Metal Monday #4 with Nick and Brett, January 25, 2021

Check out Nick and Brett as they discuss their weekends and how the ferrous, non ferrous and PGM markets are doing.

Transcription

welcome everybody i’m sitting here with my my dude brett how you doing man good man another uh middle monday keep uh knocking them back how was your weekend it was awesome my kids we had two basketball tournaments we got our ass kicked um that’s sometimes that’s good to have that happen yeah we got we lost two games on friday and then i think on saturday we lost two more and we won one at the end but it was uh nobody could sit down on sunday because we got our ass kicked how did they handle it do they do they get upset yeah they don’t like to lose they have that competitive they got that fire in them yeah not everyone has that fire in it i know i kind of that’s why it’s like arch me up but i’m like dude tell my kid all the time like you guys want to win right like you better get better because you’re getting your butts kicked so i don’t know if that’s the right way to go about it but that’s what my dad would have told me so yeah that’s my job yeah

tell him like oh you wanna you gotta you wanna win you better figure it out so i got a real quick funny story about this weekend um and this is how i i felt really old this weekend because friday night i was up until two in the morning just take a while to guess what i was doing um posting stuff on social media building a puzzle with my oldest daughter and her grandma until two in the morning and you didn’t have any drinks no no alcohol zero yes that’s probably how you stayed up till two and then we started it i got there at like six we literally is a huge puzzle and and i’m going to give these shots to to our brains behind this sage to show everyone the hardest part about it the edges were all within it i’ll just show you real quick after we got done it was like move it around and there was a secret portal for another 200 pieces but it was awesome to do that with my daughter and that’s cool but later i was like gosh i have get involved man up till two

in the morning and i then i i felt like it was up till two in the morning the next day because i still woke up early so well part of getting old man well anyway let’s get into it what’s going on in the market today you know the precious metals are kind of weak a little bit weak this morning played in platinum off a little bit rhodium’s i think it was off a thousand bucks copper was off you know a couple cents this morning nothing big nickel is up again aluminum was kind of sideways-ish so generally speaking the ones we watch you know nothing nothing too crazy you never like to see red on the charts but that’s life we’re going to see some red next month in the ferris markets but it is what it is do you have a guess down 40 down what are you thinking for the west you know i think they’re trying to talk it down hard harder than it really is just because my my belief is there still is lack of scrap maybe not as lack as not as you know like there was say

a few months ago because the pricing has definitely helped that cause but if the if the material still ends up if some export ships get sold mostly off the west coast that’s very that’s really going to limit the amount of scrap available i mean even with the pricing the way it is for us i mean in some of our yards there’s it’s still it’s very thin you know um but there’s some of our yards like in different you know different parts of the state that are we we’re loaded and we’re going to make a pile that make you shake your head at yeah we can’t sell it right then i’d rather have scrap on the ground than money well you just went to hayburn that thing is just loaded to the gills i’m not gonna i’m not gonna sell the for less than it’s worth yeah not even here here in boise we’re loaded now’s not the time just because i believe that the price of scrap should be where it’s at this month or better i don’t think if you try and take it down then i think that’s that’s very short-sighted

it’s short-sighted in the fact that you’re you’re squeezing a market that doesn’t have much to squeeze especially if the price of new steel’s up and you want to keep it up then i’m of the opinion that you know a breather is understandable but if you try and take it down hard then a lot of people are just going to lock it up i reached out to one of my friends mikey foon over in detroit uh for admiral medals i just pick in his brain what he was hearing yeah over there um and he was talking it down just shred grades 20 and then everything else sideways yeah so it’s kind of a different narrative over there right now and obviously that can change but i just kind of depends on what your options are depends on what your options to sell material are and for us i mean we have a few options um we have definitely homes that we like to go with our material but it’s also i mean i also think it’s you’re in the driver’s seat if you have scrap and maybe not as much this month but that

doesn’t mean next month is a whole other ball wax the month after that i just i don’t believe that it’s that i don’t believe the narrative of down 50 down 80 going back to i call yeah yeah i mean i feel like i feel like we’re in store for a good run still i mean maybe we dip this month and we see some recoveries in march that’s what i’m thinking but we’ll see and if i just make a pile and it goes sideways on me i guess i just got a big pile of scrap i got to wait on so yeah yeah we’ll see what happens all right man all right thanks everybody take care