Steel Futures Continue to Show Expectations of Limited Upside for HRC

The following article is written by Spencer Johnson of FC Stone LLC. With six years of experience, Spencer provides his customers strategic and tactical advice on protecting themselves against commodity price volatility in the steel markets. Spencer will rotate weekly futures articles with Andre Marshall of Crunch Risk, LLC. Spencer can be reached at spencer.johnson@intlfcstone.com.

Steel mills are still struggling to get any traction on the price increases they have attempted and spot pricing has generally continued trending sideways. Let’s revisit the table again and take a look at where we were a week ago and what is trading today (8/6/15):

Spencer Johnson

A broker at FCStone LLC, Johnson is a veteran in the world of steel futures. He has worked with every type of market participant to formulate risk management and trading strategies for steel derivatives. StoneX has also worked tirelessly to grow liquidity and provide access to new ferrous markets for its clients. Johnson is in addition one of the longest serving members of the London Metal Exchange’s steel committee.