The interactive hedging tool is designed to help anyone interested in managing steel price risk to better understand the process of hedging, the benefits and the financial outcomes of different sector-specific example scenarios.

The simulator enables those from all aspects of the steel supply chain, including producers, rerollers, the construction industry and steel merchants, to select their own requirements and to track the progress of a hedging programme through to its financial conclusion. It incorporates interactive illustrations of different hedging strategies and an explanation of key LME trading terms.

Commenting on the launch, Liz Milan, LME steel project director said: "The steel hedging simulator has been developed in direct response to interest from the physical steel industry and from the LME's member firms. I would encourage any organisation looking to understand the process of hedging, and the potential benefits, to try out the LME steel hedging simulator."