foreign October 2022 Metal Monday how you doing Brett what is this like metal Monday like 40 40 for the year 40 something like it’s got to be there 52 weeks in a year you’re like high 30s then or something we got to be around there Sky do you know what number we’re at 43 43. uh 43 for the year our second year doing it so we did we did it completely in 2020 I think we started in 2020 and then we did 21. how crazy is that that there’s only you know freaking 11 to 12 more metal Mondays in the year it’s crazy and it’s starting to feel it’s starting to feel like Fallout there yeah we’re up in there we’re ready my teacher the teacher is gonna have to be like a hoodie sweatshirt you know here soon next Metal Monday you might be wearing a hoodie exactly exactly so last two metal Mondays thing has just been we keep saying it they were in bloody looks like Halloween’s already here but uh around Wednesday it’s hard to turn we got it all back we’re back into that 340 range for copper this

morning for copper at least uh what brought it back why is it coming back is it people a lot of times to me a lot of overreactions happen and then people calm the hell out yeah and it comes back a little bit you know well I mean it’s been like you know to me it’s been a the big driver has been currency right like the strength of the dollar against other currencies has just been because other countries something you’re high right so that plays a role in the domestic you know pricing so like what you’re seeing this morning is the dollar giving up some of that strength and so the stocks are you know at least the Dow and the in the NASDAQ are ripping this morning which the other thing that’s kind of interesting with the dollar giving up giving up some strength is you’re seeing I mean your pgms silver and gold especially um Platinum Palladium everything is you know has found some love and I feel like if if the tide turns and you know if the FED has a meeting and says okay maybe we’re raising the rates too quickly

and it’s and it’s hurting the global economy because I was reading this reading um over the weekend basically like you’ve got the Chinese the Japanese um basically the the the the Euro you know the Yen all these currencies they’re all kind of tracking and the dollar right so if the dollar is just sitting there we keep raising interest rates the dollar keeps strengthening dollar keeps ranking well that’s hurting other that’s hurting the global economies at some point um These Guys these leaders are like well screw it like we’re gonna have to sell like China just came out and said we’re going to sell x amount in order to combat the strength of the US dollar so we don’t know their own currency because they’re basically they’re going to sell dollar reserves okay buy their own currency in order to basically give strength to their currency because they’re you think we’re suffering from inflation well it’s it’s really hurting these other economies so that in turn is what really pushes and pulls the the Commodities more than anything right now in my opinion that and maybe some production and some manufacturing weakness we saw the

ism basically which like the manufacturing gauge came out this morning off more than anticipated which I think gets the Traders a little more they’ll um bad news is good news scenario right now where maybe this bad news is going to slow the FED interest rate oh got it so bad news becomes good news for the markets because they’re like okay that’s the indication that the FED needs to slow rates down so they needed to pump the brakes quit raising it yeah well that’s just what people are trading whether that actually happens or not how committed they are I mean when’s the next schedule raise do you know when the next schedule interest rate in November November yeah but and I I believe but also like that’s some stuff some a lot of that trading stuff is very much out of my wheelhouse right like I don’t sit there and trade currencies I don’t trade the only thing we trade on is Commodities that we physically hold yeah so we don’t trade Futures contracts here it’s not really our game like we’re we’re truly in the Commodities business but we’re just trading on physical Supply

that we’re actually able to purchase and sell that’s it and here we are affected here in Idaho we’ve always been kind of in our own bubble just the way we are geographically here in um Treasure Valley all the manufacturers that I’ve been talking to they’re still really booming now that might turn sometimes it takes us a little while to catch up to the rest of the country both ways um but everyone around I’ve been talking with are so busy they still are looking for employees they can’t keep up so here that’s a good sign but like you said that manufacturing report there’s more of a true recession yeah recessions take much longer to develop than people think they just happen overnight you could you flick the light switch and all of a sudden the economy is down when the housing market crashed in 08 and then like eventually Lehman Brothers went out that was like a eight nine month period okay it took a lot longer than people really remember okay and that was kind of like the you know how it all kicked off but it it it it takes longer it’s not

you’re not going to wake up one day and make oh it’s gonna we’re gonna so if we’re in the start of a recession you might not really see it and I’m not sure you are you’re not but if we are if you are it takes a lot longer to than than most people really realize it’s not a month or two deal it’s a it takes a while and then all of a sudden that then something finally breaks and then it’s game on and then gotcha so what are you hearing about Ferris I’m sure people you know Ferris I think is like a soft sideways is from what I’m hearing potentially down um 10 to 20 bucks depending on the grade um but more sideways action on the coastlines than in the midwest anything going east for us is going to be definitely softer so just because there’s a lot of scrap in the midwest areas from what I hear so going towards the ocean might be sideways yeah going towards the coastline you got a little bit of a chance just because the export Market did drop off pretty heavy in the middle of

September but then it did bounce back some so maybe not as as soft as as once was going to be anticipated you know two weeks ago so it’ll be interesting to see how this trade unfolds the you know the Midwest you know you still got Mill outages some you know big meals not even buying so that’s why because they have too much scrap on the ground is that why demand and maybe there’s a lot of scrap you know the orders are slowing down because of recession fears from what I hear yeah okay um all right well I guess we’ll wait and see I mean it’s nice to see some green in these markets for us you know it’s nice to see Platinum Palladium up that’s going to help your catalytic converter price which could also help your recycled car price yeah you know copper is back in that 340 range we’ll see if we stay there let’s see if we get a run back to the maybe we go back up to 360 370 range I’m not sure um a simple like supply and demand like it depends on what you read like the

need for copper is still abundant like we still yeah in the long term in the longer but short term is what controls the market so in the short term are we not a big need I don’t know I guess I wish I knew okay I’d make I’d make a lot more money buying itself conversations and I would sell scrap all right well thank you Brett thank you everybody all right have a great week