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    September 28, 2023

    HRC Futures Rally Hard on UAW Auto Strike

    Written by David Feldstein

    On Sept. 15, the United Auto Workers (UAW) went on strike at three plants, one of each of the Big 3. On Sept. 22, the UAW expanded its strike to 38 more GM and Stellantis plants. Since Sept. 15, the HRC futures curve has rallied $60-75 in the November – February futures months. The reason why there has been this breakneck rally is because, uh, well, um. I have no idea. I am as shocked by it as perhaps you are, frankly.

    CME Hot-Rolled Coil Futures Curve $/st

    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.

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