Metal Monday #16 with Nick and Brett

June 1st, 2020: Make sure to listen in weekly as Nick and Brett discuss where they believe the markets are going and why.

Transcription

I welcome everybody we’re here with another metal Monday it is June 1st how you doing Brett doing good man just living the dream cool man so so well we saw copper last week looking pretty good this morning right now it’s looking pretty good up another 4 and a half cents yeah man it’s kind of this morning so I was good taking a rough you know taking a run up you have any thoughts of why it’s doing that you think it’s gonna keep going yeah I really I think it has I mean obviously China came out with a their factory orders and you know their economy is looking a little bit better than maybe people had anticipated and maybe even that they had anticipated which I think that’s driving the copper market you see silvers taking a good run today platinum palladium is in gold ore moving in the right direction so I think it’s supply demand right now I think the economy was shut down long enough that it kind of disrupted the supply flow mm-hmm and that’s what’s I think I thought you’re seen as handing in the Feres market the Feres

market is going to be up this month nobody really knows how much probably depends on the grade of material but the supply is is and was disrupted long enough that it’s it’s even though the demand isn’t off the hook significantly larger than say last year at this time the the supply is unavailable I mean so they need material on material they need them back down to material to operate and if the material is you know if the steel mills are even at say 80% of what they were last year mm-hmm but they can’t get nearly the material they could get last year that’s why we’re seeing the price kind of come back around in my opinion which would be nice which will obviously if that happens it should bring more material into all scrapyards which would benefit the male’s the shredders there will be that supply to man where that thing kind of X’s out and that’s gonna be you know I don’t think we’re not there yet because the prices have got to come up to see you know people crush more cars and you know more retail scrap you know landfills

process their material stuff like that that is you know usually good volume into scrap recycling facilities you have to see the automakers turn back on yeah start producing that’s why you’re gonna see we don’t see a lot of Bush lean but you know the Midwest where they do you know that bushing price from what I’ve read and what I’ve heard is gonna go up dramatically just because there is not a large supply of it do you think when the automakers get cranking again and get rolling that you know that will help aluminum I can only hope so I have neither got any help that yeah yeah that’s a tough and you’re seeing like aluminum wheel prices as low as I’ve ever seen them you know you know Lumina yeah ham prices I mean this is one of the first times I’ve seen aluminum wheels and aluminum cans within five cents of each other which is really unheard of yeah I’m seeing that you know good you know non chrome aluminum wheels almost the same price aluminum cans aluminum is is a tricky market right now it’s definitely tough that’s why with what we do

you can never get too comfortable on falling into the trap of saying that’s how we do it because how you did it five years ago is different exactly it’s differently gotta get growing and that’s that one thing I like about this find this mystery you know and find it find what you’re good at and you know but don’t be ever afraid to retool your machine and adjust and to move forward absolutely okay well next week I’m hoping to bring you I mean Brett are both hoping to bring you kind of a special part one – the tornado app with us is a nerd guys with the – Pete’s yeah it’s gonna be cool and we’ll see you guys next week thank you thanks