Metal Monday #18 with Nick and Brett, May 3, 2021

Tune in for this week’s metals market update with Nick and Brett! We are officially into May and everything is looking green except for Nickel. Stay tuned for more updates.

Transcription

all right we are officially in may it is metal monday yes sir the first metal monday of may the triple m and things are just holding on like they are going crazy from last week yep i mean we’re still north uh 450 copper yep i mean let’s look like where’s it’s like 452 or 451 this yeah 451 right now yeah as we speak um everything is green platinum palladium rhodium at least on this kitko app sideways you know it’s up a little bit rodeo yeah yeah so i mean things are just holding on man i don’t know if we found the new top for copper if it’s gonna still break through the five dollars bud five dollars by july it’s third quarter third quarter yeah okay okay i’m guess that’s my guess so yeah it’s nice to see it that way i um i do get scared when it goes that high that quick yeah i’ve seen it take that dip too you know set the escalator up and the elevator down yeah step step step step boom so i don’t know i don’t really see that coming for copper right now there had

to be a pretty big geopolitical you know some sort of event to really take the gas out of copper um it’s i mean it’s not the only commodity that’s hot i mean everybody you hear a lot a conversation about lumber right now same thing it’s a it’s a commodity used in manufacturing it’s used for homes it’s used for commercial and it’s used for it’s there’s some speculation going on i’m sure just because of the whole green energy push that’s coming our way with electric vehicles and the grid and this and that but really the push is going to come from the export market in my opinion right now the domestic market is strong but i think the reality of it is is the export market when it really turns on when india you know gets out of the uh the crap that they’re in right now with the whole covid pandemic and then you’ve got you know china is finally opening all the way back up that you know they’re going to have a it’s going to be a slow-ish week and then once they come on and once they get the containers

figured back out once that that’s a big part of it that’s going to take some time yeah but like really people got to get used to four dollar copper i mean when it climbs as fast as it has there’s still a there’s still a kind of a getting used to it period you know cash flow-wise um you know i talked to brokers a lot and there’s a lot of guys out there that are talking you know like you know just what it costs to stuff right now and then how much money you got sitting on the water at four dollar copper and you know and they’re just like man it’s it becomes kind of a cash a cash flow you know dance yeah absolutely and same with like catalytic converters absolutely it’s just right there i mean the only thing that’s that’s really not doing real well is a nickel like yeah it had his day in the sun like dude couple months ago but you saw it it was getting close it climbed almost back to eight bucks yeah um i mean down a little today yeah and willing to overreact on

it but it’s down like 13 cents today you know that’s just the one that’s like just not doing real hot i mean the main reason i did really hot back then is because of the speculation on electric cars again battery stuff yeah and elon musk tweeted it yeah which that just kind of shows you the power of twitter in someone’s hand yeah and that’s not to me it’s not even the power of twitter as much as the power of the guy right yeah like it’s your brand it’s him what he believes what he speculates on people kind of tend to follow him if he could have put that on linkedin or put it on instagram or whatever else i think it still would have made a pretty big a pretty big impact ferris pricing we haven’t knocked down any uh ferris pricing yet this month but we’re probably looking at a pretty good up month um i don’t think it really started that way you know a week two weeks ago but it feels like after last week’s strong week um even beginning of last week we thought maybe up five right yeah but

are you it’s starting to i think it’s pushing it’s going to push significantly harder than that and i don’t know up 20 whatever i don’t i don’t know i hate to speculate on that too far but i think 20s are pretty easy should be a pretty easy number to get this month if you’ve got material got it well good i guess uh in a week we’ll know and we’ll let everybody know all right sir thanks have a great week everybody