Metal Monday #2 with Nick and Brett, January 11, 2021

There has been a major adjustment in the #copper market.... stay posted next week to see if it settles down.

Transcription

all right i’m sitting here with my main man brett how you doing man i’m good man just watching the blood roll through the streets in the copper market that morning not every monday can be it up monday no we gotta we got a rough one for everyone today what are we down like eight i was eleven right now eleven yeah i didn’t look at like 30 minutes now it’s 11. yeah it’s a little uh at least on the spot side it’s a little bit rough this morning but uh so is life and if you don’t like the ups and the downs you’re probably in the wrong business especially right now it’s pretty it’s pretty wild out there without the downs you can’t appreciate the ups man that’s just true in everything in life man yep and i know at the end of the day i mean you’re we’re this is the business we chose the business that we’re in um and i guess if you had a lot to sell today or you know or you had a lot on the hook or you’re riding the lightning pretty hard then maybe you’re feeling a

little a little rough this morning but generally speaking i think that you’ve got to have these stair steps in this especially in the commodity side to keep to keep pushing higher highs absolutely what a what’s everything else doing everything else again you know nickel’s off precious metals are definitely off um and i think most everything is due to the dollar strength there’s a lot of um going on with the on the politics side and you know i think people just don’t like um like the volatility of you know politics and economic some of these things that are kind of going on that need to shake themselves out and then i believe the trend will set back again and will continue pushing positively you know on the commodity especially on the base metal side i mean you cannot print so much money and paper over stuff before you’re gonna get some you’re gonna get some gains again so when the dollars a week it generally pushes commodities up generally speaking as long as the export markets are there to soak the material up and um and in the domestic economy i talk to a lot

of people every day and like for example i talked to a plumber this morning on my way to work and he’s like i said how’s business he goes it’s busy as i’ve ever seen it i just can’t find the help yep but it the the economy is there it’s ready at least in our area and i can’t speak for every metropolitan rural area but i can say that for us over here people want to work there’s work to you know people are doing stuff um it’s just a matter of you know getting over the hump of the labor side is probably the biggest thing right now and a week ago you didn’t have your ferris numbers all the way knocked out the thing that things go up like when there’s market is up okay you know anywhere from 50 to 100 bucks depending on the grade so which i know is a pretty big delta but there’s a lot of different grades and material depends on what your markets are but the markets did move up again so it’s i think january at least for now is kind of game on let’s you know

we’re going to be out there hustling and doing what we do and trying to move scrap and buy scraps so um i think that’s it’s a good thing you know this we haven’t seen this kind of ferrous market for a while so as for right now we’re going to take it while we can get it and copper and copper even even if it loses today a lot even at 11 cents at 356. i mean a month ago we would have been kissing each other’s butts to c356 you know what i mean like yeah you know so it’s all relative man it’s just really like right now like oh that sucks but really like you said like six months ago 356 looked pretty awesome yeah everybody would have been uh buying each other beers at the local um what do they used to call those this place where you couldn’t go drink in a bar legally oh the speakeasies yeah yeah like that’s what the world gonna get like you have to go to speakeasy now to to buy a drink you know some of these you gotta buy go to speakeasy to buy a

drink but a lot of places you can walk around with some marijuana yeah or in oregon you can just do drugs you know yeah whatever drugs the times are changing people are changing the scrap markets are up it’s monday and uh we’re not complaining over here tonight though we’ll just do what we do all right thanks everybody all right take care