Analysis
July 8, 2026
CRU: HR coil futures fall while open interest eases back from record
Written by Josh Spoores
This item was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com.
Over the past nine consecutive months, from November through July, CRU’s monthly HR coil benchmark gained an average of $37 per short ton (st) per month. During that time, futures prices were slow to price in the uptrend before rising at a faster pace in Q2’26 (see chart). Last month, the futures market priced in a peak of just over $1,200/st for August and September. Yet over the past few weeks these futures prices have sold off with the market pricing in an average of $1,164/st for August and September as of close on July 6.
