Metal Monday Episode #51 with Nick and Brett, December 20th, 2021

On this episode of Metal Monday, Brett and Nick prepare for the holidays and discuss how the end of the year is impacting different metal markets, as well as share their predictions for 2022.

Transcription

all right welcome everybody got a metal monday for you we got what is it two more two more for the year yeah i think this this one and what one more one one more i’m gonna have to do it via zoom but i ain’t gonna miss the last one yeah we’ll do a zoom one because i’ll be uh visiting some family up in seattle in the kent area i like it but anyway so last week at a rough week and a rough copper just got beat up but then thursday friday it came back you know yeah so i mean why we got how low did it get four tennis yeah i got into that right i think i saw it like 408 409 yeah like there and then both the fomc came out and talked about what’s that the state basically they basically came out that’s where they were talking about the interest rates and what they were going to do for 2022 and three and how they’re going to start basically pulling back on some of the uh bond you know the basically the short-term money buy-in taking some liquidity

out of the market um so i don’t know i i feel like that it was one of those basically everybody was maybe anticipated to be worse or more hawkish than it was and so then everybody’s like all right maybe it’s not as bad as we thought so let’s juice the markets again okay um the dollar has just been on a tear too looking real strong i think that’s where a lot of the the downturn came from yeah that doesn’t mean that never helps the cause on the commodity side they didn’t seem to affect it for a while though you know what i mean and then it kind of i didn’t know if it was late or it was kind of catching up you know where you really see it like where that’s really going to hurt is like the turkish lira has just been getting has has just been getting decimated uh you know especially against the dollar which that hurts the export market not not namely as much as on the west coast but the east coast guys they can they’ll they’ll they’ll feel that but i i don’t know i it it’s

the way that this year is ending it kind of feels like everybody just kind of set for the year and there’s just nobody’s really trying to make a big move either way other than you know so it just takes the liquidity out of the market so the market’s super easy to push up and pull down and i think the real telltale sign is going to be kind of january of next year and kind of where we can kind of anticipate maybe this thing going you still think ferris up january we still think we see you know it doesn’t feel like that right now um you know what a difference a week makes but it doesn’t it feels like it’s you know like they’re trying to take some gas out of it but you know i don’t know um i’d like to see a sideways market maybe up market we’ll see but it really is going to probably depend on if anything crazy happens with this whole omicron coven variant and whatever else happens between now and the end of this year so gotcha well i guess we’ll just have to wait and see we’ll

got one more for the year to give everyone and we’ll keep everyone in the loop of what what’s happening out there i’m cautiously optimistic but i also know how this thing goes you know yeah it definitely feels like they’re trying to pull it down feel soft and soft and felt a little bit like a month ago i felt completely different about it so i know i know but we’ll see we’ll see what happens yep well hope everybody has a merry christmas and uh we’ll catch one more before we wish everybody happy new year and uh i know i’m looking forward to christmas with my family and it’s gonna be a good time i’m gonna shut her down for a couple days and go hang out with my family good for you all right everyone enjoy your christmas alright guys have a great day