Abstract
Relationship between Oxidation of Metal Surface Layer and Air Quality in Wuhan
Highlights
Steel is one of the most important alloys in the world
Global steel production has increased by leaps and bounds in the last few decades, from 568 million tons in 1980 to 1548 million tons in 20122
In the last decade, the steel industry witnessed the introduction of several futures contract, to assist the process of steel price risk management
Summary
Steel is one of the most important alloys in the world. It is used to make a variety of products that are used in agriculture, construction, healthcare, industry and transportation. High price volatility affects the economic decisions of steel manufacturers, merchants and users in several industries, in automotive and construction industries. There are several varieties of steel that fall under the flat and long products categories [1,2]. These varieties differ in chemical composition, dimensions and other parameters. Given the sheer size of the industry and the importance of the alloy for business, it was inevitable that a hedging tool be developed to effectively manage steel price risk. In the last decade, the steel industry witnessed the introduction of several futures contract, to assist the process of steel price risk management.
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