Metal Monday #29 with Nick and Brett

September 14th, 2020: We are half way into Sept. and everything continues to look strong. Hopefully come October ferrous and non ferrous metal markets continue to rise.

Transcription

all right welcome everybody it is another monday and we’re here for to talk about metal what are you doing brett yeah you know man just uh we just went for a walk we’re walking through the yard yeah brett wells just seeing what we had out there what was left to move um i’ve kind of been on the the kick lately if it’s in inventory and it’s ready to go i’m making it go away so i think what i got going on i think one misconception that people have when they go to a scrap yard they assume we have like that we just sit on a lot of material yeah to wait like really like you gave a great analogy of it like comparing it to like a farmer’s crop when it’s ready you gotta move it yeah there’s certain situations where it’s a little different but for the most part like you buy it and you sell it and the only thing the only time i don’t like to move scrap is if i feel like it’s underpriced in a big way right yeah then sell side like when when copper went from

280 to 195 in like a matter of a month and some change yeah in the whole covid deal back in february march we sat on a lot of coffee and we’ve since moved most of that material um obviously we have a lot more material that we still got to process but generally speaking i don’t like to i prefer not to sit on scrap i like to move scrap so so since you’re moving it you must kind of like where people are quoting yeah the pricing is getting better the spreads are widening out but the pricing is you know non-ferrous looks good your precious metals are hanging in there you know it’s you know rhodium’s up you know good jag this morning again pla palladium was up platinum is up um copper’s up aluminum’s up you know the copper aluminum nickel that’s all kind of just been hanging around in a kind of tight range so yeah it’s up today but it took some steam out last week so i don’t it’s not really up like it’s about where it was about where it’s worth for like what two about two weeks it’s been

a little above three you know um and same with nickel same with aluminum it’s all just flowing around there but it’s all like holding strong you know like if it could stay this way the rest of the year i think like our our customers will be happy because yeah we’re giving out better pricing because we pressed it yeah last week the ferris market was good so yeah i mean for the month so i think all in all i mean there’s worse industries to be in there’s no doubt about that um but the recycling the commodities and the base metals are pretty strong all right thanks brett thank you man take care have a great week