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    April 24, 2014

    Hot Rolled Futures: Now What?

    Written by Andre Marshall

    The following is an analysis of trading over the past week in the financial markets, especially in the hot rolled coil derivatives (futures) and busheling scrap futures markets. This article was written by Andre Marshall, CEO of Crunchrisk, LLC and the instructor for the Steel Market Update Managing Price Risk series including our newest addition: Managing Price Risk II: Strategies & Execution which will begin taking registrations for tomorrow. Dates are June 24 & 25, 2014 in Chicago. More details will be on our website on Friday, April 25th. By the way, if any of the article below is gibberish to you then you are a candidate for our Managing Price Risk I workshop. If you understand most of it and now you want to learn how to incorporate it into your business, you are a candidate for our Managing Price Risk II: Strategies & Execution workshop.

    Financial Markets

    Andre Marshall

    Read more from Andre Marshall

    Latest in Prices

    Mills seek more scrap after lower prices fail to attract tons

    Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.