GCX Exchange
Notes from the physical metals market
How the exchange matches orders, how a deal is priced and delivered, and what is moving in the market — written for people who trade metal, not for search engines.
What we write about
Four sections. Each one is where a question actually comes up in a deal, not where a keyword happens to sit.
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Market review
What moved in hot-rolled coil, rebar and pipe, and what moved it: supply, demand, freight and currency — read together rather than one at a time.
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Logistics and delivery
Incoterms, transport, shipment weeks and points of sale. The part of a deal that decides whether the agreed price still holds when the metal arrives.
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Documents and regulation
Contracts, certificates, HS codes and customs. What has to be in order before metal crosses a border, and what happens when it is not.
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Trading practice
How matching, deposits and dispute resolution work on the exchange, and why the rules are written the way they are.
Articles
The first notes are being written
There is nothing to read here yet. The sections above are live, and the first pieces will appear in them as they are written.
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