Hot Rolled Futures Decline $23 per ton this Week Subscribe to the Steel Market Update News RSS Feed Jul / 22 / 2011 - Hot Rolled Futures Decline $23 per ton this Week
Written by: Joseph P. Reinmann, CEO Kataman Metals
Buyers Take Advantage of Lower Prices
Settlement prices on the CME U.S. Midwest Hot Rolled futures contract declined again this week continuing the downward spiral. The average Hot Rolled Coil (HRC) settlement price for Second Half 2011 on CME fell by $23 per ton to $701 from $724 last week. 2012 HRC futures fell by an average of $22 per ton to $760 on average as per yesterday?s settlement prices versus last week. 2Q 2012 traded yesterday at $755.
Volume surged this week on the CME U.S. Midwest Hot Rolled futures contract as buyers took advantage of lower prices. 15,700 tons (785 lots) of HRC futures traded on the CME U.S. Midwest Hot Rolled futures contract so far this week. That represents a volume surge of nearly 250% versus this time last week.
Below is a table with yesterday?s HRC futures settlement prices on the CME contract for each month in 2011.
BSL Price at posting:
$1.09 Sentiment: None Disclosure: Held
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