Metal Monday Episode #25 with Nick and Brett, June 17th, 2024

It's another Metal Monday and it's time for some new copper predictions! Hear how the guys celebrated Father's Day, how base metals and PGMs are doing and what the ferrous markets are looking like. Produced by Recycled Media.

Transcription

okay it is 2:30 mountain time a little bit later Metal Monday but it kind of worked out copper rebounded a little bit came back up if just did this morning early we were down what you say 7 eight I think it hit eight at one point down eight you know but now we’re down three and a half you know I had I had uh my buddy Richard kissner email me today he goes I think we see four before we see five I said I guess we’ll see you know I mean that’s probably a logical bet I guess I mean but then again we’ll see I mean we were wasn’t that long ago it was 519 it wasn’t that long ago people thought it was going to stay about five for a long time you know what I mean and it didn’t last that long yeah I don’t maybe what were like a week a week at five it was a pretty shortlived uh a shortlived deal but you know it’s like we said mid fours whatever that number is 442 447 440 yeah we’re like 445 right now it’s a it’s still

a good number for for copper it’s a great number you know and five gets kind of when it gets 5 515 519 like a gut yeah it gets kind of wild like it gets a little it does gets kind of crazy and I think it’s I think the builders don’t really want to see that you know the elri yeah I mean it it’s like a like a it’s nice when you can sell your your little bit of scrap wire yeah off of a job but at the end of the day like their money’s made on buying the pools install installation yeah and if you project a job out and let’s say you bid it and it’s 3 months out or a month out or whatever unless you bought the wire as soon as you got the bid to cover it yeah then you go back to the market to buy the wire let’s say it’s a six-month job and you don’t want to be sitting on that that out that long I mean that changes the scope of the project in a big way right whether it’s a plumber or electrician or anybody

it’s you know using copper so you definitely got to you know be aware of that well so what do you think it what’s Your Gut say though you think you get to four and a quarter uh I don’t know I don’t you think we’re in a new the new trading area I think we kind of are in the new trading area yeah I mean I I feel like it goes lower before it goes higher you know um at least in the short term but unless the FED comes out and says you know we’re going to we’re going to cut rates and we’re going to be aggressive about cutting rates or something like that which I don’t necessarily anticipate anytime soon cuz I feel like they’ve been very like transparent about when they plan to cut rates like here’s when and here’s how much and you know unless something comes along that that creates some sort of issue that Sparks it you know I I don’t know that it it pushes you know a lot higher than it is today anytime soon but then again we were talking about this earlier like I’m the guy

that sold all the way up and from one time you look like a damn idiot then you know two weeks later you look like you’re pretty smart you pulled the trigger at the 470 range right yeah mid 470s on you saw it run to 5 19 yeah and you’re like well geez you know and you you you’re like God damn that maybe I’m early but you know you were at that at that time but now you look smart you know yeah but it just is what it is I think you know you’ve got you know nickolls trading below eight so yeah Nicholl down aluminum’s down aluminum’s down I mean all your all your base Metals plaum is just getting murdered um yeah I mean relatively speaking to platinum I mean I don’t know that I’ve seen that big of a you know a range difference in Platinum and padium in a long time so no I mean Palladium traditionally was considerably more than Platinum almost double A lot of the time so you know to see that total flip-flop is kind of wild rodium still not doing well yeah not doing anything really

I mean like it’s up 25 down 75 up 75 you know it’s like it’s a narrow trading range when it was really high rodium we were seeing swings like this though yeah you know what I mean like yeah you’re not really seeing that you know so it’s pretty flat right now for sure but I don’t know I I genuinely think that you know the rest of this year is probably going to be pretty challenging with it you know getting closer to the election just closer to uh you know people trying to figure out which way this economy is going to go so I think it’s one of those buckle up type scenarios could be an interesting could be some roller coaster and that it goes that includes all the metals right I mean feris material was down this month you know so you’ve got that and which makes sense with all the base Metals you know are getting getting whacked you know where it’s copper aluminum lead zinc I mean that they’re all getting you know hammered pretty good so we’ll see man see what the what that uh the rest of this month

and what the rest of this year and uh gives us yeah yeah we’ll just you know like we do every Monday every day really we just watch the mark and adjust yeah did you have a good Father’s Day it was great and I my I made a I smoked some Tomahawk steaks for oh I’m glad you’re say you’re smoked I oh we probably shouldn’t talk about that on no no trigger that’s it’s the only kind of smoking I do buddy but no you’ll every once in a while smoke a cigarette you’ve seen me that’s when Carl’s tipping in you know but they were like this thick man like 2 Ines thick uhhuh and I just coated them in oil and Montreal steak seasoning and I did potatoes on I love potatoes on the trigger by the way oh smoked potatoes are the best oh dude they were so good and my dad came over we watched a movie together awesome did gifts you know got him some Donald Trump playing cards he’s a big Trump guy my son gave me a Donald Trump mug for uh from for us he’s like I gave is

it the one talking about how good a dad you were yeah I bought that for my best Dad yep best dad ever yeah I bought that same one for my dad the last last Father’s Day like oh you know me too well but it was good how about you how was your father’s day it was good man like I said we didn’t really do a whole lot we just kind of just did our Sunday routine like that I like to do which is you go work out with my wife and hang out and the kids and I walked over to my parents house because it’s about a 20 30 minute walk walked over there hung out with my dad for a while and then came back home I made some dinner and just got ready for the week man just keep it basic I like it man yeah well Happy Father’s daybody y I hope everybody had a great Father’s Day and look for us next Monday we’ll tell you if copper went to 425 or 475 yeah let’s let’s cross our fingers for 475 let’s go all right thanks guys take care