Metal Monday Episode #38 with Nick and Brett, September 18th, 2023

On this Metal Monday, Nick and Brett are back in Boise and ready to talk about Scrap Expo, the metals markets, and the outlook for fall. If you'd like to guest star on Metal Monday or be on A Scrap Life, text us at: (208) 487-4311. Produced by Recycled Media.

Transcription

foreign we’re back in Idaho this guy with another strong clap to get this party started we’re working on new Sky I know uh your clapping abilities came a long way but we are uh we’re making Headway work in progress well it’s in some behind the scenes photos of that next week so we had a week-long trip it was awesome it was busy we did the scrap Expo it was amazing a great second year shout out to that team putting that on I think they’re just killing it over there they doubled their attendance yeah I think they you know they do they they attracted the people that are like kind of in our sphere of the world the uh you know small medium-sized operators that are kind of in their business trying to figure out what that next level of you know growth and whether it’s a piece of equipment or a software or the right Insurance the right Leasing Company whatever it is like I mean there’s that that show kind of is really targeted um the people that show up are very intentional like there’s a real strong intent to get

something out of the show sometimes when you go to the National shows um they’re kind of more vacation-ish like you there’s you know there is some intent but it’s more like Hey we’re going on a trip gonna hang out like meet some meet some people talk have some good times but that show seems like the people that are going there it’s a short window of time very intentional people are there to get something they both have their place you know the absolutely show the scrap they’re both but they’re so different which it makes it worthwhile to go to both to that point we’re gonna go to isary 2024 yes and we are looking forward to that show I mean it has a ton of value it’s got people from all over the world that come through there all over the country it’s in Vegas this year it’s hard to go wrong in Vegas so we are really looking forward to isary I’m looking forward to that we I hope we can shoot just a lot of podcasts with maybe existing people that have never done one that we already know maybe new people

we’ll start before that we’ll put a maybe like a form out there where if you’re interested in sitting down with Brett Jennifer anyone like we can make it happen so I’m excited for that so how the Market’s been well towards the end of the week last week they actually were pretty good I mean you know copper bus over 380. again and you know the pgms were kind of hanging in there they kind of bounced back a little bit um you know it’s soft this morning it’s Monday it’s bloody Monday you know I don’t know why why it would change you know I don’t know 30 something weeks into the into the year so well that’s kind of to be expected last one it was green Monday but we were traveling all the time I know so the one time we could have like got on there and said yeah today’s the day locked and loaded get you know smoke them if you got them another bloody Monday so did they put sanctions on copper out of Russia is that what whatever I think that yeah I read that and I think that helped kind

of push a little but we’re not seeing a lot of movement regardless yeah we’re gonna take time maybe well maybe it just puts a floor underneath it a little bit okay um you know if it’s China’s economy the housing Market’s still struggling but it’s starting to kind of you know some of the stimulus that stimulus package it takes a while to kick in you don’t just say okay we’re gonna dump XYZ amount on the market and then just turn then all of a sudden the next day it just goes crazy well it takes time I mean it takes time for that money to work through the system and I think that’s kind of what you know people were talking about all this money that us printed in 2020 to kind of work through covid well it really took until like 21 for for that real that money to start hitting right I mean and then that’s when we got really big inflation 22 and I think it wasn’t it wasn’t because of the money necessarily printed in 22 as much it was the money that’s put in 20. yeah in early 21 that really

kind of caught the wave so I think it could be the same thing with China it may take a year for if they actually do start putting some stimulus to that economy it might take a little while before it actually we start feeling it on a on a global you think that’ll help the markets when when it hits it I mean they’re the gorilla man I mean they’re the Commodities gorilla I mean the amount of consumption that goes through there and we’ve been waiting on China to be a big player again for that and we’ve been waiting for the dollar to catch a you know I mean yeah to get some relief in the dollar because the dollars like I just saw that it’s on a six-month Terror right I mean I mean so that’s not helping the cause on the base Metals Commodities front but if you get some relief in that depending on what’s going on you know with turkey and these other sanctions um I think it plays a it plays a role you know it always a role in the price price especially of Steel you’re starting to see

some maybe some softness because people worry about that UAW strike you know the Auto Workers yeah I think they decide to strike three three different plants so okay yeah I think not all of them yeah it was but three one three plants from one each of the big three right so I think in order to I mean you could debate why that that’s that way but I think the main thing is to drive a point home to all three and then to extend the the budget if you will of you know how long can you actually strike you know that’s obviously being sponsored by the the union union and yeah they have to you know have funds available to to do that as well well we’ll wait and see I’d like to see what the pgms do I mean that’s a real quick other question about Russia do you think they ever put any sanctions on the pgms around Russia I don’t know I think if they do then that sets that market up for you know some some good returns um maybe you see rhodium get back to ten maybe a thousand yeah

I think I think there’s a chance I mean you’re talking about rhodium like around five-year lows yeah so I mean not the ideal time to sell no rhodium units I guess or I mean Palladium for that matter as well it’s pretty pretty soft you know but that those markets are fairly liquid you know liquid other than rhodium that’s kind of what where why it’s at where it’s at but you know there’s for every seller there’s a buyer and for every buyer there’s a seller so you know yes sir all right everybody thank you have a great week yes sir we’ll see you guys a week from today yep take care foreign