all right everybody we got another live Metal Monday please get some comments questions in there and you know we just were waiting for ER to have a small rebound so what’s going on out there Brett been a blood bath man that’s kind of what we’ve been uh experiencing so we you know we just wanted to wait and wait and finally this morning we got a little bit of uh little bit of up up day in us so we’re like let’s let’s hurry and knock this knock this thing down I felt like talk about the market I felt I felt like we’re more headed to 375 but we’re back you know what four 4:15 where we at right now yeah it was yeah somewhere in that range I mean I think like December which I look at for like copper chops and stuff was like 423 or something like that so um but as today’s like today’s comx yeah they’re somewhere around that 4 420 right now 412 415 420 right now is what it looks like y um so we’ll take it hey we’ll take it right is that the FED meeting

that they’re talking about e up on the rates in September is that where some of this traction yes I think they that’s what kind of prompted it this morning was the anticipation of the FED meeting and the rate Cuts potentially and maybe some easing back into the economy I think if they feel like inflation starting to level out or you know work its way down then I think there’s going to be some room to drop the rates but they needed to slow the economy down and effectively I feel like they they’ve done that now right so I mean anybody on the in the scrap business you know you’ve been you know you’ve been you know watching you know your manufacturers your commercial accounts anybody that’s producing you know material has has slowed down I mean I I a lot of our accounts I mean there’s some that are still busy but not nearly at the clip that they were you know last couple years so yeah Le the FED has definitely found a way to get it done um and that’s with higher rates and it’s just less people financing you know I kind

of liken the higher interest rates to when the price of scrap goes down like it takes people a while to adjust to if you were let’s say $300 iron and now you’re $200 iron or people like well I’m just going to wait for it to go back to three so then they hold and they hold and they hold and they realize like 200’s probably going to be the number for a while right so then it’s like but it takes it’s a mental hurdle for a lot of people or a financial hurdle either way for people to get over and I feel like that’s the the interest rate I mean it sucks a lot of the gas out of the market and you know people are oh I’ll just put off buying a house you know maybe till the interest rates go back down to 4% or I’m gonna put off buying a car I’m gonna drive my old car for a couple more years because I don’t want to pay 7% interest or 8% on a car loan right so the I think that that’s exactly what happens in the scrap business which like

if if you get a big drop really quick you can see flows just kind of slow down in a big way and that’s what spiking interest rates does it slows everything down for a while till people get used to that that being the new normal right yeah you know you could even just on like a yard level we we see that same mentality when it gets really hot or really cold people just wait they want it to be perfect or better then you know when it’s still 110 degrees outside you know people’s like well I better get rid of all this extra copper or whatever it is you know so I’ll always come back to like when I when I went through and did my like NBA program I did a a study and you know all these smart people in my class and they’re doing all this like smart people stuff I my my like my uh uh senior project one my one of the things I did I can’t remember which class it was but I studied the dist I did historical like volumes um against pricing and against like temperatures for

the weather right so I kind of really couldn’t tease out say like rain or snow or it’s more just like the temperature like the temperature for that day and the weather didn’t play as big of a role in scrap flow as you might think as much as priced it right so pricing was the driver for volume and so and I mean not weather does play a little bit of a role but not nearly what the role that pricing drives you know like that that is the the key factor so if you do get these like big drop offs and you do see flows come off I mean part of that deal is is pricing dramatically went down you know compared to what somebody might have been able to sell it for a week or two or a month ago you know so they tend to hold on at least for a little bit until their garage is full or their warehouses Bull and they’re like it like we got to get rid of this stuff like the price ain’t coming back anytime soon we need space you know do you um do you anticipate

this information with these markets being a little Greener Today to help Ferris for next month I know you’re going to get in that I don’t think it hurt hurts I I don’t think it hurts you know I don’t feel like there’s enough you know I feel like for now I mean I don’t see a you know a whole lot of downside in August you know anybody really you know depends on what the mill what every every meal is different you know whether it’s maintenance or service or like what they have for volume but it does feel like we’re going to chop along here for a little bit you know maybe there’ll be a little bit of you know upside in a couple key items you know whether that’s like a like a bush Wing or something that maybe somebody short on or something like that you know but I feel like shred is you know it’s it’s inbalance probably HMS it’s probably inbalance from the people that I talked to so I don’t see a big upside but I also don’t see like a big you know downside in August either so this with

if the markets come out and people feel a little bit more positive I mean maybe that does help the help at least the C senent you know but Mills don’t really go off sentiment very much it’s mostly like tons what I have sales against tons I’ve got in inventory what I think I can buy like yeah volume non-f farest trades VAR sentiment like right like it’s very can back the market can swing in a big way I mean you’re seeing with copper it can be you know up 10 20 cents a pound in a day you know on big days and the same thing is true like big ranges you know you know I’m really off of sentiment well and shout out to Justin Trenton de for calling me out for bitching about $4 copper yesterday you know look but now we’re back to 420 copper Justin yeah exactly There You Go Justin we’re uh we just a bunch of whiners and complainers over here but you know aluminum’s bounced a little bit you know nickel um nickel bounced a little bit off seven bucks so I mean you know it’s so hard

these markets are so tricky and you know like we talk about this all the time is we’re not out there hedging these things or you know we’re not you know huge volume buyers you know of one one specific items so you know we’re living and and dying in the markets we’re buying in right so um but I could see how it could be really tricky if you were you know a big copper buyer you were a big you know um you know whatever other whatever other of these metals are super volatile you know whether it’s aluminum or whatever just trying to keep it you know trying to keep a beat on this Market is tough yeah I I hear you yeah and know and when we see it dip like this it can be nice for for like your cash flow too when you see a dip like that we get back to normal especally when like when that copper gets to 520 like that’s just inflated that’s just kind of crazy you know right now you know so where where it’s going to really be like in 2025 it feels like we should

be 4:30 to 460 you know you know I got a couple comments on here Alex Winkler says shout out to Alex Alex I just got to talk to uh I just had lunch with one of your your uh new colleagues so I won’t I won’t ruin the surprise for anybody but uh Alex and I have done some business you know over the years and shout out to uh Alex and I don’t think you’re wrong man um 4 430 is probably it could be in the cars just as well as $4 doll right and if we either if either of us knew the answer or either of us uh had the nuts to bet on one side I mean probably could make some real money but I think we’re all we’re all guessing but sure I would I’d like to see 430 this week I’ve got some I got a little more material I can move and also shout out to can SEL thanks for watching us buddy we appreciate the business from you and shout out to you and your family absolutely so what else you got cracking over there man you know

over here you know we kind of had a few days of cooler weather 90 degrees you know but we’re ramping back up to 107s 108s and and honestly you know it’s you know I got a few visits for some some job s to go look at you know we’re still just cranking away over here and um hoping for some good feris pricing you know yeah go my Chad L Brock on uh hopefully Friday and we’re gonna talk about the feris markets and kind of see what he’s seeing out there the the feris guru and kind of let us know you know what what his opinion is on these markets um it I’m hopeful he isn’t too uh bearish bearish on me uh this month it’s been it’s been a rough go by the last six months but I don’t know this it’s the dog days of summer really I think it’s just kind of the typical typical typical of the way it goes I I genuinely think we could see you know a little bit of movement you know come September October you know as we get closer to winter months on the feris

side well that brings me up uh September 1st we’re doing the 75 hard challenge we’re going to start getting some links out there if any wants to join it join a group that I think you’re gonna make Brett we’ll invite you build go on LinkedIn and build the um the group chat we’ve had a lot of interest people that want to be a part of it and so yeah if we can get that get that fired up and get everybody um you know encouraging each other talk to each other you know the importance of you know just you know the physical side of of our business and trying to keep keep ourselves moving and and motivated to uh get through these election cycles and this rest of this year see how it goes and we got just a few other surprises so stay tuned and we’ll get that out to everybody so absolutely all right guys we another live Metal Monday anytime anybody wants to log in you got some questions um don’t hesitate to to fire fire them off on us we uh we’re here to answer here to help if we can

and or if anyone want if anyone wants to join we can add people can have more than two on here on this live so it’s real simple to you and you can add your streams and you can stream this live uh to all your you know followers so feel free to reach out to one of us okay all right man we’ll keep doing these live they there you know we’ll kind of get some consistency built into it so people kind of know when we’re going to do it and then hopefully we’ll get some people to uh either join us or ask some questions or whatever go from there all right thank you Brett thank you everybody for joining us