all right welcome everybody another beautiful monday over here in idaho how you doing i’m good man i’m good uh just trying to trying to get a lot done a little bit of time you know so next monday we might be able to go to do a remote a remote uh metal monday yeah special remote metal yeah i’ll be in the next two remote metal mondays in a row so we’ll see how those work out good i think that’s the plan so you were about a day or two short of winning your bet i have a story of my life day late and the dollar short copper ran what to 450 for somewhere 452 452. i’m just here to donate i’m the store i’m sorry my business career here to donate to the donate scrap to the steel mills so they can get rich donate money to you so you can go on vacation i’m just here to donate man i’m a good man i’m just i’m just here to help everybody out you’ll get it back um okay so copper ran it came off a little bit you’re you’re still in the 440s

though you’re still aware you would have won your bet um ferris any any clarity it’s gonna come off you know i saw a post yesterday was going to come off pretty big um i don’t i think it just depends it’s like it’s like anything right um some guys it might come off 80 some guy might come off 30 but really at the end of the day it probably depends on where you started from right yeah so it’s hard to say the market’s down 50 bucks well if you already had a shitty price to begin with maybe you’re only down 20. but you’re still the same price as the guy that came down 80 yeah because he had a good price so the reality of it is the price is down the market’s definitely going to be off in june um i still stand by the fact that there isn’t a lot of scrap out there you know there might be the next month or so as people just couldn’t get rail cars and couldn’t get delivered but i firmly believe that there’s there’s going to be a bounce in this thing assuming that there’s

no big recession or anything like that assuming that the demand stays somewhat reasonable there’s you know we we can’t the price can’t come down much further with six dollar diesel and supply and logistics issues and to where rubber meets the road somewhere and there’s just not enough supply coming into the system on the processor from the processor standpoint right so it’s going to take a few months to clear that up i think so you know it we know we could see some pretty good down draft this month next month next couple months really but we’ll see but you think it it’s not going to completely collapse you think it’s going to hang out or find a new bottom i think it kind of could rebound maybe this that’s my belief yeah i feel like there’s gonna be opportunity um i don’t see a full-on just you know recession not not this year it doesn’t feel like that i mean i was even reading something this morning on housing right and they were talking about um the housing prices finally starting to kind of level out or come off right people are starting to

you know price reductions and whatever else but the reality of it is like if you look at how much supply is available like even even in our market right they said it’s like 1.2 months of supply well at healthy markets like five months of supply okay so even on that front alone right the housing market everybody’s so concerned about does it have some room to come off yeah a little bit in some markets especially but in general like unless they find a way to build more houses mm-hmm and get the supply of i’m trying they’re trying but but also you have to remember like everybody got stung so hard no 6 and 07. people are nervous about holding inventory about building spec homes about being able to you know build something they can’t sell so until there’s any clarification on interest rates and whatever else you know i think that that plays a role in the economy as a whole and people’s willingness to buy and do and take a chance and build so i think that that’s that plays a role even in even on domestic scrap pricing really but i

still it still comes back down to a strong dollar like you know when the where the rubber meets the road is when your dollars are strong you saw what happened today right the commodities are up why because the dollar took a breath yep it came off what happens like when that you know 20-year strength comes to it you know starts to like really go down yeah then you’ll see so there’s going to be there’s there’s going to be some strength i think we got that variable i think when china finally opens all the way back up and starts buying tons and advocate gets after more material i think it could go really crazy here in two three months did you see that china didn’t sell a car in the month of may yeah which is which is hard for me to believe but you know what i’m saying like at least on the books like when you take a an economy that size and you just shut it all the way down it’s the same thing when covid first hit in the u.s and you took our consumption you know driven economy

and you just shut it all the way down well why do you think the airports and the restaurants and everybody’s having so many issues right now because they’re trying to turn this thing back on or it’s been on for a while and that rev limiter is just yeah like the supply you know of labor the supply of pieces parts and you know the inputs i mean you know that’s a until this you don’t just slow the whole world down or virtually bring it to a stop and expect it to just turn off the light switch so we’re gonna we’re gonna feel some bumps and some bruises i think you know along the way yep absolutely i mean we’ll wait and see where where it goes but i’m i’m still optimistic that it turns back goes goes back to going up here in you know maybe august september that’s kind of where i think i feel like yeah like i said i mean who knows like what like black swan type of event is out there i mean that we don’t see coming right yeah over and above what’s all the craziness is going on

right now but assuming that you know we can navigate some of these issues i feel like you know there’s there’s there’s still a lot of opportunity to be had and there’s still going to be a huge need for copper 1 000 a huge need i mean aluminum for steel all of it you know but like copper with the big push on electric vehicles and things of that nature to make that happen you got to use double the copper we’re using now where’s that all come from the reality of it is like you think about these electric vehicles and you start to really like you know if they really want to get to you know 20 30 like adoption with electric vehicles you realize how much metal that requires and i’m talking about lithium cobalt rare earth aluminum like it’s it’s a vast amount i mean it’s it’s almost unfathomable and then if you think the price of an electric car is going to stay low when all your input costs are just soaring you’re crazy the government’s subsidizing it already right so what i mean it’s to me it’s there’s there’s there’s a lot

of unknowns out there and that one i feel pretty confident about it’s going to take longer than people really believe so but it’s but it’s going to push commodities prices yep you know absolutely all right thank you brett thank you everybody have a great day a great week and try to keep the wheels on the bus thanks everybody