Metal Monday #20 with Nick and Brett, May 17, 2021

Tune in for this week’s metals market update with Nick and Brett! Copper dipped a little late last week but early this week we are seeing some recovery.

Transcription

all right welcome we are here on monday what is it the 17th it’s tax day for everybody a postponed tax day how you doing brett i’ve pay my taxes so uh we can keep people on the dole you know keep them uh from actually having to go get a job for another month or two i’ll never understand not wanting to work but that’s a whole different podcast conversation she’s like that’s like eight podcasts like in and of itself but we will go there some other day i ain’t gonna lie i kind of procrastinated and i submitted mine last night at eight p.m you know but i got it in before the day yeah so yeah i had a i had to write a few checks this morning and i had my wife i’m like hey give me that checkbook i gotta write your checks so i might have waited just even longer than you yeah i’m never in a rush to get those things done man but um yes sir all right man well how’s market treating everybody brett you know i think it’s good um looks like the you know copper some

of the base metals are bouncing back a little bit this morning they kind of tailed off towards the middle end of last week um precious metals look pretty good so far this morning in general i mean i think everybody’s anticipating a pretty good ferris bump in june so i don’t like telling people i told you so but at least as of now it looks like it’s uh june’s going to be decent um and july for that matter in my opinion but i guess time will really will tell i think there’s you know there’s it’s the pro the the forecast looks good i guess i’ll just say that that’s good i mean we had a great run on copper and this is what happens it’s not shocking that it makes an adjustment and that doesn’t mean it’s like gonna go down for a long time you know it just makes a small adjustment and a lot of times we see it you know takes some time to kind of find a new high you know that’s just kind of the norm you know you don’t want it to go straight up if it goes straight

up then it’s setting up for a real big quick down right yeah not that it can’t come down real quick because that we’ve seen that happen as well but i think you’re better to stare step it up a little bit i mean that’s what you need you need a good healthy pullback suck some liquidity back out of it and that gives you a base to build on um i see it similarly in the ferris side like we had a little bit of a pullback before not that i felt like that that was necessary but a good little healthy pullback and then i think now we see the next the next uh climb um i guess we’ll find out here soon enough but i feel like there’s some real going to be some real opportunity in uh june and july to sell some scrap at a decent price yeah i’m kind of curious where where that top lands you know and like you said you know we saw just a big run what december january on ferris and then we saw you know was it february where we saw the dip february yeah yeah january’s

good february was off i think march got a little bit back that april came down again i mean it’s it’s i mean it’s you know they’re playing with the markets a little bit but i don’t know like i said i’m fairly optimistic about where this train’s headed on the ferris side um the base metals on the non-ferrous side are still holding pretty strong so you know that’s always uh that’s a good that’s a good sign for for for moving forward yeah and i want to give a shout out to jennifer betts she jumped on clubhouse with us last friday yeah which is kind of curious to hear other people from different backgrounds that you know more of like a ferris trader you know i think you used to trade with her didn’t you yeah she used to work for uh back in the day so i she would buy iron um for the utah mill i think in seattle at that time which we were primarily shipping in to utah um but yeah so i dealt with her for a couple years i’m over here on on in our in our in our

neck of the woods and she’s been the scrap game for a while i think she’s she knows what she’s talking about she’s she’s getting good information out there so you know i enjoy her posts on linkedin i think she’s she’s pretty with it when it comes to scrap well it seems like she’s optimistic enough to think we got like a two to three year run and uh and she’s like really the first person i’ve heard like verbally say like that out loud like a lot of other people think we gotta like maybe a run throughout this year and then see some major dips in 2022 and only time will tell but um well you know how hard it is to predict next month little entire years like that’s why we don’t really budget that hard you know in our business people ask me like what are you budgeting for 2022 i’m like you tell me the price of scrap in 2022 i’ll give you a budget but until you can tell me what the pricing looks like it’s pretty damn hard for me to give you a budget tell you where what it looks

like you know yeah for sure okay well anything else brett that’s it man just on the road got the seat belt on i got pulled over to the side shopping with you for a little bit and then i’m back at it so have a good week and uh i’ll talk to you in a little bit thanks everybody bye-bye all right take care