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    December 3, 2020

    HRC Futures: $1,334—Another New All-Time High

    Written by David Feldstein

    Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein.

    February’s service center data showing a decline in daily shipments and mill receipts helps to explain how last month’s winter storm that blanketed most of the country dealt yet another blow to the steel supply chain’s seven-month odyssey to overcome the steel shortage.  February’s data also showed a resurgence in new orders to the mills for flat rolled in response to outages at a number of different steel mills. This latest surge sent the domestic mills’ backlog to a new all-time high. With daily hot rolled indices clearing $1,300, the April CME HRC future also traded to a new all-time intraday high of $1,334.  Since last July, the April HRC future has increased by over 150%.

    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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