Metal Monday Episode #28 With Nick and Brett, July 12, 2021

Tune into this weeks metals market update with Nick and Brett!

Transcription

all right welcome everybody i’m here with brett via zoom again how you doing today i’m good bud i’m doing well man doing pretty good for monday and uh we finally got our iron pricing in for everyone we gotta know what happened yeah it’s up in 10 to uh 20 something bucks depending on grade um what you’re shipping um i’m feeling like you know that’s that’s positive maybe not as positive as we maybe anticipated earlier in the in the in you know the middle of june but i still think it’s probably setting up good for august yeah i hear some people maybe kind of saying that you know august could take some wind out of the market but i don’t know i still just still supply demand it probably really depends on what people can get cut and shipped this month yeah yeah absolutely i mean it feels like the supply is still out there feels like everyone’s can’t get the material they want right now so exactly this that being said man you would think the price would still keep going up you know and i i don’t yeah i mean they’re not they’re

not lower they’re not lowering the steel mill prices so that’s that’s definitely a good thing for um for us so i’m not i’m not complaining on that front so i mean i just wish that dave the steel mills would give us a little bit more love as as for our piece of the supply chain but it is what it is that pendulum always swings you know hard one way and hard to get there so yeah yeah you gotta do what we do in our non-ferrous markets we’re seeing i mean you know copper still flowing around that 420 to 430 range you know depending on what day you look at it um yep aluminum was off a little bit today aluminum was you know soft and soft but i don’t know you know i mean the precious metals were looking strong today by my palladium rhodium all seeing good games so yeah you know to be honest like that mark that fluctuation in that market probably does serves us better you know on a um you know on a daily swing than you know the price of copper or aluminum yeah when you see

thousand dollar swings on rhodium i mean that can that can cut both ways though that thing can change a lot oh yeah i mean i’ve been on the wrong side of it there for the last month or two so but like what’s our motto like if we feel strong about the markets we buy man and we haven’t stopped and much distributing sometimes with the accountants or whatever but we just stay after it we we buy aggressive and we feel like there’s opportunity and you know we stay behind so for multiple reasons that’s what we do for a living so on a soft market you got to get comfortable with it um we hedge your edge when you can and you know where it makes sense and where it doesn’t we don’t so and we tried to get here we got it we can hold the price and we have a little bit of a gum gamble on it you know how to forget it you know okay well next week we’ll be in person again i think and then i hope yeah that’s the the goal i’m actually over here at sea world with

my family in uh um san antonio and i’m about to watch the whales so what do what uh amusement parks did you guys do let everyone know what’s that which is it just sea world if you do another one too sea world yeah we did six flags the other day so if you did the kids are really enjoying it but i think the kids are pretty bad but the big day for my wife and i this is our 13th anniversary so yeah congratulations yeah you know it’s part of the deal she’s the she’s the one that allows me to do what i do for a living with the word crazy hours and and uh do these phone calls in the middle of uh in the middle of our family vacation to talk about scrap she’s like oh do what you got to do i’m like i know business i i got a lot i got a lot of love a lot of appreciation for her well good congratulations to both of you and uh we’ll see ya here in person next week okay all right buddy appreciate it take care hold down the floor

i’ll be back