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    August 27, 2020

    Hot Rolled Futures: Prices Begin to Push Higher

    Written by Jack Marshall

    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:

    In the last month, HR spot prices have had a fairly wide range, trading at least a $40/ST range based on reported indexes. August HR spot settled at $451/ST. August, which can be a rather quiet month for futures hedging transactions, was very active due to the following factors—lead times lengthening, strengthening scrap prices and forecasts for improving prices and demand. This month, lead times pushed out over six weeks at a number of mills, improved demand for scrap pushed prices higher and offer inquiries for HR futures ticked up.

    Jakc Marshall, SMU Contrubutor

    Jack Marshall

    Jack Marshall has over 30 years of experience trading and marketing financial futures and swaps, including currencies. Before joining Crunch Risk in 2012, Marshall was responsible for Forex Origination for BofA Merrill Lynch in their Chicago office. For Crunch Risk, he focuses on Ferrous scrap futures and helps manage client communications. Marshall is a regular contributor to the Steel Market Update newsletter covering topics including steel and steel scrap futures. He is NFA registered Associated Person and holds a Series 3 license. Marshall can be reached at jack.marshall@crunchrisk.com.

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