welcome everybody it is november 30th i’m sitting here with brett for another metal monday for those of you that don’t know today’s a big day over here at united metals it’s nick’s birthday well thanks brett metal monday it’s nick’s birthday life’s pretty good it’s one of my favorite weekends because it’s my birthday and it usually falls on the four-day weekend with uh thanksgiving i hope you had a good thanksgiving i did man not i didn’t get a lot done except for eat a lot of food and drink some wine and some beer and a couple cocktails and just kind of watch some football hung some christmas lights with my wife you know basic like honeydew stuff you know other than eat and enjoy my holiday i like it and well i got a really good birthday gift earlier this morning we had 350 copper it touched it yeah we hit i was i was about i just got done working out and i looked at my phone and i was like aha yahtzee we finally it’s it’s came off a little bit but man it was it was good to see at least
briefly uh touch 350. we’re in the 340 still like three mid 345 346 somewhere in there yeah somewhere you know i think march come actually 344 or 343 somewhere out this morning no um aluminum was up you know nickel was was up you know nothing big on those fronts i mean aluminum head was a penny at one point um yeah on the base metal side everything looked pretty pretty pretty good um the precious metal side the pgms platinum was was up early and it kind of came off and looks like it’s about sideways now and palladium is it’s off you know i think 30 40 bucks but it had touched it it had touched it you know a pretty good it was like 2 40 something like that 24.50 you know at the um at the end of last week so i think friday so yeah all in all i mean scrap wise medals wise things are going into december on a positive note you think that’ll uh help the ferris numbers come to something i think it has no choice i think that there isn’t a lot of scrap volume out there
um the steel mills i think might have under guessed the potential to buy scrap last month and not maybe not paid up enough and i think that this month if you want to buy scrap you’re gonna have to pay the price because i think that it’s people know that this month it should be up and i think you know people know that come january that that number is probably looking similar so it’s probably you know it’s it’s in our it’s in the scrap guys and our customers you know favor right now i think yeah i mean we can pass that price on to the customer and then that also opens up a lot more flow you know people are willing to bail their yards or hauling that pickup load of scrap they’ve been saving for a while because they want a few hundred bucks and rather than 20 bucks yeah you know it just really can have a big effect just the small bumps you know you see a lot better flow um going back to copper when you see copper take just a big run like it’s been doing last few months last
month do you think that’s a sign of good things to come on all the other markets do you think it’s a sign an early sign for the economy itself i’ve read articles will people use copper as a measuring stick for the economy you know i think china india have a big big push on the copper market right now just their their demand their economy is is growing um i posted an article on linkedin last night about their third their third quarter growth and i think that that’s one of the big reasons we’re seeing i mean domestically on the u.s front yeah we’re it’s starting to pick up again i feel like people are starting to come out of the virus deal even though we’re getting more cases and whatnot i mean i think that i don’t see that everybody shutting everything down again i don’t think that’s an option for anybody so i think people are going to be trying to be resilient and fight through it so i think our economy is going to kind of pick up and i think that the export demand for the especially for copper is pretty
high right now so i anticipate the spread is getting squeezed tighter i anticipate um that market i i mean to me at 350 i take i’ll i’ll sell i think that’s a good number i don’t i mean i’m not sitting here and saying it’s coming you’re going to see four bucks and if we do great i’m not gonna complain about it but i feel comfortable in this range where it’s at right now that there’ll be enough you know material drawn out off the sidelines maybe that’s going to satisfy some of that demand and i don’t see like a run to four dollars by january or anything like that but i could be wrong i hope i am i hope i hope it you know it goes to four dollars but i’m i’m happy at 350 copper well we’ll see how the week goes and next monday we’ll maybe 3 20 by friday yep you never know yeah all right thanks guys appreciate it take care