Metal Monday Episode #42 with Nick and Brett, October 18th, 2021

In this episode, Nick and Brett discuss future predictions for the Metal Market, and past predictions they made that look to be coming true.

Transcription

all right welcome everybody october 18th another metal monday and a week ago where copper on the comex for 4 30 4 25 40 yeah in the 20s yeah and today today’s the first day it’s cooled a little bit yeah it’s down about four cents right now on the comex when were you looking which is what in the heist i didn’t even look this morning high 60s you know still it was it was above 470 at one point uh but everything just took off like a rocket every like nickel the base metals did nickel then was up this morning i saw it was up a lot like almost almost we almost hit that may peak i think he hit 478. i just i hadn’t looked at it yet lately because i pretty much i sold a lot of copper uh last week so it’s like once i’ve sold you know at least i’m sold out for for a couple weeks i just kind of set it and forget it type deal other than i i have that luxury you don’t because you’re in charge of uh yep so i was up abnormally late yesterday

my girls had the day off today like a teacher in service so they we did like halloween the girls made punk uh popcorn balls and we watched scary movies you know so i was up to about midnight which is really late for me yeah um so i checked it even though i i know i should just leave it you know but uh it was up like crazy last night that i woke up this morning and by the time i got here it was kind of cooled off yeah so i felt like last night i was like dude we’re gonna get to five we can get to five this week you know i know we’ve been we haven’t talked about five dollars for a while but i mean i feel like we’ve been talking we you and i have been calling five dollars for a while we’ve called it all year we might we might have looked like there for a little bit when i get to four but i feel like maybe we’re going to get uh we might get some retribution here soon if it really gets to where we think it’s going

to go we’ve called it the guys over zayner have said that they think it’ll get there by january um and we’ll see you know yeah so so that’s a good sign for everybody that’s training these materials um good for our customers our day-to-day customers they’re going to see an increase in their copper with these big moves like this though yeah the spreads will start to widen out you have to expect um expect that expect that to happen ferris market looked pretty strong last week i would anticipate november could be a strong month um i haven’t heard anything yet but obviously we still have 20 22 days left but 23 i guess but or 13 sorry my math is off but i feel like november could be a strong fairest month as well so it’s so far as long as nothing crazy happens that we don’t see coming everything seems to be kind of holding holding the line yeah so hopefully we see up numbers in november and december i know it might be getting greedy of me but i’d love to just close out the year with a couple just great months

you know um weather permitting over here we have a lot of customers to take care of you know that’s a big weather permitting over here because some of that snow just flies and can’t do it you know well the thing is man i think like you know the logistics everybody’s talking about logistics logistics this logistics that moving the material in the art out the yard um that’s what’s going to play a role i think come november as long as the steel mill order books stay strong which it looks like they are it’s going to be a logistics game who can move the material i think it’s nothing’s changed on that front if anything it’s just gotten more challenging in my opinion i mean it’s challenging for us and we feel like that’s probably you know one of our biggest strengths absolutely we can move our own material and not everyone has that luxury so i hate i’d say that we’re lucky i mean it’s been planned but i feel that way sometimes i feel blessed and lucky that we have that component so well we’ll see we’ve got an interesting guest a good guest

a new uh someone with some some big news coming up next monday so we’re kind of planning to have some some fun next monday on our uh metal monday but until then yep we’ll uh stay tuned and we’ll have a special guest next week move your scrap it’s a good the pricing is right and who knows how long that deal is going to last um i don’t think if when the markets are like this it’s ever a bad time to to make it go away so that’s my my word of advice today thanks everybody have a great day