HRC Futures: Here comes Trump bump 2.0?
No more excuses! The election is over. Donald Trump will be inaugurated on Monday January 20 with the Republican party in control of Congress. Now, it is time to get back to work!
Contributor: Dave Feldstein
Dave Feldstein
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HR futures: Trend reversal or bear market head fake?
Cleveland-Cliffs and Nucor each raised their respective hot-rolled coil (HRC) prices this week. Since last Wednesday’s settlement, the Midwest HRC futures curve has rallied as much as $63 in the September future.
HR futures: 'Gimme Shelter'
This chart of the rolling second-month CME hot-rolled coil (HRC) future dating back to the start of 2022 has been as volatile as a herd of “Wild Horses.”
HRC futures: Consolidation ahead of a big move?
It has been a crazy 2024 so far for hot-rolled coil (HRC) futures!!!
HRC futures: Bulls anticipate price increase announcements
2024 started with a $200 per short ton (st), one-week demon drop in the CME Midwest hot-rolled (HR) coil futures. Then, HR futures consolidated in the low $800s/st with the April future trading to as low as $770/st as the curve shifted into contango or upward sloping. A big move was expected, and a big […]
HRC futures: Ferrous futures in consolidation mode
The March scrap trade is set to pick up steam next week.
HRC futures: The most wonderful time of the year
Oct. 26 was my previous Steel Market Update contribution. The night before, Ford and the United Auto Workers (UAW) announced they had reached a tentative agreement for a new labor contract.
HRC Futures: Following the Charts
The last article I wrote on Thursday, July 13, pointed to the surprising rallies in the August and September futures, while noting the August future trading to just below its multi-year down trendline.