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    July 29, 2021

    HRC Futures Continue Higher as Open Interest Declines

    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.

    Following Memorial Day, the CME HRC futures curve exploded gaining over $300/st for the months of September through February while almost every other month gained at least $200.  There was a furious push into the last day of the quarter with July, August and September futures settling above $1,800. This buying looked to be primarily attributed to OEMs locking in forward prices. 

    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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