Hot Rolled Futures: Anyone See a Bottom?

Editor’s note: SMU Contributor Michael D’Angelo is a researcher and trader at Marex. In his role, Mike performs fundamental and quantitative analysis, which directly leads to actionable trading/risk management strategies across the base, precious, and ferrous metals derivative spaces. Prior to joining Marex, Mike received a BA in economics with a minor in finance from Princeton University. Mike can be reached at mdangelo@marex.com for comments/questions.

CRU’s weekly Midwest HRC index got clobbered, falling to $687/ton on Nov. 2, down $48 (-6.53%) from the prior week — the largest percentage move since June 15. This is the first time the index has come in below $700 since December 2020.

Michael D'Angelo

Mike D’Angelo is a researcher and trader at Marex who has been active in the metals markets for 2 years. In his role, D’Angelo performs fundamental and quantitative analysis which directly leads to actionable trading/risk management strategies across the base, precious and ferrous metals derivative spaces. Before joining Marex, he received a BA in economics with a minor in finance from Princeton University. Mike can be reached at mdangelo@marex.com for comments/questions.