Metal Monday Episode #33 with Nick and Brett, August 12th, 2024

Brett and Nick are back for another Metal Monday to discuss back to school, green markets, and the difficulty in predicting the scrap market. Tune into the latest episode. Produced by Recycled Media.

Transcription

how you doing Brett good man how was your uh weekend it was awesome I went to went to build to spill old band I’ve been listen in since I was like 15 and I went to a 30-year reunion of one of their albums it made me a little old I was one of the younger people there too but it was a good time went with the wife ran into a few old friends nice was really anticipating to seeing and uh went to a show and then just did the art work for us concerts funerals and weddings that’s how you get to get see see buddies that you haven’t seen for a while it’s true yep it’s a good time how about you it was good man I didn’t can’t say as I accomplished a whole heck of a lot um other than just kind of getting ready for the week um hung out with the family kids kids go back to school this week so wife went back to school into last week she’s her first days today so you know things are about to get real hectic around my house Summer’s

over suckers get your ass back to work the part’s over everybody kids everybody teachers y’all got to get back to work now yep same here my kids are getting ready Wednesday is a big day at my household my oldest going to college nice just feel feel old at the beginning of this she’s G the youngest seventh grade so big day Wednesday’s a big day at our house so first day of school right for the kids I got to go take my annual pictures of the kids at their first day at school cuz my wife’s that’s her first day of school for the her kids com in her class so yeah Wednesday I’ll be a little bit late to work I got I’m like the photographer M but it’s all it’s fun a moving man dude at least you I don’t know if I’ll make it at least you did that I got to move a child to new dorm when did they move in Wednesday oh same day is first day kind of worked out kind of cool that way because we’re gonna get one more picture we always take a picture of them

in the by our front door yeah every year we’ve been doing since we’ve lived at that house and it’s probably this could be the last one yeah you know so it might be kind of a a cool last photo nostalgic moment bring your tear to your eye well at least this scrap Market didn’t bring a tear to our eye today at least we got a green Metal Monday we’ll take it that’s why we both got green yeah cans we said well we’ll drink the lime today we got green copper up 78 cents today it held on too I mean it really like chugged the lawn like early this morning like two three cents and just kept kind of kind of ripping y um and then everything else is up a little bit Copper’s a big mover today everything’s looking positive I don’t know why it’s doing it I know if you know if it’s an adjustment from week ago the market was melting all of a sudden now everything’s fine yeah it’s a adjustment it’s a wild world we living you think that’s how it kind of works you see a huge up you

usually see a small downward adjustment to like the real to the real Market Chloe’s here everybody the real boss get him yeah or um a downward Market you kind of see the settle you you know what I’m talking about yeah that’s what I always see like I don’t get too high cuz I’m like oh I’m ready for that I think it just depends on what’s going on man it’s like if if you could predict it then you’d be rich like it’s just the way it is I think it’s there’s so many like ex outside forces and inside forces pulling and pushing and moving and people making bets on the upside and people making counter bats on the downside and people starting Wars people trying to stop Wars people you know what’s going on in this chi in the Chinese economy what’s going on in the Japanese economy what’s going on in ours and you have all these forces and like there’s a reason why very few people make a lot of money trading Commodities like your big you know big Commodities trading firms like they do really well in markets like this that are

very seesaw but the average scrap seller buyer Commodities Trader that’s just kind of you know like you’re not you’re just guessing like everybody else the guy’s writing articles about price of copper is going to $5 like he’s full of you know they’re everybody’s guessing I mean we just hope that we make enough good bets to counteract the bad bets and we keep it moving you know so you made a post the other day about China about how they inventories are Skyhigh yeah you made that post the day after our web developer shout out to Zeke out there he he text me asking me why then you made that post but when you see that that just means they have a slow economy is that what you’re thinking that’s why it’s stockpiled you they keep it could be a few different things right I well I mean I i’ you could read into it whatever you want to right but if you’re a developing country still and you need a certain amount of Commodities to which is copper is one of them to develop your infrastructure your power grid everything else plus you own a

bunch of the big refineries I mean if you’re China consumes anywhere from 40 to 60% a world’s copper just depends on who you talk to and depends on the the month of the year right but if and and your economy is sputtering well you’re not going to just lay off all your um workers at all your refineries like one thing that’s for sure about China whether it’s the steel business copper business aluminum is they’re going to keep smelting they’re going to they may even smelt at a loss but for them that’s part of you know that’s we have welfare we have other programs they have get your ass up and go to work we’re going to we might lose some money on Copper but we’re going to go to work program kind of like that like it’s it’s earn what you you know earn what you keep right and I think that for my standpoint you could look at it like that you could look at it as they’re gonna they’re getting ready to go to war so you and if you in a wartime Comm wartime situation like part of one of the

articles I was reading was if I was Taiwan I’d be nervous yeah like why would you stockpile that much copper unless you unless you were worried about your not your ability to not be able to buy for a while yeah I mean or it could just be they’re anticipating a recovery in their economy or it could be I mean you could read into it whatever you want I don’t know that anybody really has the answer it just depends on what side of the fence you sit on right and so but you should be aware just supply and demand matters because if they have that much Supply which means there probably is some sort of lack of demand out there and not that the Chinese aren’t buying they just maybe aren’t paying the premiums that they were like if if when copper goes to $58 that fast well the spreads open up really big right so we it’s not like our prices go up a118 from $4 like we might get 60 70% of it but the spreads open up so quick because everybody’s worried about that fall off the other side of the mountain

so you know we’ll get some of it and you try and sell it as close as you can to the number but you know that that’s just the Traders trading right I mean that’s people you know betting short that’s people betting long and everything in between so I I don’t know that I have the answer I just try and just put the information out there and say hey read do what you want to you know we know the numbers yeah do what you want to do with it right but I’m I’m going to keep the keep it moving because I don’t want to sit on it I mean on my hands in hopes that you know the price goes higher I mean I’ll take the up days like today we’ll take it mean aluminum’s up nickel’s up yep pgms are up yep that’s a good day for us if you sold anything and if you didn’t sell anything it’s just it’s just a good day CU markets aren’t down it keeps tearing we’ll see you know well we adjust on The Daily we and then we live to find another day absolutely all right

anything else you want to touch on not at this time we got the you know the link in um 75 hard Club coming online you know we got a lot of people that are interested so we’re we’re getting all that done in the background and uh got some cool things we’ve been working on and just doing what we do man trying to let everybody know what the markets are doing that the newsletter and let everybody make their own decisions all right thank you everybody