Brett: Let’s kick things off with a good clap. [claps] That’s a Monday clap right there.
Nick: Yeah, I was going to come see you on Friday, but you were sounding sick. I didn’t want to catch what you had.
Brett: I’m getting better now. It’s Monday, the markets are green, and I’ll take it. Green is good!
Nick: Copper’s at 4.25 right now.
Brett: Yeah, it’s even a bit higher, around 4.26 or 4.27 last I saw. It’s pushing in the right direction.
Nick: Markets just keep climbing that wall of worry, right?
Brett: Exactly. I saw copper hit 4.21 last week, so I sold some off. But then I watched it climb another five to eight cents, and I was like, “Well, should I have waited?” But if you can get a good price on anything—be it ferrous scrap, copper, or aluminum—it’s worth taking the sale and moving on.
Nick: Agreed. I talk to people across the country about scrap, and the flow is significantly down. Our volumes are still slower than before, but I think that’s more due to the uncertainty in the manufacturing sector. It’s an election year, and the economy has slowed down a bit. However, after the election, who knows? We might see the economy pumped with more money again.
Brett: Yeah, it’s possible. But for now, if you get a good sale, take it and keep scrap moving. Homes for material are getting harder to find, especially on the ferrous side. I’ve heard of people struggling to place their material.
Nick: Exactly. It’s one of our biggest fears—not being able to move the material. You better have some options. I think shreddable material is still fine because there’s enough shredder capacity in the country, and more are being added regularly. But mill-ready material is a different story. I’ve also heard people having a tough time finding homes for copper chops or certain grades of aluminum.
Brett: The demand for certain materials is down, particularly on the manufacturing side. People don’t want to sit on inventory they can’t move.
Nick: Yeah, we’re nearing the end of the year, and while 2025 looks like it could be better, we’ve maintained steady prices this year. It could’ve been worse, but we’re holding on. Some people are predicting a “meh” year for 2025, with maybe 2026 looking brighter.
Brett: It’s going to be an interesting finish to the year, especially with the election. We’ll see how things shake out in 2025, but it should bring some opportunities.
Nick: So, ferris scrap didn’t fall as much as you anticipated this year?
Brett: No, it didn’t. There’s still decent demand for certain grades. If you’ve been consistent with your supply, prices have held steady. But as the year ends, some mills might take outages for maintenance, which could affect pricing. Some grades are still in high demand, but others—like HMS or shredded scrap—are becoming trickier to move because they’re more common.
Nick: Yeah, everyone can produce those.
Brett: Exactly. We’ll keep watching the market and pushing forward. Keep fighting the fight, and have a great week. If you have any questions, don’t hesitate to reach out to us. We’re always here to help.