Metal Monday #12 with Nick and Brett

April 27th, 2020: In this episode, Nick and Brett go over the metals markets at the end of April and discuss the potential for upsides later in the year.

Transcription

all right everybody we’re here for another metal Monday we’re at the end of April headed into the next month what’s the 26th or some 27 seventh good it’s almost May we’re almost there so last week we saw some of the markets kind of dip and recover towards the end of the week do you have any big takeaways from last week Bret do diet to be honest like I wish I knew I wish I had any sort of Duryodhan because I haven’t never I haven’t been this confused in a long time which I’m easily confused but I’m more confused I think right now more than normal yes might happen in a while just because I it feels like you know your industrial your base metal should be up price-wise just because I think that the economy is gonna try and reopen you know in phases or whatever so it feels like there could be some potentially positive momentum but you know the demand seems to still be there for the most part but pricing wise there’s really no indications at least on the ferrous side going forward I feel like non-ferrous wise

you know could be decent yeah I think like we’ve seen copper hang around that 230 mark you know I yeah feeling like it’s gonna take a run and it just hasn’t but can I just kind of wait and see you know like you said I think a lot of people are in the same boat like no one really knows yeah it’s gonna go I think you know when they get everything reopened obviously then we’ll see some big moment hopefully up and it’s yet to be seen it’s gonna be if this just if the demand is gonna be there I think the demand will be there it might take a little bit longer than maybe initially anticipated only there’s gonna be like a snapback but I think that give this you know it’s an election year it’s tough it’s crazy is volatile but I’m still pretty pretty positive I’m pretty optimistic about where this year could end mm-hmm it’s just you know we’re already gonna be in May so you know almost half we’re halfway so it’s I think we’ve got good potential we just got to kind of see where this thing shakes

down oil getting crushed doesn’t help our cause no but well the reek laughs classification of your base metals into China when does that completely resume June July June to July yeah so I think that hopefully the timing kind of hits just right where the country reopens that hits I think you could see some really big runs looking for copper and aluminum yeah there’s potential potential movement there they just have to have some demand though let’s see that’s the biggest thing and yeah I’d be the demand so well that’s all I know and the hopefully next Monday we’ll have some ferrous indication yes we’ll be like May 3rd for somewhere in there and Ford somewhere and we’ll be able to give some guidance awesome Thank You Brett we’ll see you guys next week appreciate your Nick Thanks thanks guys