HRC, Bus Futures Making Lower Lows; Still No Signs of a Bottom

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.

The December CME Midwest HRC future continues to decline, falling another $33 per short ton (st) over the last two weeks to $636/st and trading at a new recent low of $621/st on Tuesday. The December contract continues to be the lowest-priced month on the curve.