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Anonymous Mon Mar 18 21:00:39 2024 No.58057764 [View]
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Steel (HRC) at 799 today, but April futures at 865 now. Hopefully that trend continues! China’s oversupply seems to be the big risk.

Attached is a graph of HRC1 (current month) and HRC2 (following month) together. You can see there was a fakeout where the forward month futures bounced on the last down leg, but, that is the only time I've seen that looking back in time. So, we may be reaching our bottom here. Maybe 1-2 months to reverse? I think that will depend on China.

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/biz/ - Business & Finance

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