Metal Monday #3 with Nick and Brett, January 18, 2021

Half way through January and we continue to believe copper can reach the $3.80 mark.... Early report on Iron are sideways to down slightly for February. Make sure to like our post and follow us for more updates.

Transcription

welcome everybody i’m here with uh the third metal monday of the year i’m sitting here with brett well i’m not sitting here with brett i’m zooming with brett how you doing i’m good man how about yourself i’m doing good i know uh it’s foggy over here and right around our boise are really foggy the roads were a little sketchy on the way in it reminded us um we’ve had the such a good winter a real light winter but it felt like winter this morning over here yeah that fog will come in and sit there on top and just keep it keep it pretty chilly you know um it’s the same same way up here up in north idaho it’s uh you don’t know where you are a bunch of uh i haven’t really got a bunch of snow in the last couple days it’s just kind of stayed cold but all in all it’s good man it’s good metals are looking uh looking pretty good this morning um you know i always say anytime there isn’t a lot of red that’s a good day you know i don’t need i don’t need i don’t

need everything to be up 10 cents or 100 on the precious metals i just needed to be kind of level to just to slightly positive and i’m good with that you know yeah as long as it’s trending in the right direction i’m a pretty happy camper i can i can handle those days where copper takes a small correction yeah like saying you know like just doing what a scrap buyer does like a good example is we bought a pretty good load of of copper we bought a super aggressive from one of our demo guys yeah and the next day copper is just down you know i’m like oh no you know the days where i’m like but uh i don’t know it’d be interesting to see how that i still think we’re gonna see 380 to four bucks um in the next month or so i i really believe that there’s gonna be a run um we’ll see what uh what happens though between now and then i mean we got about 20 more cents to get to 380 19ish but i think there’s a good shot once they kind of get the election

inauguration all this stuff kind of behind behind everybody and get the politics out of the way and just get back to business you know you think there’s going to be a lot of fluctuation with uh with the inauguration coming up you think there’s going to be a lot of stuff going on with that oh i think that’s you know i don’t see that i think it’s more driven by you know the dollar strength or weakness and demand that is that and that’s just kind of a political sideshow that they just need to get you know this just needs to happen so everybody can kind of move forward what’s going to be more interesting is the ferrous markets and trying to figure out what those are going to look like in february i’ve already heard some people talking them down a little bit out there but i think that’s just you know export countries trying to take some steam out of the market um on the demand side over here domestically it’s still fair it’s still strong so really it’s as long as the export markets still have strength i don’t see the fairest market

maybe a slight correction or a sideways um at worst i don’t know i don’t i don’t see where they can take much juice out of this thing yeah i’d be you know with all these markets at ferris markets being so down for so long i think any any scrapyard any scrap buyer would be happy and the customer would be happy with sideways market you know yeah i agree so i mean i’ll be curious because we got a we got a fairly full yard in the back here we’re good you guys got to get it processed and get it out that’s the name yeah that that’s true you know get somebody else’s hands and make and make some headway and move on yes sir well any other updates brett not a lot man just uh going to kind of see what happens this week i mean on the the pressure metal side lane rhodium has been absolutely crushing it platinum and palladium if it’s been kind of hanging around so i think there’s a lot of room in both of those to go up as well so i’m pretty i’m pretty optimistic i’m pretty positive

about what the rest of january looks like on the precious metal and the base metal side okay yeah me too well we’ll keep our eyes on it and we’ll be back in a week all right man have a great day see ya