Prices
September 21, 2017
Hot Rolled Futures: An Ugly Week
Written by David Feldstein
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel Market Update, Dave produces articles that our readers may find interesting under the heading “The Feldstein” on the Flack Global Metals website, www.FlackGlobalMetals.com. Note that Steel Market Update does not take any positions on HRC or scrap trading and any recommendations made by David Feldstein are his opinions and not those of SMU. We recommend that anyone interested in trading HRC or scrap futures enlist the help of a licensed broker or bank.
Ugly week out there folks. Since last Thursday, the October SGX iron ore future is down almost 10 percent and the October LME Turkish scrap future is down 7.3 percent. In the table below are today’s prices, and the weekly change is to the right of each product. Today, 5,000 tons of October, November and December CME HRC futures traded at $605. The October CME HRC future trading $605 wasn’t reflected by Bloomberg, but the weekly price change of down 3.2 percent reflects the $605 level.
