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    December 3, 2013

    November Hot Rolled Futures Trading

    Written by Jack Marshall

    For CME Group hot rolled coil (HRC) volume – November 2013 volume 3,869 contracts traded (77,380 short tons) compared to November 2012 volume 2,198 contracts traded (43,960 ST) – a 37.1 percent increase year over year.

    HRC 2013 YTD volume 51,163 contracts traded versus 2012 YTD volume 41,455 contracts traded – a 23.4 percent increase year over year.  Given that each futures contract traded has both a buyer and a seller we have seen over 2 million short tons hedged this year.

    Comparing changes in “open interest” – both new buyer and new seller entering the HRC futures market. Open Interest year on year comparison – November 2013 14,619 contracts versus November 2012 12,902 contracts – a 13.3 percent increase. Open Interest for November 2013 was 2.4% lower than October 2013 – 14,982 contracts.

    Jakc Marshall, SMU Contrubutor

    Jack Marshall

    Jack Marshall has over 30 years of experience trading and marketing financial futures and swaps, including currencies. Before joining Crunch Risk in 2012, Marshall was responsible for Forex Origination for BofA Merrill Lynch in their Chicago office. For Crunch Risk, he focuses on Ferrous scrap futures and helps manage client communications. Marshall is a regular contributor to the Steel Market Update newsletter covering topics including steel and steel scrap futures. He is NFA registered Associated Person and holds a Series 3 license. Marshall can be reached at jack.marshall@crunchrisk.com.

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