Contributor: Bradley Clark

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. 

Well, what a difference a month makes…

Steel prices continued their slide this week. The CRU was down $14 to $488/ton, which has put downward pressure on futures contracts for nearby months.  April and May are trading approximately $10 lower this week with the former at $495/ton and the latter closer to $510/ton.  While nearby months have been influenced by the deteriorating […]

Hot rolled prices continued lower this week with the CRU down $9 to $508/ton with HRC futures following suit.  Q2 has been trading around $510/ton with March trading as low as $503/ton – $13 lower than the week prior.  The second half of 2015 is reasonably higher with Q3 and Q4 both trading around $535/ton.  […]

The fall in hot rolled futures prices seems to have slowed with the CRU down only $6/ton this week compared to an $18/ton drop the week prior.  The second half of the year seems to have stabilized with trades being done at $570-575/ton for Q3 and Q4.  The near term remains softer with bids retreating […]

A paradigm shift seems to be underway in the HRC futures market now that prices have broken through the critical support level of $600.  The CRU is now at $584, which is down over 10 percent from around $665 just three months ago.  With futures contracts trading at $580 per ton for the first half […]

Hot rolled coil futures took another leg down over the past couple of weeks as spot softness continues to weigh down the terminal market.  The forward curve has moved down $5-10 per ton depending on the period for calendar 15 months. Q1 and Q2 is now trading close to $600 per ton and 2nd half […]

The following article on the hot rolled futures market comes to SMU from contributing writer Bradley Clark, Director of Steel Trading for Kataman Metals. Hot rolled coil futures have been quite inactive the past week due to the Thanksgiving holiday.  As activity picks back up, it appears the next move will be lower.  The forward […]

The following article on the hot rolled futures market comes to SMU from contributing writer Bradley Clark, Director of Steel Trading for Kataman Metals. Over the past couple of weeks the HRC futures market has traded within a narrow range reflecting mixed sentiment among market participants. There seems to be a divergence of opinion regarding […]

Today’s hot rolled coil and ferrous scrap futures article is written by Bradley Clark, Director of Steel Trading at Kataman Metals. The market seems to have bottomed out with the CRU coming in at $640 yesterday.  Positive sentiment has outweighed any negatives in the market with AK Steel recently announcing a price hike of $20/ton […]

After the recent sell off of HRC futures, it appears the market has reached a critical support level with Cal 15 trading at $620.  Near months aren’t much higher with Nov14 trading around $623 and Dec14 at $621.  The selloff came as concerns over the global economy came to light in recent weeks.  The International […]

The hot rolled futures market has been active this week.  After weeks of very little movement, selling has pushed futures prices into a more dramatic backwardation.  Nearby months such as November and December have fallen $7 to $632.  Further down the curve, HRC prices have fallen slightly more with all months in 2015 falling $8 […]

The hot rolled coil (HRC) futures market has been very flat in terms of pricing over the past few weeks with the Q4 trading around $645, Q1 $650 and calendar 2015 around $645.  All prices are very flat down the curve, indicating a slight decrease in pricing from current spot levels.  Overall, good volumes have […]

Pricing in the HRC futures market has continued slightly upward this week stemming from positive economic data and a bullish outlook within the steel industry.  September prices have been trading around $655-667, October prices have been trading between $640-657, and Q4 has traded between $645-651, all about $5-10 improvements week on week.  Further down the […]

The HRC futures market has continued its upward trend in the past few weeks with recent bullish events in the physical market supporting prices.  While nearby periods remain firm with August and September trading around $650-660, further down the curve cal 15 prices have trended upwards trading up to $643.  Similarly, Q1 and cal 15 […]

The hot rolled steel futures market has perked up in the past few weeks with recent bullish events in the physical market supporting prices.  After months of trading in a strong backwardation, prices on the nearby months July, August and September have pushed higher trading near parity with spot prices, between $650-665 per ton.  Further […]

The HRC futures market has been stuck in a rut over the past couple of weeks in terms of both volumes and price volatility.  The market remains backwardated with the spot price now at 670 and the July futures value around 650, Q3 630 and Q4 630.  While prices in the physical market have softened […]

The HRC futures market has been stuck in a rut over the past couple of weeks in terms of both volumes and price volatility.  The market remains backwardated with the spot price now at 670 and the July futures value around 650, Q3 630 and Q4 630.  While prices in the physical market have softened […]

The past couple of weeks have been a bit brutal for the US hot rolled coil (HRC) forward curve. While the spot market is appearing to run out of steam the HRC forward curve has broken down particularly the second half 2014 periods and calendar 2015 periods.  May and June have withstood this recent selling […]

The hot rolled coil (HRC) futures market has been trading sideways over the past couple of weeks, taking cues from the physical market that looks to have slowed its ascent.  Trading volumes have been fairly average, with traders and hedgers seemingly more comfortable on the sidelines until a new catalyst sparks the market to break […]

The hot rolled futures market over the past week has consolidated gains on the nearby months.  May and June have traded to a high of $685 and $680, reflecting optimism in continued short term strength in the physical market. The back end of the curve is not experiencing as strong buying interest, as the Q3 […]

The recent upturn in the physical market has continued to fuel the upswing in steel futures prices as nearby periods have surged this past week. The May and June HRC contracts have traded to highs of $660/ton while second half periods have traded up to $643. The nearby prices have improved over $40 during the […]

With the expected steel price hikes finally coming to fruition the futures market has reacted strongly as offers were lifted and bids take a step up. After months of a down trending physical market sentiment has taken a clear turn to bullishness. The nearby months (March and April) traded to lows around $615 last week […]

The futures market stabilized this week as renewed buying interest has returned. It seems that the recent spot weakness is  being shrugged off by most market participants as buyers are looking down the curve to add length. Recent history has shown us that waiting for the physical market to bottom is too late to pick […]

The hot rolled coil futures market took a leg down this week as offers down the curve became more aggressive. After weeks and months of a fairly static forward curve, this renewed downward pressure of the past few days has shaken up the market. The Q2 traded today as low as $623, the Q3-4 at […]

The futures market has traded in a tight range over the past few weeks as the lack of volatility in the spot market has provided little direction for futures traders. The physical market remains stable, albeit a touch softer, while the looming threat of increased imports has continues to cast a long shadow over the […]

The busheling market started to take shape this week as buyers and dealers came into the market, with early indications to be in the mills favor. Initial reports are for scrap in the Midwest to be down $30-40 / ton depending on grade and location. It seems that weather constraints have had a more negative […]

The market has taken a decidedly bearish tone this week as many feel the first cracks in the physical market are starting to appear. While prices have come off around $5 down the forward curve, the weight is strongly on the offer side, with few buyers present. The threat of imports and decreasing raw material […]

The busheling scrap market is starting to take shape, though it is still early in the month. Initial sentiment suggests that the market for prime scrap may be down around $20 / gt.  With weakness in the export market as Turkish corruption problems, the weakening Lira and soft economy have prevented imports, additional material should […]

The futures market has traded in a very tight range over the past couple of weeks. Prices in the front months, December and January, have continued to firm trading around $670 per ton. The further out, the curve prices have remained backwardated as the risk of imports in the 2nd quarter onwards continues to weigh […]