[0:04]
[Music]

[0:10]
[Music]

[0:21]
Nick: All right, it has been exactly one year since we had this special guest join us for Metal Monday. It’s a Wednesday, January 3, 2025, and we are fresh into the new year. I think people are just getting through the weirdness of the holidays. These last two weeks are always a mess when you’re trying to run a business, but they’re also very fun if you have kids or family to spend them with—which I’m blessed to have both. So, how are you doing today, Justin?

[0:53]
Justin: I’m doing great, man. Happy New Year to you! I hope you got a little bit of rest over the past two weeks.

[1:01]
Nick: I got a little bit, but I’ve been back at it since yesterday. Happy New Year to you too, man. So, what are you seeing in these markets? Copper’s getting its ass kicked. What’s going on?

[1:11]
Justin: Yeah, Copper’s definitely struggling. Why? I don’t know—I wish I had a crystal ball. I’m just trying to keep selling scrap. Copper’s been soft, and honestly, nothing’s been great lately.

[1:35]
Nick: What about the ferrous markets?

Justin: Ferrous is down too. Here in South Florida, we’re a heavy export market, and we’re hearing that ocean freight costs are going up. That’s putting pressure on shred prices—at least where we’re shipping from in Miami.

[1:54]
Nick: So, you think things are down in January?

Justin: That’s what it looks like. A year ago, we were saying the same thing. It’s not looking too strong. Here in Idaho, things are soft or sideways—nothing firm on the books yet. I assume trades and contracts will get signed next week, but for now, it’s soft.

[2:27]
Nick: I’d take a sideways market at this point. It feels like we’re due for an up-market on the ferrous side.

Justin: I agree—it feels that way. Hopefully, we’ll see things bounce back in the non-ferrous markets too. Let’s see what happens after January 20th.

[2:46]
Nick: I’m wondering where the bottom is on this ferrous market. We’ve been losing steam for months.

Justin: I’m hoping we’re near the bottom. Hopefully, later this quarter or February, we’ll see some up money. My crystal ball—though usually wrong—says we’ll get an up market in February.

[3:25]
Nick: Yeah, for now, you just have to adjust to the current market and focus on customer service.

Justin: Exactly. We control what we can—like service. I can’t control if ferrous goes down $20 a ton.

[3:46]
Nick: It’s been weird the past several Januaries. For as long as I can remember—20 years—Januaries were typically up on the ferrous side.

Justin: Yeah, but not anymore. Between freight increases and things like the East Coast longshoremen strike that might happen on January 15th, it’s putting pressure on the market.

[4:23]
Nick: A strike? What’s going on there?

Justin: The longshoremen. The last strike lasted 3–5 days, and they put a temporary gap measure in place. January 15th is the deadline to get a deal done, so I’m hoping it happens. Otherwise, it’s going to affect shipments—especially here in Miami.

[5:02]
Nick: Are your yards right on the water, or do you ship differently?

Justin: No, we load everything by container here. We’re not on the water. There’s no bulk shipper in the Port of Miami. Tampa has more bulk shipments, but that’s on the west coast of Florida.

[5:41]
Nick: Got it. Here in Idaho, most of our material goes to the Port of Portland. We use both truck and rail since we have rail facilities.

Justin: That’s great. Rail has its advantages. It’s all about having good partners and forming strong relationships in this business.

[6:16]
Nick: That’s one of the things I love about this industry—the relationships. Even if we don’t do business, like with you and me, we’ve built a connection over the years. It’s one of the last industries where relationships really matter.

Justin: Absolutely.

[6:51]
Nick: So, what’s going on with Uptime?

Justin: Uptime is growing—we’ve hired new salespeople, and things are looking good. Between that and my role at Coastal, plus three kids, I’m a busy guy!

[7:13]
Nick: I hear you. I’ve got two kids, and we’re busy here in Idaho too. We’re working on innovating tire recycling—it’s a big push for us. You should come out and check out our tire shredder sometime.

Justin: I’d love to. I’ve seen some of the other equipment you’ve put in, and it’s awesome.

[7:51]
Nick: Thanks, man. We’ve got a few things planned for 2025, so stay tuned.

Justin: Looking forward to it!

[7:59]
Nick: All right. Thanks, Justin—appreciate you joining us.

Justin: Thanks for having me, Nick. Take care.

[8:03]
[Music]