US Midwest Domestic Hot-Rolled Coil Steel (HRC) Futures

$807.00
-7.00[-0.87%]
as of 2024-04-15
Q

What is U.S. Midwest Domestic Hot-Rolled Coil Steel?

A

Hot Rolled Coil steel is a finished steel product that is laid out in sheets or strips and then wound into a coil for shipping. It is most often used to produce automobiles, appliances, construction materials, shipping containers and steel pipes.

Q

How large is an HRC futures contract?

A

Hot Rolled Coil steel futures contracts generally include 20 short tons of steel.

Q

Should businesses hedge with steel futures contracts?

A

Yes, businesses can hedge with steel futures, but they must remember that there are Hot-Rolled Coil, Busheling Steel Scrap and Cash-Settled Steel contracts available.

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