## Podcast Transcript

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**It’s a big metal Monday today!** Happy America day! Happy America day! Inauguration and the national title game.

Yes, which is important to myself as a lifelong Notre Dame fan. It’s been getting my heart broken for 35 years, and I hope I don’t get it broken tonight, but we’ll see. It’s crazy, a day like today, I mean, it’s a national holiday, right? It’s Martin Luther King Day. It’s inauguration day for Trump. It’s the National Championship for college football. It’s like all the things. I mean, my wife’s on holiday vacation today with the kids, so that’s awesome. We’re here doing what we do, and I was kind of watching the swearing-in ceremony earlier on my phone, so that’s pretty cool.

**It’s a good day. It’s a good, good day to be an American.** For all the reasons you said, we’ll see what happens moving forward.

**Do you want to bet money on the game?** I’ll give you the points.

No, no, no, I haven’t been thinking about this. Okay, I don’t want the points. I don’t want any. You want to win straight. You’re going to bet straight up?

Yeah, we’re going to win straight up, but I want double or nothing. You owe me $100.

**No, no, I got it back, remember?** I won it back.

How did you win it back?

Because we bet on the, uh, what game did we bet on? We bet on this game last week. No, we bet before that. I won it back!

I’ll think about it. We’ll search the tapes, and I think we’ll see some green in the national title game as well. Oh, look at you, now you want to bet!

Yeah, I’ll bet that game. Do you want the spread?

Yeah, of course, I’ll take the points.

Not of course. I mean, what is the point?

Nine and a half.

Oh, done deal, okay, alright. $1800.

I’ll do $100, jeez. I still owe you from the 100 from there. It’s a double or nothing.

**Double or nothing.** I’m going double or nothing till I either get ahead or…

You’ll get it. I won it back. If you didn’t win it back, this was what I was going to propose: double or nothing, but if I win, I get 300, no points, two to one odds.

Yeah, but I mean, I don’t owe you any money, or else I would do it. I’ll just bet you straight up. I’ll give you the points.

Alright, I’ll take the points.

**I was going to try.** I’ll do two… two to $100.

[ __ ] using my fandom against me. Alright, 100 bucks. I’ll give you the points. What is it, eight and a half?

I think it was eight and a half. It was nine and a half. It’s… you… I’ll do that. I’ll take eight and a half.

Yeah, that’s a fair, that’s a fair…

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**What’s copper doing today, Nick?**

Well, COMEX is closed. Yeah, LME seems pretty sideways. Yeah, sideways, really. I mean, we had a good copper week last week. We did a good run. I mean, aluminum was… where did we get to? 440-something, mid-440s, 445. It’s kind of fallen a little from there. It fell like 8 to 10 cents, I think.

Yeah, I think it ended up like… but we’re still in the strong 430 range. Yep, um, everything else, I mean, it’s pretty sideways right now. We’ll see what happens tomorrow with the COMEX. Aluminum is putting in a good run. I mean, aluminum is strong right now.

**You know, I thought the PGMs are just kind of hanging around.** Nothing, I mean, I think they bounced off some lows.

I mean, Platinum bounced back up. Platinum is still kind of a dog. It will be interesting to see if any of that changes in the next couple months. I don’t anticipate it changing Platinum. I think it’s going to be a dog all year. Everybody you talk to, that’s kind of what the sentiment is.

On the converter side, I mean, converters are still, they’re still pretty weak, which had… effects relatively from where we were a few years ago. It affects your car buying, obviously, if you’re just buying converters like we do. Like, it affects your converter buying, but like anything, you just adjust with the market and move forward. We’ve seen a lot whole lot worse. We’ve seen a whole lot better, and that’s just the game we play.

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Fair scrap prices have picked up a little steam, so that’s always good. I mean, not a lot, but enough to kind of where you didn’t go down. You feel decent. It feels like we hit the bottom on Ferris. Like, it feels like we are in store for some up months, maybe in February, March, April. It feels like we should have some stronger Ferris markets.

We’ll wait for BS versus Bears to see how Chad and you feel. The East Coast is getting hammered by weather again this week. The South is getting hammered weather this week, so I think that that bodes well for at least the ability to move any sort of volume and I think that’s going to create hopefully a little demand just because logistics are going to get… I mean, we’re finally getting a little bit of winter here, at least temperature-wise. It’s cold out there today. The sun’s shining, but it’s deceiving.

**Looks nice but it is cold.** Chilly, it’s a cold one. I think there’s some winter vortex hitting the nation. A lot of places that don’t get cold are going to get cold.

Yeah, you know, I talked to Justin last week about that. Said that they think it’s going to get cold enough to kill all the iguanas in Florida.

Wow, so we’ll see if that happens or not. Because, you know, that’s where it screws people up. Like, we’re used to the cold, we’re used to snow, we can handle it. But I remember a few years ago, like, Portland got a whole bunch of snow and it froze over, and that shut down the city. It won’t shut us down, but rightfully so. I understand, Florida, they’re not used to it, you know.

Um, like you said, a lot of trading lines are going to be disrupted. A lot of trucking is going to be down. We’ll just see how it goes. I think February, we got a chance, man. I think a little positive sentiment in the market. We’ll see if all sentiment actually turns into reality, turns into sales and orders and all that jazz. But, uh, you know, with copper holding its own, aluminum holding its own, and your other commodities kind of hanging in there, I think Ferris prices have a chance in February.

**I mean, don’t… I’m not saying you’re up 50 bucks, but I think you’re going to be up enough to, you know, I think…**

I think there’s a… there’s a chance to could be a 10 to 20 movement.

**Yeah, I mean, traditionally, springtime, it kind of softens out because the flows open back up, but I’m here to tell you, if any sort of demand picks up on the new steel side, the scrap flow is not there yet, so there is going to be a squeeze at some point. I really believe that.**

Well, I’m excited for February to get here. We’ll see what happens.

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**Alright, hope everybody has a great happy America day!** And, uh, uh, let’s see if I can make some money on Nick and we’ll go from there. Go Irish!

**I will be real quick. I will be cheering for the Irish.** I would like to see them win. I’d welcome to give you the hundred bucks, but I just don’t think it’s going to happen.

Well, we will see what happens. Thanks, everybody. Have a great day. Bye!

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