foreign Metal Monday is it it’s not the last one it’s the one before Halloween though and we’re about a week out we were just saying this we’re about a week out to go to SEMA with our converter reclaimed crew so let’s just start there what are the pgms doing Brett they’re off this morning not by a lot I mean last week was you know decent we had some gains last week we did we kind of bounced off you know off the 19s back up in the 2000s on Palladium I mean Platinum has been holding its own which is good I mean it was off a few bucks this morning rhodium’s still holding its own around that 13 4 13 5 number so obviously that’s a big big item for us to pay attention to but um the pgms in general so we watched the base Metals pretty hard copper aluminum that’s usually what we lead with on the metal Monday yeah we don’t always talk about the pgns but they matter they matter to most scrap yards most are in taking catalytic converters from their day-to-day like car buying some have converter

buying programs um so it mattered probably to some yards more than others like some yards you know because of the whole you know stigma behind converters and what does it take to buy them and be legal about buying them selling them which is something that we are like working pretty in depth on over here on our end we’re super excited about like especially next year like we got a pretty good plan to roll it out but I mean ultimately it’s because we are big buyers of converters you know for us it’s a those Platinum Platinum rhodium you know price prices matter to us so we pay pretty pretty good attention well long term it seems like that looks pretty good on all three of those those pgms why does that look good on them is it because we need the material there’s not enough of it it’s hard to mine it out of the ground it’s a variable of all the above I think emissions emissions requirements you know from not just the United States from other countries I mean as of today that’s the technology that helps with emissions you know Platinum Palladium

Rodeo um the the other thing to pay attention to is you know Platinum Palladium and rhodium is a is in a bunch of other has a bunch of other industrial uses other than just Catalyst right um on on your on your Cadillac converter underneath your car so you know as more uses and more green energy and more green technology stuff comes out you know Platinum Palladium rhodium is found in some of these applications so there was a year there was a year two years now that running that not as many cars were built because of um covid so you had kind of a year or a year and a half two years where you know the the amount of production was down which required less Catalyst which kind of dragged those Metals down but if if we start building cars again and at a decent pace in the in the admissions requirements are only becoming greater right and the population is still growing you have other countries that they’re they’re not prepared to have an all-electric car an all-electric grid to power cars I mean even in the United States as ahead

of the schedule as we are we’re not prepared for all electric vehicles they’re still going to build internal combustion engines it’s still coming you know that that deal isn’t done so we feel like the demand for pgms is going to be strong um and some other countries are really pushing the hydrogen car too which is a lot of platinum that involves a lot of it so if things shift away from the electric or maybe it’s electric and hydrogen cars it’s going to be in the end world right like it’s it truly is like it’s going to be mining and urban mining it’s going to be electric and hydrogen and internal combustion engine like it’s gonna there’s no one size fits all for the whole world I mean it just doesn’t work that way so even if you can get more electric buy-in in here and in China or wherever you’re still going to have a lot of countries that don’t have nearly the grid capacity capability that we have the money to spend on building that out they need internal combustion engines and if absolutely they’re gonna you know if you’re truly going

to fight emissions you need Platinum plenty of rodeo so my gut says it’s the future is still pretty bright for those Metals well if you want to hear more about pgms and converters feel free to if you can make it to SEMA enter our contest yeah come we’ll be chatting about it we have a whole team going down there we’re going to kind of dip into a little bit of what we’ve been working on so stay posted on that now to our bread and butter the base Metals yeah how are they doing Copper’s off this morning look like four cents-ish this morning um aluminum’s a little soft nickels seen a little bit of strength but you just hang around that ten dollars um but really last week I mean we got we broke 350 copper you know for a little yeah for like it felt like a second right or it wasn’t that long but yeah we did break it we break it for a little bit and then it came back to the three mid 340 range you know it’s dipping to the low 340s today uh but it’s really been hanging

out 3 30 to high 340s I saw this morning that you know China’s in dust you know China’s GDP was like a three point whatever nine or whatever it was higher than expected so that which that number can be manipulated pretty well sometimes I think that that’s just kind of is where it is but still beat expectations so if the zero covid policy you know starts to get tweaked or changed a little bit and some true demand comes back because the Chinese economy are from everything I read is struggling and those they’re not I don’t see them allowing that to just happen and just say yeah we’re just going to allow it to struggle for five years a year I I feel like there’s going to be some monetary response there’s going to be some you know um economic stimulus and with that comes stronger copper pricing stronger platinum Palladium rhodium pricing um and if we can get a little break in the dollar strength that’s that doesn’t hurt our cause as well last thing we’re eight days away from November yep Iron’s still going to trickle down sideways to soft is what I’m

my gut says um seems like a lot of these Mills they have enough iron on the ground still it does it feels like a lot of big orders yeah for the real consumers their inventory is plentiful for you know from what people I talk to so it’s it’s not a big big demand thing and you’ve really only got November and December usually is a half-assed month at best you know so I don’t see the end I see the end of the year being sideways-ish at best maybe a little softer a little dip I mean at best sideways and maybe into next year we see some gains again but we’ll have to wait and see yeah I mean we can only hope right yep but no I I I’m just looking forward to finishing out our year strong getting uh cleaning up some inventory and uh getting ready for 23 obviously getting ready for SEMA next week which is going to be a fun show a big show for us and uh just keep the keep the wheels on the bus like I like to say all right thank you Brett and thank

you everybody have a great week have a great week