Metal Monday Episode #4 with Nick and Brett, January 23rd, 2023

It's another bloody Monday but copper is still hanging on. Tune in to hear how base metals are doing across the markets and see how the guys' football bets played out for them. Make sure to send any questions you'd like the guys to answer to (208) 487-4311

Transcription

foreign we’re back live in person with Brad Brett welcome back to the United States yes yes happy to be back man I I don’t know like I said I love what I do so I’m I come back with a little extra fire you know in my belly it’s good I I myself took my family up to McCall for two days it was awesome everyone had a great experience but I’m also excited and feel rejuvenated to be back here on Monday you know what I mean so I think you gotta just you gotta find that happy balance man um well we’re glad to have you back I hope Kitco Metals has a typo that says nickels off four dollars I don’t think that’s accurate if it is great I sold a bunch of stainless before I left so I’m we’re covered but um the rest of the metals are a little softer this morning um and at the end of the day that’s kind of it’s metal Monday so what do you really expect do you expect everything to be green we used to Red Mondays yeah it’s actually green on Friday we start calling

them like Bloody Mary Mondays so we should just instead of drinking coffee or Lacroix or we’re gonna have Bloody Mary’s because like it’s we’re just kind of ready for it you know bend my Rubber Arm Brett no I mean really though the Market’s been awesome you know in 2023 you know for the most part I mean Ferris did look stronger copper has been north of like 427 or something crazy yeah you got up there yeah I think it did for a day or two um you know and it’s just like I made a little uh little a story on Tick Tock it was a little picture of Snoop Dogg how high are the copper prices for this High Yeah because it just ripped for yeah for a minute but it’s hanging it’s hanging in there it is like it’s always it’s not and it’s doing it’s doing the movement that seems sustainable because if you see it move to five five twenty you know it’s gonna come tumbling down you know so like these smaller moves 20 30 cents like it seem and then it levels and you might see another bump or might

see a little dip it seems like more of a natural move copper seems like the story like it ended in you know in the last week or two of December people were you know calling for copper prices to be you know pretty strong and because of demand and basic excuse me in China coming out of you know the covid lockdown and they obviously are huge consumers of copper um and what are they going to do to stimulate that economy to get going and you know so your people are kind of probably prematurely betting that copper could you know run really hard so that’s what’s what’s driving it um you know what I was I was reading that John gross he puts out the copper the the monthly the weekly copper report and I think he sent you something yeah he said and and in it he and it says you know he was talking to one of the analysts and it says you know why his copper prices you know sustained such a strong run and and the guy was like pretty Frank he just goes more buyers than sellers like that’s what it

is right so does that mean that the the demand or the The increased um demand for copper is there on the physical side I don’t know are people just front running the price like probably in a good price so they’re buying it now yeah or they’re they’re just they’re just betting on the fact that it could be higher in June or May or April or what you know what I mean like it’s so we’ll see you know how long do these prices sustain the ferris side as well you know it’s a tough weather Market out there it’s a tough volume Market out there so the fairest price I see in February I’m going up again I mean our our you know we’re not buying a significant amount more scrap than we did in December the weather is pretty similar I mean I got back to snow it was pretty mild though yeah too but but it’s but it’s also like the pricing is just ho-hum yeah we had two years of decent pricing and the volume just you know is on the commercial even on the commercial side it’s it’s slowed down a

little bit so where’s the volume gonna come from to support you know you know the demand is is there demand and I think that’s the big question moving forward and I I genuinely think that there’s going to be enough demand to support you know better pricing February and potentially even March now the weather gets better more volume starts to come to the table is the demand there to support that volume that’s going to be the question you know and that a lot of factors is manufacturing producing it are there enough jobs infrastructure jobs demo jobs being done for new builds that create it as well you know people have seem a little on their Hill still and it’s been it’s major money yeah to build something so and that’s a factor about it like you’re not gonna have a lot of dump demo companies Nationwide knocking old buildings down all in scrap you know now people get more comfortable and like okay let’s knock that down build a new one you know then there’s all that extra flow so it’s all that’s what’s that’s what I love about the scrap industry it’s so connected

to everything you know it’s all connected like it’s peace and I’m always cautiously optimistic and you know up or down we’re gonna keep doing what we do so always and I think that’s like we’re gonna you know I’m gonna buy every pound of scrap we can buy process every pound we can process and keep everything you know moving but that’s that isn’t you know like the pricing is what it is you just got to be smart sell if you get into a good run I sold a load of copper chops I was sitting there waiting to get on a this is a good story I was sitting there waiting to get on a busting with my wife and my two kids and I was talking to my buddy that I sell copper chops to and my wife was giving me that sideways eye like are you talking about work and I was like uh and because the price of copper is like almost 4 30. and I was like are you in Mexico I was in Mexico yeah and so here I am like it huddled up in the corner I’m like hey man

I’m like I’m gonna price this one they’re selling Scrapper talking to the girl and uh and my and my wife she’s like trying to figure out like you know trying to do use Google Translate to get or us on this bus but she had got she she had bought the tickets from somebody that never paid so we were basically not going to be able to go on the trip and so she’s all frustrated and mad and she’s looking at me to help her negotiate I’m like I’m trying to sell copper right now like I’ll be done here like a couple minutes and that’s one way you gotta go on that vacation so I get it so I’m like hey did you she just kept you know and I love her to death and she’s just patient as all get out but she knows like I’m trying to work and vacation at the same time so yeah it was uh we got we ended up getting on the bus we ended up being able to go do the thing then she negotiated somehow with the nice with the with the lady and I’ve seen your

wife she couldn’t negotiate oh yeah yeah she can be a bulldog when it comes like when it comes down to it like because she’s the one that planned and set it up so I was just letting her do her thing and I was trying to sell copper did you sell again we got on the bus he sold copper it’s a win-win yeah we got to go on the the trip and it was it was good I’ll be real quick Friday I took my family up to McCall I took a half day I’ve been dealing with a new tow bill coming through because I’m part of the tow Association yeah same thing I have my family I get an important call and they’re starving so like I’m gonna hit McDonald’s before we go to McCall and I get that call and she gives me that look and I just park I’m like and I said you guys gotta go in and order yeah but they got their food I got a good conversation in with a tow company owner and it was a win-win you know but I did get that look oh

they’re like everybody gets like what the hell are you doing what is that you always called the sideways out here like the what I’m like don’t shoot so football bets I’m so Friday Friday I sent all my picks this guy this guy hooked us up well I sent him to Skye I said then I called her I said Skye flip all my picks I met him had her flip everything and it did I think I hit half but I didn’t hit my cherry you got your cherry yeah I got the phone I don’t think I can win Dak Prescott is a born loser he’s a winner in life you know he’s a good quarterback but he he ain’t gonna win you the big game I’m sorry it’s like the same reason why Raiders got rid of Derek Carr like great during the regular season he’ll he’ll he’ll he’ll do okay he won’t win you the big game he won’t win you the important game and at the end of the day I don’t care what your stats are during the regular season if you get to the if you can just get to the

playoffs and actually win the games that matter you’re then you’ll be paid well and Doc’s paid well and he still can’t win the big game so I think I’m gonna have to use 200 for charitable D I’m chewing on which one but I think we’ll finish out I still want to see the total score I will finish out football Friday who will we’ll finish that we got it we got two more weeks of picks so maybe we’ll double up the last oh so I can come back we’ll see I like it okay all right man thank you everybody have a great week