foreign person Metal Monday I was gone last week so thank you everybody for dealing with our Zoom Metal Monday but we’re back Brett was traveling but he made it back for Metal Monday and we got our June prices June June is off right yeah I know anywhere from 30 to 50 depending on the grades more than more than we expect bigger cuts um in the like the Midwest south Midwest I mean they’re talking like down 60 yeah you know big big moves um this month and not in a positive way but you know I think it’s like anything if if they cut too deep then it’s it’ll disrupt the flow and then it’s gonna you know that’s a big dip man I I would think that’s going to affect some flows I think some people are gonna sit I mean I don’t know man I’m I’m curious to see liquidity and what people decide to do in this market um I feel like I’ve seen this movie before and I feel like we are looking at another 2014 15 scenario so are you seeing more and more dips yeah I don’t see a man

unless something changes to create some positive what could change I don’t know maybe the end of the Ukraine Russia deal okay maybe China turning the corner on their economy something major something Major’s got to happen because the U.S economy you know you’re starting to feel like you know it’s starting to get tapped right like it’s the liquidity’s drying up you know the from the banking standpoint they’re less like motivated to loan and there’s less you know developers less people or you know businesses looking to take out loans because they’re wondering where this economy goes everybody’s starting to get afraid to you know extend themselves too far which just kind of creates like a suction and it slows everything slows everything down until there’s like some sort of uh Comfort out there and you know them solving the whole debt ceiling thing which I say solving Loosely but them very extending it you know for a couple years is a is a step in the right direction but the reality of it is like I was reading an article this morning and they were talking about you know by them solving the the debt

ceiling now the you know the treasury they’re gonna have to basically you know come up with what is like a 500 500 billion to re re basically um stuff the coffers which then that’s liquidity that they’re gonna have to sell into the market which is going to suck liquidity out of the market right and so you know between Banking and Commercial Real Estate and you know maybe less liquid you know markets I think it’s going to be an interesting go um are these interest rates going to continue to go up have you read anything about that you said they were going to have like another fed meeting this week I was I think is it Wednesday don’t quote me but I think they were talking about another fed meeting this week to just to where they’re gonna you know talk about that you know what does you know July look like um June July look like and kind of project and I don’t know I I think it’s going to be as much about you know if I don’t see the rates getting pushed up a lot higher but that doesn’t mean that the

economy isn’t going to slow down I think that means that even if they flatten them out there’s enough liquidity kind of coming out of the market and people kind of starting to play defense instead of offense and that’s what that’s what happens in these types of markets and that’s when you see demand dry up on the new steel side which then creates ill liquid scrap markets yes because once that happens then things could get a little nasty because you know I you know I talked to just our local customers here in Idaho and it was a rough first half of the year for a lot of them a lot of things were but everyone was on their Hills which is I don’t know if it’s Unique to our area or not everyone I’m talking to now though is just batshit busy like they’re just they’re just crazy busy again so I don’t know if that’s just in our area I don’t know if it’s because it was such a slow first half of the year if some things are some stuff just had to happen you know um it’s just hard to tell you

know I feel like there’s pockets of growth out there right there’s areas you know like I was just in Salt Lake this last week for my youngest boys basketball on the tournament and that area is still I mean just booming man there’s a lot going on there right and our area is similar a lot of construction nearly as the amount of people but you know say a Salt Lake but it’s still I mean our area is is still growing and you know there’s certain areas that you know that are maybe not on nearly the growth um trajectory that say in Idaho or Utah or uh Nevada or a Texas or a Florida right so you’re going to have some insulation but that is but regardless of whether your area is growing your you know your your City Town whatever if if you’re in the recycling scrap Commodities business and that market becomes illiquid or it becomes you know really compressed on margins or pricing then even if your area is growing that doesn’t mean that you’re not gonna you know have to you know figure out some things on the scrap side or the

recycle you know the commodity side so it’s just a matter of of knowing and being aware of what’s what’s going on obviously staying optimistic and you know what opportunities are out there and then just trying to navigate it and be smart about how you how you go about it like not overpaying for material you know on an exponential basis not uh you know over committing or whatever the case may be with all that being said copper still at 375. yep you know nickels nickels getting beat up probably the most yeah I still I mean I still saw like I mean you’re still you know around 950 61 62 cents for 304 and that’s usually what I gave yeah like people say oh the price of nickel is this but because we don’t deal with high temps we don’t deal with like high grades it’s not a lot of that I’m always like what’s the 304 price yeah and that’ll kind of give me a game still in the 60s yeah so it’s not awful you know so you you wonder if they you know there’s still some demand currently like you hinted at you

know once the demand for the new side dries up that’s when things could get real ugly we’ll see if that happens or not and and the counter argument to that is that you have all these new steel mill this new eaf steel making capacity coming online the next year or two right yeah which you know EFS I mean they’re they’re they’re scrap fairest consumers right so it’s they need they need scraps they need materials like they need they need the material that we’re providing so there is that balance and I do genuinely think that if the export Market does find some footing whether that’s turkey next year whether that’s China Asia I mean India is going to be probably the next in my like just reading you know looking at it it feels like India is the next up and coming you know Market um so if there does if there is some demand created that’s going to Spur along and keep the the base Metals you know you know moving in their in the right trajectory so all right you want to make any bets this month dude every time I make a

bet I should make a bet that it’s gonna go down that way I could lose but make I know it goes against your optimism no I refuse to do it okay stay optimistic give you a donate you my hundred dollars okay and uh keep this train moving all right well we’ll watch everything we’ll see it um feel free to let us know what you’re seeing in your area in the comments and reach out to us absolutely have a great day everyone thank you everybody