Metal Monday Episode #14 with Nick and Brett, April 1st, 2024

It's another typical bloody Monday and Nick and Brett are back to talk the metals markets! Copper is up, PGMs are soft and it's April Fool's Day! If you'd like to guest star on Metal Monday or be on A Scrap Life or are interested in reserving your spot on the FAFO Tour, text us at: (208) 487-4311. Produced by Recycled Media.

Transcription

all right Metal Monday copper is at $5 April 4th had to get one out of there had to get one in I will say this like my wife got my kids so good this morning MH so we went to bed last night and she goes oh I saw this thing online so my kids like full disclosure they don’t get to eat cereal during the week right the only time you get to eat cereal at our house is Saturday and Sunday it’s a treat cuz it’s a treat cuz it’s garbage like it’s not real breakfast right we grew up eating cereal it’s kind of like people growing up smoking cigarettes like somebody at some point is smart enough to realize cereal is not good for you right long story short our house you get cereal two days a week so my wife this morning got a or last night she froze a a spoon in milk and for both boys like full of milk and put it uh in the freezer and then this morning poured a little bit of cereal on top of it and a little splash of milk so the boys got

up this morning cuz I usually make their breakfast they thought they were going to get cereal cuz it was like for breakfast yeah and they went to like grab the spoon it was just it was just frozen and my wife’s like hey R fool no cereal for you and I was like that’s a gangst your move I love it good for probably ruin their Monday my oldest son is like do they I thought a fools was yesterday and my wife’s like no my dad always tries to get me with some April fools uh tricks so I haven’t seen one yet but I’m waiting for one you know yeah and u i I actually love April Fools and it I’ve got some good ones but that’ll take too long so copper not a five yeah four more like four we’re still four we’re solid 405 this morning we pushing yeah we’re holding the line man on the copper everything else is soft you know the lm’s closed today you know but the comx is obviously open the pgms are soft I mean it’s a typical bloody Monday I mean the you know your everything else

is red yeah copper is the only one that’s kind of lots of red but Copper’s green like why is that is that cuz the LM partially because LM just closed it’s not I think last night uh yesterday China came out with like kind of their quarterly report or whatever and kind of their economy actually is improving Okay so that being said I’m curious what’s going to happen when the LM does open back up you know tomorrow and I I am curious to see what that potential could do potentially could do for your base medals because if when China’s blowing and going like when they’re when that economy is moving then that’s good for base medals right I mean it’s good for for a lot of things but if they truly are you know they’re projecting they are going to get to their 5% you know growth and you know construction season is is is is moving along for them so I think they are somewhat maybe potentially coming out of the covid Slumber you know at least been waiting for that long time so I I think in my opinion you know domestic strength

and maybe some Potential bullishness from China who’s still the largest consumer you know of copper bearing material out there even when they are in a slumber they’re still a pretty big consumer and then if India stays strong you know it’s it’s good for copper I love it good for aluminum aluminum’s up too you and you and Chad filmed a bold versus Bears right before this excited to hear that y just give me the quick synopsis on Ferris then what do you think it’s going to do I think it’s it’s going to be stronger in April I think we get some up numbers actually I think so I don’t think we’re going to light the world on fire but then again you know I mean you know we’ll let kind of the Bulls versus Bears tell the fair story but there you know there’s good momentum in in like bushling scrap there’s good momentum in you know demand um Mill utilization so there’s still some there’s good demand out there for our scrap um and there’s not a plentiful supply of it so that’s usually a good thing so we’ll see how it plays itself

foul but you know we’re not looking at down 20 30 40 like we did maybe we’ll get some of that back or a good chot back I love it I think that’ll be a breath of fresh air for so many people cuz I anticipated like probably another down month maybe this month in the beginning of March well it was was looking that good and then I think you know the you know Turkey scrap the price went up which doesn’t affect us that much but in generally sentiment wise just you know if Turkey pric is up that pulls scrap out of the market and that’s generally good for the you know domestic scrap Market as a whole so while it doesn’t affect us over here in the Northwest really all that much just other on the sentiment side and if the sentiment strong and the demands there then that usually bodess well for a little bit better pricing all right awesome thank you Brett in a few weeks we’re going to be in uh Vegas doing one of these doing one live we we need a guess though so anyone that wants to sit down

on M Monday and do it with us looking forward to uh yeah it’s going be a good time all right everybody have a great week