Hot Rolled Futures: Sentiment Shift!

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week:

Lighter volume summer market conditions prevail in the HR futures market. After six consecutive price increases, in the HR index that the CME uses to settle HR futures, the market got a surprise drop, which has led to a market sentiment shift. Participants continue to struggle with forecasting as uncertainty in the global trade markets and the financial markets remains very opaque. There’s concern that recent HR price volatility will restrict some business going into the final leg of the year as recent sharp moves in HR prices restrict business operations.