FLACK GLOBAL METALS EXECUTES FIRST TURKISH SCRAP OPTIONS CONTRACT
SCOTTSDALE, Ariz., April 8, 2025 /PRNewswire/ -- Flack Global Metals (FGM), an industrial manufacturing, distribution, and capital markets firm, announced today its role as a counterparty to the first Turkish scrap options contract offered by CME Group, the world's leading derivatives marketplace.
The "Turkish" moniker represents the source of the price discovery, but this is a globally traded commodity that provides risk management and other hedging tools for the ecosystem.
"We are pleased to be involved in getting this contract off the ground, and it further cements our status and reputation in providing robust risk management tools to the steel industry," said Brad Clark, Vice President of Capital Markets and Metal Trading at Flack Capital Markets. Flack Capital Markets is a division of FGM that boasts the most sophisticated capital markets desk in the ferrous metals space.
"Recycled scrap metals are a vital component of steel production, and our clients continue to ask for additional flexibility to hedge their exposure effectively," said Jin Hennig, Managing Director and Global Head of Metals at CME Group. "We are pleased to see participation in our new Turkish scrap metal options, which will provide the ferrous supply chain with even more tools for managing their price risk."
This trade comes on the heels of FGM's recent involvements in the first European hot rolled steel options trade and first Busheling Ferrous Scrap Futures contract, further reinforcing its position as an innovator in employing sophisticated risk management and hedging techniques.
About Flack Global Metals
Flack Global Metals (FGM) is an industrial manufacturing, distribution and capital markets firm specializing in the construction products industry. FGM buys, sells, manufactures, trades and invests in flat-rolled steel goods. Its four distinct divisions work together to integrate and de-risk the steel supply chain, from raw steel to finished products. By leveraging proprietary hedging strategies and market intelligence, FGM effectively manages price volatility, delivering comprehensive solutions to its customers. Headquartered in Scottsdale, Arizona, FGM serves a global market with offices in Atlanta, Chicago, Cleveland, London, and Lugano.
Media Contact
Haley Rowland, FGM Director of Marketing & Communications
678-995-4156 | hrowland@flackglobalmetals.com
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SOURCE Flack Global Metals