Futures

Hot Rolled Futures: Another Leg Down
Written by Bradley Clark
December 18, 2014
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 2015 at $605.
These levels represent a breakdown on the recent critical support level of $620 which has held for most of the past year. It feels that the market is capitulating to softer prices for the foreseeable future and at levels below 2014 averages. The ever increasing import levels offered more competitively due to weak global raw material costs has begun to close the spread between world and domestic steel prices. Volumes continue to be decent with over 10,000 tons trading the past 2 weeks.
The market should begin to slow in terms of volumes trading over the holiday period.
Below are two interactive graphics of the HRC and BUS (scrap) futures curve, but they can only be seen when you are logged into the website and reading the newsletter online. If you need any assistance logging in or navigating the website, contact us at info@SteelMarketUpdate.com or 800-432-3475.
{amchart id=”73″ HRC Futures Forward Curve}
{amchart id=”74″ BUS Futures Forward Curve}
Bradley Clark
Read more from Bradley ClarkLatest in Futures

HR Futures: Correction in market after big rally
Another eventful week in the physical and financial steel markets is coming to a close, but with a markedly different tone than the last update at the end of February.

HR Futures: Market drifts lower on light volume
Over the past couple of weeks, Midwest HRC futures have been drifting lower on light volume. This begs the question if the rally has run out of steam, or is it catching its breath after ripping roughly $150 in less than two weeks? The April CME Midwest HRC future made an intraday high at $976 […]

HR Futures: Uncertainty hangs over the steel market
Uncertainty has remained a dominant theme in the US ferrous derivatives markets over the past month. And the Trump administration's tariffs on steel and aluminum are still top of mind for market participants.

HR Futures: Major trade developments lift the ferrous complex
Headline risk has returned to the ferrous complex, with both hot-rolled coil (HRC) and busheling ferrous scrap (BCH) markets surging in response to fresh trade restrictions.

HR Futures: Midwest ferrous futures consolidate gains, market anxiously awaits next move
Four weeks have passed since the last article from Rock Trading Advisors on January 30. The paint has dried, and Midwest HRC futures have exploded higher in response to President Trump’s declaration of impending 25% tariffs on all imported steel products. The rolling 2nd month CME Midwest HRC future erupted through the top end of its downtrend, one that dates back to the peak of the winter 2022 rally. It also broke out of its narrow range seen dating back to June of last year.