe they haven't thought of this much earlier.
 
Ya its pretty obvious it was needed years ago. It would straighten out the entire industry, but I guess they think the spot market is too big and they dump at all kinds of prices. I think it will be a very nice instrument though, seeing the trends and volatility that steel has had in the past.
 
Quote from Ripley:

Whats the point of having a metal futures contract without an actual delivery? I think it kind of defeats the purpose of having a "futures" contract.

There is a futures contract for silver, so why not steel? I cannot believe they haven't thought of this much earlier.
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I read an article from SFO and they have climate futures in Europe.

I don't think there is delivery for stock index futures, and why are we trading it?
 
delivery would be very expensive...You(company) really only care about losing a value position, so that is why they trade value positions instead.
 
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