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    January 28, 2024

    HRC futures: Changing futures dynamics

    Written by Bradley Clark & Gaby Ain

    What a difference a few weeks make…. As this is our first column after the new year, it is quite interesting to observe how different the steel world looks at the end of January vs. the end of December. 

    The first few days of 2024 on the futures market provided bulls with the much expected “new year exuberance” bounce, with prices along the curve pushing up substantially. Well, that optimism was dashed as the first week of the year wore on, with sellers entering the market throwing cold water on sentiment, plunging prices by over $200 per short ton (st) over the next week. Subsequently, we have seen the worst of that subside, with February and March both rallying since then.

    Bradley Clark

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    Gaby Ain

    Works as an analyst at Flack Global Metals since September 2023, specializing in demand and supply dynamics to provide valuable insights on the steel industry, as well as the economy to support the research used by Flack Capital Markets in driving effective business strategies.

    Read more from Gaby Ain

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