all right you know you know that time metal monday how you doing today brett you know man i cannot complain whatsoever i feel like i just blinked my eyes and the weekend went was over yeah i felt like it was friday morning just the other day now it’s monday morning but you know friday we had a good run today we’re having a great run yeah you know so far right so far a little bit in the pgm so copper’s up palladium’s up nickel up a penny yep aluminum up aluminum i mean that thing’s just still just killing it yeah it’s it’s on a bull run of all bull runs right it’s as strong as i’ve seen aluminum in a long long time so that’s great to see um what’s driving this recent uptick do you have any in aluminum on or just on everything i think everybody was getting pretty nervous about china and that evergrande and i think wondering if that was going to be the next lehman type moment that was going to shake the foundation of you know obviously one of your biggest so what was that like a bailout

that the government did yeah basically i think the way i understand it and i’m no economist um but the way i understand is is the chinese kind of came in you know as a government said either fix it or like let’s dial it in but they also basically stepped in and said hey we’re going to be there to backstop this and make sure this doesn’t you know crater the economy um you know the stock market base metals everything is not everything but a lot of it’s based on momentum trade trading right so there’s a certain intrinsic value that metal has whether it’s copper or gold or silver or palladium and then there’s also the anticipated future value of it so you know people will kind of move into certain commodities or move into certain stocks or certain whatever because they feel like there’s some upside to it and i think that’s what you get these big movements these big you know swings and copper these big swings and you know the pgms um big swings and nickel and aluminum you know you know it’s like when the story is the headline reads nickel is

a scarce element and it’s going to be absolutely crucial to the next battery yeah you know powered vehicle yeah all sudden you see nickel just for you know a month straight just you know just sit there and just kind of tack on gains and then if i kind of falls out of favor because something else happens so you know the markets we live in are very heavily traded i mean on people that never touch a pound of material right so we’re kind of living in that moment but we’re on the flip side where we’re actually receiving processing you can walk in our yard and see her aluminum futures right like we’re actually buying aluminum today packaging it and selling it to a smelter and you know getting paid 60 days later or 30 days later or depend on the terms you have right that’s the business that we’re in and so we are kind of at the mercy sometimes of these momentum trades these futures you know markets and the macro you know my my wife asked me why i read so much you know why i pay so much attention to like the

you know what’s going on across the world and anymore it’s because a lot of that affects these markets you know it’s so reactive if one like thing that’s one thing i i think it’s my honest opinion i think it’s too reactive sometimes yeah you know you get one article about something in china and just things just take a you know and then people calm down and realize the world’s not ending and then you see kind of a rebound that’s kind of what i noticed on a lot of those those articles that come out well it’s like if you look at the pgm market we’re just looking at it this weekend so i mean the reason the pgms have gotten beat up you know as of recently it was because the demand softened right well why’d the demand soften well because of the microchips that go in these cars which then he started digging deeper and he said okay so what’s the car sales what do those look like what’s the dealership inventory look like and everything’s just been getting pounded right well it’s a natural like you know chain of events you can understand

why those commodities have kind of fallen out of favor today does that mean that those commodities are going to be out of favor you know a month six months a year from now when all of a sudden there’s a little bit more chip availability all of a sudden these cars are coming off the production line again and yeah yeah in my opinion that market’s going to scream again because they’re still facing a uh supply deficit over you know what’s going to be demanding absolutely coming forward so but if you get caught up in the day-to-day which is where people like pete thomas come in with the hedgers and stuff and say okay protect your margin because you may not be able to buy that ounce today and trade it tomorrow you know hedge your gain or whatever and you know as a as a scrap metal or second facility you have to make that decision do you want a hedge do not but you can’t get caught up in the day-to-day swings as much as um just knowing your margins knowing what you can live with knowing the swings are

coming and then just kind of getting the material through the system yeah just managing it from there um we didn’t know what ferris was going to do exactly last week but so what did that what did that end up doing for everybody some markets were up actually um a few markets were up and then some were uh just sideways so and the ones that were up you know you’re looking at you know 510 bucks so not a whole lot of movement there wasn’t you know it was it was it was sideways for the most part um a little bit up movement but in general yeah it was i mean which isn’t the worst i mean to see it flatten out for a little bit is okay i feel like november and december could be could be good months to sell if you’ve got material to move but you know that deal changes on a dime yeah absolutely all right anything else sad that’s it man another uh another metal monday in the books another one down everyone have a great week and we’ll see everybody in a week all right have a great day