foreign we are here with a very special Metal Monday I am sitting where am I sitting at Jake where am I at here in Benton Harbor Michigan in Bend Middle recycling on the way here I did see a naked man get arrested so that was exciting it’s not one of our employees okay so that was an exciting thing we saw on the freeway a naked hippie getting arrested well I’m glad to provide Your Entertainment that’s what you do here it was interesting but uh so Brett how’s it how are you doing in Idaho I’m good man just uh on the road doing what we do checking out stuff seeing what uh what the World’s Gonna Give us today well it gave us some you know we always talk about how Bloody metal Mondays are for us and it’s it’s true again there’s a lot of a lot of red in the market what what’s copper doing Jake all it took a nose dive it’s about down by 2.5 today really poor economic data coming out of China bad retail numbers um the property Market’s still struggling uh you know really high unemployment rates

in terms of their youth population between 16 and 25 and uh the markets didn’t like it gotcha so I was talking to Brett last week on Thursday when things were green and everything was ripping yeah and I know Brett had mentioned that he got a cell of copper off and you had mentioned Brett oh I probably sold it too early in hindsight it looks like he sold it just right yeah I priced what and one on Thursday also so I feel like even a blind squirrel finds a nut on occasion you know I feel that sentiment man yeah I felt smart on Thursday as well we had some loads off and uh we priced them Wednesday and Thursday and I felt smart for about uh 36 hours until you go back up on Monday pretty much and when it was Friday so how hard is it to not try to gamble it Brett and Jake how hard is it to try to like ride that wave to the top you know have you been bit by that before yeah absolutely you know I I think I think if you’ve been in the business long

enough you’ve been bit at one time or another you know and the older you get the longer you do it I think there’s people that still enjoy that risk component you know and some more than others and depends on the volume you’re buying and all that jazz but I mean for us it’s you know we have we got people that needed paychecks on you know yeah we got we got bills that need paid we got light bills that need to be that need to stay on so it gets the last and last important to try and ride the wave too far and when you got a lot of uh um bills coming your way at the beginning of the month you know yeah I think for us it’s just you know systems right and um once we get to a certain point within our inventory when we’re aggregating our material we lock in a position we just feel comfortable and I think it’s just having systems and repeatable processes um I’m not so much a gambler uh but you know I do we are aware and I think as an operator like there’s nothing

out there right now that’s really insight and exciting in terms of the macro economics of the world like no one’s doing phenomenal right now so when you have a good price I think it’s best to take it and I also liked it too on Thursday was that they were keeping the spreads were still the same they didn’t wind them out okay so they were still going off I think July and so they were pretty attractive spreads and they just they didn’t the mill didn’t didn’t catch up to to the market advancement so I was like this is pretty good deal well it sounds like you both hit it just right um yeah you know yeah would like you to always say Brett you know nice thing about the scrap the scrap Commodities trading like you always get another chance to make a good a good sell and a good buy yeah you know so we’re always adjusting our Buy price we try to adjust as with the markets to the much of as quickly as possible um Ferris is obviously more on a monthly type structure we saw Ferris go sideways yeah on the

west you know over in our area what about you what did you see this month yeah um some of the consumers went sideways in Prime and cuts shred went down they kind of eating that out um over here in the Chicago Market they’re working on the locks and dams the river systems are there’s a there’s a disruption so a lot of scrap that would flow out of Market is staying local and so there’s an oversupply right now because you can’t get it out on it exactly exactly yeah so they’re taking advantage of it and they’re and they’re trying to push the number down uh me personally I sold what I needed to I didn’t sell much more than that um I wasn’t as aggressive on the cut so I’m just more focused on getting my material prepared when do they plan to fix the the river system you have a data yeah it’s going to be like September oh okay so it’s going to be a little bad and Lennox also in turn affected the um nickel Farrell alloy prices here too so the blenders that are in Chicago uh chronomet and elg yeah

a lot of their material moves by barge and so uh there’s a huge spread between the export price for 304 let’s say and and what Ellen delivered to to blender so um you know for for the first time I think a long time we’re starting to evaluate um our sales in terms of domestic consumers you know comparative to export and and right now the numbers make sense to go export it’s only enough spread gotcha well Brett anything else to report on any other Road and I’ll stop my head you guys enjoy your uh your trip and looking forward to a exciting week in Commodities I don’t I don’t think this crazy train rides over I feel like it’s just getting started so here we go all right well we’ll see everybody uh next Monday make sure to follow us like us share it with the scrap Community or your grandma whoever you want to share it with we appreciate it thanks Brad all right yeah you guys have a great trip thanks everybody