Metal Monday #25 with Nick and Brett

August 17th, 2020: Join us as we get back to our regular Monday upload schedule! This week Nick and Brett talk about the positives of having a good import/export balance for commodities as well as the recent trend upwards for ferrous, non-ferrous, and precious metals. We're teaming up with the Semper Fi fund to fundraise for veterans. Click here to donate and get a shirt! https://umrecycling.com/a-scrap-life-semper-fi/

Transcription

welcome to another metal monday what’s going on brett how are we doing nick i’m doing good man you know we’re finally doing metal monday on a monday again last time we were i know here on a wednesday so it hasn’t had a whole lot of changes but this morning copper’s running the pgms are running not everything really everything looks hot yeah and it also feels like maybe in september we’re going to get a you know even a better ferris market i mean it doesn’t it doesn’t feel like there’s uh any steam that’s gonna be taken out of it at least at this point so i mean we’re kind of feeling we’re still shipping that’s kind of the nature of the business for us i mean we buy we sell but we have been anticipating a little bit better a september market i think if we get a better september market then there’s going to be some that will break loose and there’s going to be some some scrap moving here in september so we’re looking forward to that that side of it absolutely um i think you see it go up even another 10.

i think you see a lot of flow i think and i think that’s probably not not just our area yeah it feels like there’s more in it than 10. i mean i guess time will tell it’s halfway through the month and a lot of stuff can happen in a week too yeah but it feels like there’s more in it than that um but you know we’ll just have to play it by year i you know the non-ferrous looks pretty strong the gold market silver you know platinum platinum rhodium all your converter your converter metals um look pretty good this morning it’s been kind of a up and down ride but it’s the trend seems to be it’s trending upwards for sure yeah overall everything is much better i mean copper continues to hold you know well close to three you know we’re close to there and we see those swings like we talked about last week we were saying seeing pretty big swings but it’s always settling in that 290 area and the spreads have opened up a little bit back on copper you know your your discounts are a little bit more

than than they were say a few maybe a month ago but as long as the the lme is climbing and then i think you’re gonna does that mean people aren’t buying it as aggressive is that what you mean the spread yeah you know it depends on what you’re you’re selling you know like especially on copper if you’re as the market gets hot then people open up the spreads um depending on you know what the material is and what the consumption is for that material where it’s going i think the chinese were very aggressive you know a month ago i think they still are but i think that that spread started to open up a little bit maybe because more material came into the market so it’s a little bit easier to come by which then will widen out the spreads as well and we’ve talked about this before but one thing that i know that you’re always talking about looking for it’s like you want a strong domestic and you want a strong export market like we want them both to be strong you don’t want just one because then you don’t really see

a real good fair price yeah i mean you get it’s like anything you want two people at the auction you know at least you could have a hundred people at the auction but if only one person wants the item then it doesn’t really matter but if you have two people at the auction that’s all you need two people that really want that item whatever it is whether it’s you’re selling a tractor or you’re selling you know copper i think you gotta have two people that want it and that’s where i’ve always said the domestic market and the international market if you’ve got two people that want it they’re trying to grow or they have the the the ability to support better pricing then you’re gonna then you as the producer are gonna get a better price yep that makes perfect sense well anything else brett that’s it man just looking forward to another week it’s it’s gonna be a beautiful hot day over here in idaho so let’s get this party started all right thanks everybody all right