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    June 14, 2018

    Ferrous Futures Remain Strong

    Written by David Feldstein

    The following article on the hot rolled coil (HRC) futures market 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 steel futures enlist the help of a licensed broker or bank.

    CME Midwest HRC futures have been consolidating the sharp gains seen since the Trump administration’s announcement of removing tariff exclusions from Canada, Europe and Mexico on May 31 with July trading 500 tons at $923 earlier today.  Last week’s G-7 meeting presented an opportunity for some resolution and there were even headlines of a possible agreement between the U.S. and Canada late Friday, but those were quickly put to rest Saturday with President Trump’s early departure from the summit and comments reinforcing his commitment to his position on trade and steel tariffs.

    David Feldstein, SMU Contributor

    David Feldstein

    SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of financial market trading experience and has been active in the ferrous futures space since 2012. Feldstein earned an MBA from the University of Chicago Booth School of Business with concentrations in economics, statistics and analytical finance. He can be reached at davefeldstein@gmail.com.

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