Metal Monday Episode #20 with Nick and Brett, May 16th, 2022

On this episode of Metal Monday, Nick and Brett are feeling a bit more positive in regards to the market than they have the past two weeks. Tune in to see why.

Transcription

all right another metal monday i don’t feel like i’ve been kicked in the nuts quite as bad this monday versus other mondays you know at some point you get kicked in the nuts enough that they just become numb because i mean nickel nick nichols kind of doing some kicking today but like but we saw like copper rebounded north 420 um you know where it was getting close to four at one point yeah you know so it kind of on my it didn’t go down 10 cents today you know yeah yeah but yet but uh you know i mean the market i think it feels like you know it feels like it’s more common for it to go down than go up right now so yeah i was i don’t know we talked about this last week but i feel like these are the markets that you make a sale and you’re like man this is kind of a shitty sale but then the next day you’re like okay that was actually a good sale right like there were months upon months where you made a sale and the next day you could have

got a better one and the next week you could have gotten even better one and i think you kind of have to understand some of the times that you’re in it’s not always going to be the case these in the commodities markets you know they trade the way they trade you know depending on so many outside you know external circumstances not just you know the price is crap so i think that you know right now we maybe we might be in a cycle where you know if the sale looks decent and it looks right may not be the worst time to take it right and i think that’s you know you kind of have to understand the times you’re in right now and you gotta not beat yourself up too bad you gotta make that sell you know and just move on you know because i mean i talked to a lot of different scrap guys and i forget what deal it was but someone kind of made a deal too early on something i think it was copper then it had that rebound you know and something that you’ve told me in the

past is like nice thing about what we do you know wait a month and you get a chance to make a better sell you know i heard a smart guy once say he goes it beats the out of being a farmer and i was like he goes because you get one sell a year yeah if you that deal up you got to wait a whole another year to get a cell right so and the farmers are at the mercy of when that is yeah but i mean exactly the timing and all that but he’s like you get one crack at it you know maybe two in a year yeah he goes in this business you you make a sale every day depending on your volume and what’s going on he goes yeah you always get another chance so even if you feel like you might have sold early or you made a bad sale you’re gonna get another crack you know whether it’s a month from now on your ferris material or whether it’s you know a week from now or a day from now and some of your non-ferrous but i mean

you know don’t you know don’t pat yourself too hard on the back for the good ones and uh don’t kick yourself too hard in the ass for the bad ones don’t get too high or too low man exactly exactly something that a lot of people say something that lebron james has been saying for his whole career i think he had to learn that because you really can get beat yourself up or if you start just everyone high-fiving each other that’s when you make big mistakes too 100 yes yep i think i’ve been on both sides of that where you get you know you get feeling pretty good or you know you get yourself down on honest this or that and ultimately after you know you do it for enough years you kind of become numb to getting kicked in the nuts and you just you know right now it becomes who’s the best operator and not and and not just the best operator but who’s who has taken care of their customers the best right because right now when the pricing you know is starting to come down and everything else everybody’s questioning

am i getting paid really what i should be getting paid you know now is when your service shines right the farther if the price comes down your service better be damn good because now you can’t just go in and quote some high number you got to actually have something behind the map and and it’s also boils down to the culture the culture of your employees doing the right thing you know being efficient when the pricing is going down when that buy you bought last week isn’t good anymore you know them getting it through the system quickly and most efficiently so you make a little bit of money yeah that’s equally important too because it’s easy to make mistakes and have the market cover your ass but it all really shines through how good a business you are when the market’s you know and the other thing is you’ll really see who actually put money back into their business when they were making money like when the market comes off and this is why i love the scrap business because you’re about to find out who sucked every penny out and bought a bunch of

or who didn’t do the right thing and keep their equipment maintained or add equipment or keep their you know the right people employed or whatever that is because when it starts to get tough and it start and it will at some point right i don’t i’m i’m a big believer that we still got another run in us but as the times get a little tougher and they make you you know work a little harder you’re about to find out who actually did the right thing when times were good absolutely and i guess only time will tell time will tell all right well thanks brett all right have a great day