foreign welcome everybody we’ve got another killer Metal Monday not today is actually decent right like it’s I mean I I’m at that in a good way yeah killer like like the market there’s not blood red every across it looks like Christmas lights yeah yeah a little bit on the PGM side but um but everything else is like everything else is in there it’s like at least copper goes hanging on that 407 408 range and um I think aluminum is the only like base metal I see that’s really you know and it’s even that didn’t you know it’s not getting crushed it’s just good ways really yeah it’s not uh it’s down a fraction of a penny so in all all reality it’s we’re within within reason nickeled up a little I mean but nickel and aluminum really did take a pretty big uh dip the last like 30 days yeah for sure so I mean is what it is like and we adjust accordingly move forward Ferris is the first is up man I mean looking a lot better it’s you know you’re gonna see anywhere from 25 to you know on the 60

70 range up in like some grades like I think like not necessarily on the West Coast or over in our neck of the woods but Midwest Midwest um for sure um depends on if you’re if you’ve got you know Bush lane or you know number one type material then you’re going to get a good premium for that this month um you know but in general I think the ferris Market is looking pretty strong and I I tend to believe at least today it could change but I tend to believe that April could look the same way not necessarily up again that much but stay fairly healthy fairly strong because I’ve just been waiting every time we see three four five months of UPS yeah you’re waiting for that month and it might not be a killer but you might be waiting for that month order to dip a little but you know the way everything I’ve been reading everyone I’ve been talking to like it doesn’t seem like that dips coming and like you said that could change next week we talked about it Chad and I talked about it you know and it

really is relative to the market you’re selling into if you’re an export guy or if you’re selling into say rebar Mills or whatever which is primarily a lot of what our consumer base is we’re not going to get that premium that the hot roll coil cold roll you know the slab plate plants are getting right like we’re just because that material is in a little bit more demand than say rebar right now which you’re probably noticing with you know construction starting to slow down I think that the commercial construction you know your big big rebar you know users and but you know there’s still a fair amount of rebar that goes into residential construction if if that market slows like it is right now and continues to slow then you know rebar homes or something like that may you may not get the big premiums that the other steel mills are getting right now so but at the end of the day take it you know take the upside that you can get um because who knows how long it lasts but if you’re in the midwest you better be fighting for every dollar

because the the pricing on this on new steel is up in a big way when did it go up a hundred well I mean in some spots it’s it’s really up like say anywhere from five to seven hundred oh wow in the last say well from the bottom I’ll be like I would say like November of 22-ish when it kind of bottomed out to it started to climb back so I mean you’re still up I mean anywhere from that five to six seven hundred bucks you know and and you haven’t seen that on the scrap side like nor will you get to see it no no you’ll never see that no you’ll never get that I mean the steel mills are back to you know eating prime rib again they’re off the ramen noodles no more McDonald’s well I don’t think they ever got to Ramen noodle stage but I think that um their margins definitely got squeezed a little bit I mean but they’re historically wide margins right so you have to take that into consideration any news on pgms not really I mean nothing to like nothing Earth shattering I think

if Automotive or as Automotive picks back up you know I think that you know that that will see some benefit you know I think I was just reading um an article on Kitco last Friday and they were talking about one of your big PGM miners was talking about you know that they produced less volume of material this year than they had in the previous year so I think that’s kind of true across the board um Palladium is probably still under pressure it’s probably going to be under pressure Platinum because it’s so it’s so such a big part of say even the hydrogen market and like you know I think that there’s there’s opportunity there and rhodium just because it’s so under uh mind or you know there’s only it’s it’s it’s it’s really scary a lot more scarce than Palladium there’s just a lot a lot less out there so that market really is why it swings so hard is just because it’s it’s not as liquid it doesn’t move up and down as you know or doesn’t uh there’s not as much volume moving through on the trade side so the moves are

bigger right so any big cell or buy can really run it one way or the other right or any perceived strength in that market you get a few you know you know a series of strong orders all of a sudden you’ll see you can see it climb you know pretty quickly so pgms I mean depend and a lot of that’s dollar dependent right so you know but also industrial pgms Platinum Palladium that you know though that’s also kind of economic driven as well so there’s so many factors you know that that play into pgms that you have to kind of keep an eye on and see what they’re doing and even back to Copper here in Idaho I met with two owners a big electrical Electric electrical companies that they do Residential and Commercial they said that they you know they didn’t see a lot of orders coming in last like three to six months you know yeah but it’s picking back up they just told me that they’re hiring they’re out hiring again so they think in our area to some of that building kind of opened back up and we’ll see if

that really comes like I said we talk about all the time but a pause on the interest rate not necessarily a break on the downside but just a pause one of the guys here we were talking about earlier that he um he’s buying it buy a new house and he got his interest rates on a 30 years six percent right which he’s like gosh it seems high I’m like well my first house in 2005 into 506 early was I was at six and a half percent and and my parents were like that’s a great interest rate right and because they were used to 10 12 14 15 like you know coming out of the 80s and late 80s and so for them to you know for me at six and a half on a 30 was like damn that’s good so I was kind of trying to express to him like you’re not in a bad position you compare it now my house when I bought it was 140 000 right yeah and at that time I was like oh that’s a lot of money six and a half percent like but I was

I was single and I didn’t have any bills no kids and yeah yeah but it’s all relative it’s all relative to you know what you’re doing what you’re making but also only made 40 Grand a year yeah so you know you know a lot of people right now like you’re not starting a management type position at you know 40 Grand a year coming out of college or with you know whatever you know education level maybe you are it just depends but it’s a lot different well just like anyone that asked me about pricing they say was that good I’m like well it’s hard for me to even answer that like I think it’s good yeah I’ve been doing this for 13 years you know yeah to me it’s good now if you want to look at it through the lens of uh you know six months you know might think some of it’s shitty yeah or a year like but so it’s all about the lens because my parents bought their house the same thing I think they was like 15 16 so when we got our first one they’re like that’s awesome that’s

crazy and I think so it’s all perspective you know interesting yeah interest rates will hurt you know higher interest rates I think hurt the you know people trying to build an asset based I think it really does you know your first time home buyers you’re people with you know that are they’re you know struggling or have high credit card debt debt those interest rates really hurt those you know and I think not I think they hurt them more than even in my opinion like a little bit slightly higher inflation yeah you know but what I’m not no Economist I’m just a guy that buys and sell scrap metal but we can see commonalities yeah you gotta pay attention to what’s going on in our business because there’s a lot of factors that affect you know the day-to-day well thank you everybody we’ll be back next week all right have a great week thanks