Metal Monday Episode #11 with Nick and Brett, March 13th, 2023

Nick and Brett are back for another Metal Monday to talk metal pricing! Make sure to send any questions you'd like the guys to answer to (208) 487-4311

Transcription

foreign metal Monday’s back how you doing Brett I’m good man yourself doing well man doing well I’m waiting for spring to show up in Idaho I mean is it coming I I hope so I think that August is going to be open to me if they’re at least don’t run out what is it like runs out like April 1st or something I gotta shut it down I can’t remember they have like a certain amount of time like they’re only allowed even if they have the snow they were they opened a couple weekends in April last year did they remember that oh yeah they like real I don’t know I wouldn’t know I don’t even have the chance to go anymore so I’m kind of like open invite I know I know or anyone out there if you want to go to bogus especially during the week I’m in like my dad engulfing I just always ask my dad you know not why he why he didn’t um why isn’t golf nearly the amount that he used to and he goes because I’m not trying to get out of work anymore because now that I

can golf whatever I want I’m like it’s exciting so I’ve only gone I took our friend Jake bronstein up there it was a weekend though yeah I’ve only done like one work thing up at bogus but it was awesome it was it was great um what are the markets doing let everybody know welcome to the United States where bad news is good news and good news is bad news I mean I don’t know that whole SBB Bank deal on Thursday Friday last week went I mean I don’t even need to talk about it if you if you pay attention in the world you probably know what’s going on um and that’s kind of hit every Market weird today right so it’s Commodities I mean it pushed the dollar down because basically they say you know you know the narrative today which can change this afternoon or tomorrow is that okay maybe the fed’s gonna be done pushing the rates up so hard so fast um they finally broke something maybe that’s you know that’s the you know that’s what they’re talking about because they were a few weeks ago they were talking about continuing

yeah going even harder right well I think at some point something’s got to give and I’m a True Believer that the rates you know if they could just relax a little bit and let it let the what the work they’ve done flesh itself out but I’m no Economist you know I’m just a dumb scrap guy so but I mean essentially that’s what’s happening with the market today you’ve got the the anything that’s your pgms gold silver Platinum Palladium everything’s ripping this morning um and that’s just that’s just a because the dollar I mean you know I think they trade in momentum um it’s a momentum trade you know which way which way to go the stocks were this morning it was off you know they were getting hammered and all of a sudden that you look now and the Dow’s up 300 points yeah everything is up within the dollars down and so even copper was down early it was 398 and now it’s up three three and a half four cents so if you know what’s going to happen please call me and let me know like the future because I have if

you can if you have a crystal ball and you want to join Metal Monday bring the crystal ball and we’d be glad to have you ultimately the biggest thing is just do run your business like the big takeaway is svb and all these you know whatever they’re doing like whatever the FED Reserve is going to do and yeah back stuff all those people that had more than 250 Grand in the bank they might get screwed yeah but that but they were until the FED just came out this weekend and put that uh TBF T trade or basically backstop against all deposits up to 300 billion dollars which isn’t necessarily quite like you know a true bailout it but it is basically like that money has to come from somewhere so even in the form of a loan which is what it is it’s a one-year loan against your depositors that you’re willing to back up these small Banks right that so that anything over the 250 now you can you know have some reassurance that your money’s still going to be available but that money is even as in the form of a

loan has to be printed it has to come from somewhere yes even if you get it back like it’s supposed to come from somewhere right now and I think that’s the that’s the missing thing it’s why Commodities are important why owning physical assets is important because the uh the dollar isn’t going to get I mean it might temporarily be stronger but you can’t be printing money on the back side of it over and over and expect what everything you have today to be worth less in the future if it’s a physical asset I mean yeah the price of property might come down the price of residential property might come down the price of copper might come down the price of the aluminum might come down but the trend is is only I think up in the future just for the long run for the long run yes yeah 100 like yeah safer buying copper investing in properties like rentals because I can own grab it rather than stocks now I want a little bit of stocks but it feels for me how my brain worked the tangible assets and that’s why I love doing

buying scrap because I can see it you know I can weigh it and I know what it’s worth rather than trading like Futures like some people do like that stuff is just like I’m just not smart enough for that you’re more like oh I can buy 2 000 pounds of copper for this and sell it for this and and move on with the life you know yeah I read the funniest meme uh this morning and it was I remember when I could go to the grocery store and I could get two rib eye steaks four bottles of wine three bags of chips and a couple cigars for 25 and I walk in the store 25 and then and then security cameras got really good however it was something along those lines and I’m like but essentially like the the price of everything isn’t going down I mean you can fight inflation all you want to but if you’re uh still printing money then which is what’s happening it is what it is so be patient I think uh I think it’s what goes around comes around and you know I think that the price

you know the price of Commodities are pretty well priced and I think there’s still opportunity in them you know especially your base Metals your pgms you know that dollar trade only lasts so long so I’m still pretty optimistic about where we’re going on the scrap side all right well we will keep everybody posted and um and yeah we’ll be back in a week all right have a great week