Metal Monday #22 with Nick and Brett

July 27th, 2020: Nick and Brett discuss precious metals, base metals and what the main driver of the recent uptick has been.

Transcription

welcome everybody we’re at a another monday how you doing brett i’m doing good nick how you doing bud i’m doing really good man a good weekend um markets were up this morning yes um i’m wearing our converter reclaimed shirt yeah we could kind of talk about plant and palladium rhodium what are those doing this morning well they’re up um you know gold’s gold’s up 40 bucks yeah um silver is uh you know a buck and a half which obviously those aren’t and those metals aren’t in converters but you know platinum was up you know 20 30 bucks palladium at one point was up a hundred and some change rhodium looked pretty unchanged for now but the precious metals feel like they’ve been on a pretty good run here for the last you know 60 70 days yeah yeah they’ve been kind of on a tear and they just kind of keep pushing forward which yeah nice to see uh what about our base metals you’ve seen a lot of movement you know there’s a lot of movement you know look they started you know copper hit you know almost three bucks again last week

and then kind of dove off towards the end of the week but it’s it’s look it’s held its own this morning um you know aluminum seems to keep getting stronger by the day not big moves like what you’d see in copper or anything else but it’s definitely starting to hold its own the midwest premium is starting to uh grow again which is always a good sign um and uh you know lead nickel stainless you know stainless nickels at 6 15 or something like that 6 12 this morning so even though the 304 price isn’t necessarily it’s not reflected in it in the 304 stainless price it’s still decent um i think your stainless pricing you know you should still be close to the mid 50s you know for 304 which i know we don’t really talk a lot of pricing on here we’re selling it for but you know maybe down the road we start to you know kind of look at some of those options but no i think that the metals the metals are definitely you know looking stronger so that’s a good sign and does that what’s the main driver in

that do you think we haven’t really touched on that last like month i think it’s i mean in my opinion is that i think the economy is slowly coming back but i think people especially on the commodities end are anticipating inflation so okay you know i read an article this morning uh that alcoa put out and they were talking about one of the reasons the big drivers of silver is you know if as we move into these alternate forms of energy whether it’s you know solar or wind or whatever you know whatever these whatever’s invented next you know electric cars and um those are big users of silver and so that’s why i think you know that that silver demand is going to be there as far as the base metals copper is used in anything alternative energy or energy in general i mean like the electric like tesla’s they have a critical amount of copper and a tesla versus you know just a your traditional gas gas fired motor so i mean there’s definitely the base metals are here to stay you know we’re going to see some some blips here and there

but there’s definitely um it’s trending in the right direction well sounds good man well thanks for the insight and we’ll keep everyone else posted next monday hey and real quick we kind of have been doing a thing we we posted it uh last week but we have you know we do a couple podcasts in this room obviously recycled idaho a scrap life but we got you know united medals to sponsor some t-shirts and we’re giving back to a good cause we have a semper fi fund where you can order a shirt we we’re sponsoring the shirts so 100 of proceeds are going to a semper fi fund and we’re just here to support our veterans our military our country and hopefully you know get everybody on the same page where we all like each other again yeah absolutely we got we got that live on our website i will put a link we will put a link there in on the comments here yeah okay great man thanks guys have a great week guys