Futures

Hot Rolled Futures Prices Pop after Weeks of Malaise...
Written by Bradley Clark
July 31, 2014
The HRC futures market has continued its upward trend in the past few weeks with recent bullish events in the physical market supporting prices. While nearby periods remain firm with August and September trading around $650-660, further down the curve cal 15 prices have trended upwards trading up to $643. Similarly, Q1 and cal 15 prices have seen upward pressure trading between $635-645, with the bid moving up $5 / ton from last week.
Further news from the physical market of yet further consolidation with Severstal being sold to domestic mills has continued to support prices. So far, the summer lull has not materialized and with U.S. GDP at 4 percent growth the demand side looks to help prices extend further. Increasing tensions in the Black Sea continues to limit new imports on HRC from Russia, the fundamentals look to support the market through the end of the year.
Volumes have slowed a bit this week with about 10,000 tons trading over the past few days.
Below is our interactive graph depicting the hot rolled futures market. The graph can only been seen and interacted with when you are logged into the website and reading this article online (otherwise it just appears to be an empty space on your screen).
{amchart id=”73″ HRC Futures Forward Curve}
U.S. Midwest #1 Busheling Ferrous Scrap (AMM) Market Firming
The scrap market remains flat for the time being, but sentiment is slightly more bullish compared to last week. With increasing finished product prices, and strengthening raw material markets across Asia and Turkey, market sentiment moving into August is becoming more positive. The futures market has remained quiet with nothing trading however the market remains well bid down the curve between $390-400.
Another one of those pesky interactive graphs below – this time depicting ferrous scrap futures.
{amchart id=”74″ BUS Futures Forward Curve}
Bradley Clark
Read more from Bradley ClarkLatest in Futures

HR Futures: Nascent rally in HRC futures settles above 6-week downtrend
The CME Midwest HRC futures market’s response to Trump’s election and subsequent comments about blanket 25% tariffs on Canada and Mexico was surprisingly counterintuitive.

HR Futures: Market at crossroads after turbulent run
The market appears to be pausing after a turbulent run. But tension remains just beneath the surface. With net long positioning still elevated, sentiment-driven selling could quickly reignite volatility. Still, supply constraints and limited imports are laying the groundwork for a resilient physical market. This moment of calm feels more like a crossroads than a conclusion.

HR Futures: Traders’ views mixed as market navigates tariffs
A look at the HR futures market.

Market pressures trigger HR futures reversal
Market dynamics are shifting rapidly, with futures pricing diverging from physical fundamentals, creating a complex landscape for steel traders.

HR Futures: Correction in market after big rally
Another eventful week in the physical and financial steel markets is coming to a close, but with a markedly different tone than the last update at the end of February.