HRC Futures: The Show Goes On

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.

For some time, I have been writing that for domestic mills to maintain their lead times and spot pricing power, new purchase orders not only have to match the previous week’s, but also exceed it by the incremental increase in capacity. I was surprised to see that they were successful in this regard in December, actually increasing their backlog of orders received from service centers. The show goes on.