Metal Monday #7 with Nick and Brett

March 23rd, 2020: Nick and Brett sit down to talk about the current markets in light of COVID-19. They discuss the non-ferrous markets (Copper, Aluminum, Nickel, and Lead) and also touch on where the ferrous markets will possibly be headed for the end of March into April. Their goal is to bring insight on why pricing can change so quickly in the scrap metal industry.

Transcription

hey Brett how you doing I’m good man All Things Considered it’s been a long this March has been a long year but yeah this is like a year’s worth of packed into one month and it’s only the 23rd so we’ll just keep keep battling I guess the advantage of this metal Monday’s we gonna do it at the end of the day yep so you see where everything landed and not a very soft landing today everything ended down for the most part so this morning copper was down 8 it closed around down 8 this today yeah just to kind of follow up last week and every other day it seemed like it was down 10 15 you know and it’s just still continuing to fall I’ve talked to you yesterday I’d hoped we hit bottom but it looks like we haven’t I know I think it I mean the way it’s going it looks like it’s gonna continue to go south until I mean my gut feeling is that until they come up with some sort of financial bailout that the House and Senate everybody can agree on you know I think that’s kind

of what this thing hinges on you’re starting to see steel mills start taking this as an opportunity to close down which is really gonna drive the Feres prices down come April so well we saw last week we saw some adjustments on ferrous as well yep yeah so last month was a pretty much a sideways month but you’re really gonna see the wind taking out of the sails this month I mean that’s kind of the way it’s looking non-ferrous wise you know that that has been happening for a while now usually because obviously steel trades a little slower about maybe once a month maybe once every couple times a month but you know that you were gonna feel that pain I’m guessing coming into April yeah when will keep everybody posted we’ll do everything we can to keep doing these metal Mondays and you know next week hopefully we have some good we’ll let you know stay positive out there everybody it is what it is it’s the commodities business that we’re in it’s we’ll get through yep thanks Brad care