The London Metal Exchange has approved Ravenna as a new point of goods delivery for non-domestic Steel Billet. When the approval comes into effect in September it will result in an increased steel delivery to Italy as the Italian port will enable further warehousing and delivery across Europe.

LME Steel Billet is now listed in 12 locations, spread across seven countries, and the increase in delivery locations can partially be put down to the fact that average daily volume has increased 46% to 1,042 lots.

“Ravenna will bring further flexibility to those delivering or taking delivery of LME steel,”said Chris Evans, Head of Business Development. “We’re adding new locations and new brands constantly – all of which is helping add new liquidity to the contract.”