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    September 10, 2015

    Hot Rolled Futures: Showing Limited Upside

    Written by Spencer Johnson

    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.

    Sometimes when we offer articles for this publication we worry that they may strike some readers as overly pessimistic or bearish in their outlook. Our first reply to this is that the market DOES remain in a contango, even if that contango appears to be decaying rather rapidly. Upside is expected, its just that the amount of it has been dwindling along with the spot price.

    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.

    Read more from Spencer Johnson

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