Metal Monday Episode #24 with Nick and Brett, June 14, 2021

The base metals have seemed to stabilize we will see if July brings better ferrous pricing.

Transcription

all right welcome everybody we here on metal monday a little bit later than our normal morning session so i mean things i mean things are pretty sideways today you know things leveled out i mean i think gold took a pretty big hit earlier but yeah but we don’t really do much we don’t do much gold but i mean everything else seemed to copper mainly like kind of had a rough week but kind of leveled out found its new home maybe at 450 455. yeah i think we’re hanging around that range that 450 i think depends on what happens like at that fed meeting on wednesday that’s going to determine you know whether people feel like it’s risk on risk off inflation on inflation you know i mean it’s it’s crazy that people you know that you think about that type of stuff you know the fed minutes meeting and you know yeah what are they you know when is that looking it’s on wednesday that’ll be a market driver pusher puller one way or the other um but we’ll see we’ll see we’ll see where it goes i i feel like the commodities you

know i’m already hearing people talk up the iron even in july because you know people are starting to notice the scrap flow they were anticipating maybe a little bit more scrap flow coming into june but the 20 bump didn’t do it i mean west coast 20 yeah i mean if you go if you go you know harder further i mean you know i mean it’s just not the flow isn’t like it was and i i’ve been preaching this and i’ve been telling people if you want to bring out the tons man you better bring up the prizes even here and it’s been slow here but it’s hot it’s really hard i’m saying it’s not going to get any cooler and it’s like three months but last last week we had some pretty decent weather like where it wasn’t too hot we were just busy every day last week it felt like the old the old days like when we were just swamped yeah retail in a retail commercial mixed you know but weird swamp we threw a new guy into the mix on the scale house on friday and he killed it you know

yeah and then it’s but it’s nice to see i love when it’s that busy man as much as like some new guys in the skull house might want to pull their hair out because they’re not so used to that flow yeah but your day goes by so quick and then you got more material in the yard and your customers are happier because the prices are doing good it’s just a win-win situation so we’ll see if that we’ll see how the summer goes with that kind of flow but all in all those pretty positive on the commodities front you know the pgms are kind of soft on the you know platinum palladium rhodium but i mean rhodium is starting to make a comeback sodium was up to a thousand early yeah it’s you know i think it’s in the middle of 21.5 is somewhere in there so you know platinum 27 some change you know are sorry palladium 2017 and the dollars the dollar right now is a little stronger right yeah so that’s kind of pushing things but in general i mean nickels up i mean i’m starting to get you know

more calls on stainless so price nickel is coming up it was 8 15. um you’ve got the aluminum market is still strong right now i mean you’re seeing that on oh all in all leads looks good mm-hmm things are good things are good in kamadi’s world um now here comes the heat you know yeah that’s nothing chokes flow like heat and cold oh yeah it’s gonna be slow this week so we’re gonna be close to high 90s all week so all right all right man thanks take care have a great week