Hot Rolled Coil Futures: HRC Curve Flattens Near $965; Busheling Rebounds to $565

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.

Last week’s $147 decline in the CRU Midwest HRC Index surprised those trading the February CME HRC future as it declined $59 last week. It has declined $82/st since the settlement following the first week’s print. Since peaking at $1,665 on Sept. 3, the February future has fallen $552.