Metal Monday Episode #6 with Nick and Brett, February 7th, 2022

Brett and Nick are back for another episode of Metal Monday. This week they discuss how the market is looking for February so far, with predictions on how that will impact the coming months.

Transcription

all right another metal monday and we are into february on our pricing brett how is ferris looking for everybody looks good on this end um west coast is strong export pricing is strong so that’s helping helping us maybe not helping people in the midwest or that are more landlocked yep per se that don’t get that because they saw a fall midwest right yeah i think they saw a fall and some of them they were trying to push it down when i say they i mean maybe the domestic steel mills but i feel like they they didn’t get as much down as they thought or wanted because i feel like some of those markets actually went sideways because the export market was just strong enough so the exports suck in poland as much as they can to the coast um and and that market looks fairly strong at least it did last week um with the dollar getting kind of hammered so for us the market looks good i mean you know we’re gonna be up money in february depending on the grade depending on what’s going on so we feel good about that

i mean obviously we kind of held off last month because we felt the drop was not warranted i just didn’t feel good about it and so maybe we’ll get a little vindication in february and to be honest like i think march can be even better so that’d be great i mean in copper we saw copper dip to 4 30 um a few weeks ago two three weeks ago we saw it get back to 450 today down to four or four 45 you know but still like you see you’ve seen that market continue to be strong aluminum is just a monster nickel yeah nickel is brushing up against 11 bucks yep yep so i mean if it took forever until we thought it would break 10. now yeah almost past 11. uh today platinum played him off a little bit but overall they’ve been strong podiums up rhodium’s up a lot so that’s what is rhodium up it’s up a good jag i saw this morning but uh and you’ve got you know platinum platinum was and palladium were both off a lot you know platinum by 20 something palladium by i looked at one

times down 80. yep um and that thing’s battled back you know pretty hard so far we’ll see where it ends but um you know the pre the pgm market’s still good and you know i forwarded you that article and i posted on linkedin but i feel like in you know i just pay attention with guys like matt watson’s they’re out there saying and you know he’s a pretty good barometer for that those medals in that market and if he feels that you know some something’s going to be strong he’s worth listening to i mean you still got to make the best decision for your business and does it make sense to sell or hold or whatever the case may be but um you know i feel like this could be a really good year for the pgms and you know a lot of your base metals as well yeah it feels like it could really just be a good year all around including ferris maybe you know yeah we’ll have to wait and see obviously it’s hard to you know no one can predict what’s going to happen in six months so be it

one month but you know the forecast right now real positive on everyone i’ve talked to everything i’ve read you know i hope it just keeps going so i think i think it’s warranted to keep going i think so i think so as well i mean i’m you and me like we’re probably we’re like we’re always optimistic but i also i mean i’d tell you i think this thing was crashing you know i’d say because i kind of thought that january like that we might see some have a rough year you know when we saw some off markets and things started to dip a little more and it just kind of i kind of was on my heels a little bit but now the more stuff i read and the more people i talk to i feel real good about the at least pay attention to logistics pay attention to freight pay attention to what’s causing people to move around and you know it’s that’s a big big part of where material moves is what’s it cost you to get it somewhere you know that’s a big decision a big part of the decision making

process for guys like myself that are out there selling scrap every day and a lot of people don’t think about the the hauling side of it but obviously us with a hauling department like that’s on our mind often 100 yep all right guys hope have a great week enjoy the super bowl and uh we’ll sit down and make our super bowl predictions yep and at the end of the week and go from there whatever we pick just do the opposite so be all right all right