Hot Rolled Futures: Difference a Week Makes

The following article on the hot rolled coil (HRC), busheling scrap (BUS), and financial futures markets was written by Andre Marshall and Jack Marshall of Crunch Risk LLC. Here is how they saw trading over the past week:

Financial Markets:

Wow what a difference a week makes! Like a lot of you, I was on vacation last week and was surprised when I picked up a paper at the airport after a week off the grid to find out the world had turned bullish all of a sudden. I’m pretty sure it wasn’t that many writings ago that I warned our market that the world had gotten too bearish and that it couldn’t sustain, but I was shocked at the speed at which the media had all of a sudden decided that things looked rosier, much rosier.