Metal Monday Episode #27 with Nick and Brett, July 1st, 2024

It's another Metal Monday and the markets are somewhat green as they recover from rough red week last week. Produced by Recycled Media.


back for another Metal Monday what’s going on Brett you know it started out kind of green and it’s kind of still hanging in there so that’s always is a uh that’s always a bonus I’m not uh not but last week was a a is all I was you know last week it just got crushed crushed crushed crushed only good day I think was I think Friday we got some relief yeah so Friday Monday wasn’t bad it was Monday was sideways Yeah Tuesday just Tuesday Wednesday Thursday I know because I bought a whole bunch of copper on Monday and I just watched it go I just watch that’s when all the Hedge guys were like why don’t you hedge you should hedge you should hedge you’re like oh man but I also bought a lot of copper Friday yeah so so it kind of you know it’s a game that’s a game we play Man I mean it’s a game of averages I I used to spend a lot of time reading articles speculating and then I figured I might as well flip a coin and just talk about what’s going on today yeah you

know we do speculate a little bit it’s more of when we want to bet you know more than anything just for fun and part of the speculation is you know we tell people on the on the scrap end is you know if you’re not going to hedge then you need to be a good processor right because then it speeds up the time you can get your material to Market because you know you you sell material and usually it’s good for a 30 days right to deliver well that means within 30 days whenever you sell it you’ve either got to be processing have it processed or if you’re like on the buy side be able to buy it and process and ship it and deliver it so within 30 yeah that is kind of your hedge as your cell but make sure you don’t touch it extra times you know make sure you’re not rubbing all the pennies off the profit you know make you know like we buy a lot of insulated copper yeah make sure you know I coordinated with you know Brett Wells our production manager guy that runs our copper Chopper

I said hey bought a lot more like get it to this like let’s move it cuz like I bought a lot and I just like kept seeing like get it to the get it to the chopper yeah so you know we should get it chopped we think we’ll be fine and live on like one thing you taught me because I used to beat myself up sometimes when I’d make a buy and the market would tank or make a bad buy you know nice thing about what we do you always if you wake back up in the next day and come back to work you get another chance to make another deal absolutely yep more deals are coming right as long as you just as long as you’re available mentally to to take them on I think that’s the that’s the biggest thing in this business so I think feris markets you know we’re gonna I’m going to do um Bulls versus Bears today with my buddy Chad Eller Brock and we talk about the ferris Market um not looking super positive out there but uh we’ll see um you know I think everybody at

this point would take a sideways with the market softening up but I don’t know if that’s in the cards for some people depends on the region but we’ll know more here here in the next day or so um you check out the fafo um recycle 360 newsletter and you’ll have all the information or listen to the Bulls versus be podcast and Chad will break down the market for you like a little bit more detail than we are here and then we’ll talk about it next Monday what we’re seeing here in our local market um Fourth of July this week it’s good to be American right up there I mean that Fourth of July and Thanksgiving my two favorite holiday yeah so this is always a it’s always a good time um short week you know cuz it’s in the middle of the week and it just kind of makes everything a little bit messy but uh yeah I think on our front like everything’s fairly positive you know wish the metals could see a little bit more love but they’re still a decent math I mean aluminum is still I mean it’s still it’s

still good I was looking through some old POS for some reason I was sitting on the airplane I was just looking at previous po I was selling different grades of aluminum for and it got you know 2022 into 22 23 they got pretty got pretty mush there for a while on the aluminum side so these prices we’re selling out today are still decent yeah yeah I’m happy with 445 is decent you know um nickel I mean 304 stainless around that 60 Cent range is still pretty decent so it had we had a rough week on you know copper mainly but in the grand scheme of things I’m still pretty happy with everything I’ve seen a whole lot blooder I’ve seen a whole lot Messier I’ve seen a lot bigger dips in a week than last week you know I will be honest like I a my it’s see a little easier to smile wake up in the morning when it goes up 20 cents every day yeah but it also makes it a little harder to buy it does and you’re stretching your money doesn’t go as far it does makes some more expensive

to run your business there’s just a lot of it’s It’s pros and cons yeah so well Fourth of July is coming up everyone have a happy safe everybody have a great weekend a great week stay safe enjoy the enjoy celebrate the country America red white and blue flags everywhere it’s a good time it’s a good time to be alive yep look out for our newsletter coming out this week too all right take care by