Hot Rolled Futures: Will HRC Prices test the $400/ton Level?

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.

This is yet another headline to which we might prefer to reply with another resounding “No!”, but the facts can’t be changed and the reality is that recent trades for November futures put us very much within striking distance of a $400/ton level on HRC forward months. As usual we will compare the most recent settlement price for futures with where they settled when we wrote our last piece.Here is how it looks:

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.

Spencer Johnson

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