Prices
May 5, 2016
Hot Rolled Futures: Hay Caramba!
Written by Jack Marshall
The following article on the hot rolled coil (HRC), busheling scrap (BUS), and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how he saw trading over the past week:
For those of you who don’t know, it’s Cinco De Mayo! So I say “Hay Caramba”. If you want to take that as a reaction to our Presidential election environment, or scrap/steel prices moving up abt. $100/ST in a month, or the 5th Nuclear warhead test coming up by N. Korea, take your pick. The S+P 500 meanwhile has bounced around up near the highs. We are last 2044 on the June future which is abt. 2.5% off the recent high on the April 29th and likely on its way to test the all-time high just above 2100. We look poised to set new highs before this is over. “Hay Caramba”!
