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    December 9, 2021

    Ferrous Futures: HRC & Bus Volumes Surge to Open ‘22

    Written by David Feldstein

    Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active in the ferrous derivatives space since 2012.

    There is no doubt that winter has come. The bear is up and the bear is angry. The December CME future settled down $183 MoM at $1,616/st. December’s decline set a new MoM absolute change record going back to at least 2010. Open interest across all HRC futures set a new all-time record as well at 871,320 short tons. This continues to be a technically strong bear market.

    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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