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    February 28, 2019

    HRC Futures: Lacking Clear Direction, Moving into a Range?

    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 Chief Market Risk Officer, 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.

    On Feb. 22, the April Midwest HRC Future traded as high as $752 in response to the second round of domestic mill price increase announcements. The April future settled at $740 that day and has traded in a range between $725 and $740 since. The rolling 2nd month CME HRC future remains in a downtrend, as you can see in the chart below.

    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.

    Read more from David Feldstein

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