Steel

Steel Billet Futures have been traded on the London Metal Exchange since April 2008.

Steel is an alloy consisting mostly of iron. It was produced by various inefficient methods many centuries ago, but it became more common after more efficient production methods were devised in the 17th century. It is now a relatively inexpensive mass-produced good, and is one of the most common materials in the world. It is a major component in buildings, tools, cars and domestic appliances.