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    March 21, 2019

    HRC Futures: Ferrous Futures Continued Range Bound Market

    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.

    Midwest HRC futures have been range bound since bottoming in early January with April settling at $716 yesterday. The chart of the rolling 2nd month HRC future broke below its multi-year downtrend in the final week of 2018 (red line). Midwest HRC bottomed in response to domestic mills’ price increase announcements in mid-January and then peaked at $736, but has remained below the downtrend that started last summer (yellow line).

    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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