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    Analysis

    March 16, 2023

    HRC Futures: March Madness Three Years Running

    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.

    The aggressive momentum in CME hot-rolled coil (HRC) futures has fizzled in recent days. The curve is on track for the first week-over-week decline since January. Today’s selling started well before the day got started in the US, indicating the downside pressure originated from London-based trading desks. What motivated the aggressive selling? Was it an attempt to shake out the weak longs? Was it profit-taking? 

    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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