Hot Rolled Futures: Cliffs Price Hike Boosts HRC Gains

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.

If the groundhog sees his shadow, does the rally continues for another six weeks? Something like that? Today is Groundhog Day, and that can only mean one thing… we got January’s auto sales data yesterday. Ward’s Total Vehicle Sales jumped to a better-than-expected 15.74 million seasonally adjusted annual rate (SAAR) in January.

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.