Steel Products
January 11, 2013
Written by Bradley Clark
Written by Brad Clark, Director of Steel Trading, Kataman Metals
Settlement prices retreated this week on the CME U.S. Midwest Hot Rolled futures contract as the expected New Year’s jubilation never materialized.
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It has been a crazy 2024 so far for hot-rolled coil (HRC) futures!!! “It’s not crazy, it’s hot rolled.” This chart shows the steeply backwardated Midwest HRC futures curve on Jan. 3 plummeting between $186 to $241 in the front three months, evolving into the curve six weeks later on Feb. 12. CME hot-rolled coil […]
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Though steel prices continue to drop, more buyers are holding off on finalizing transactions.