HRC Futures: Searching for Direction

Gaurav Chhibbar is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Gaurav’s previous role, he was a trader at Cargill spending time in Metal and Freight markets in Singapore before moving to the U.S. He can be reached at gaurav@metaledgepartners.com for queries/comments/questions.

The week-over-week change in the curve points to unchanged expectations for a drop in monthly averages for the benchmark index between January and February. The market has traded without conviction further out on the curve. In the past week, we have range bound trading, as well as market participants showing willingness to do calendar spreads, if not always eager to trade outright.