Metal Monday Podcast

[0:21]
Host: All right, Metal Monday! It feels good to actually be doing this on a Monday. We’ve got some green on the board today, which makes it a good day to check in.

Guest: That’s why we’re doing it—picking the green days. If it’s red, don’t plan on hearing from us for a bit.

Host: Exactly! Copper is having a decent day. It’s up about 5 cents now, and earlier it was up 7 or 8 cents.

Big Week Ahead

[0:49]
Host: It’s a big week. We’ve got the election coming up, some major events happening globally, and some big changes for us here locally. Everything’s moving forward full steam ahead for the better.

Guest: Copper looks good. I’ve always used copper as the indicator, and the other metals usually follow suit. But PGMs (platinum group metals)—that’s a whole different story.

[1:23]
Host: PGMs are definitely their own animal. They’re much more volatile. Palladium got hammered last week, Platinum dropped below $1,000, and Rhodium has been hovering around $4,500 to $4,600.

Guest: Yeah, it hasn’t moved much. Until something economically significant happens, PGMs are going to remain sluggish.

What’s Driving PGM Prices?

[2:00]
Guest: Palladium, for example, is pushed and pulled by macroeconomic forces. About 35-38% of the world’s palladium comes from Russia. So, whenever there’s talk about sanctions, Palladium prices move.

Host: Exactly. When discussions around tariffs and sanctions on Russia started, Palladium prices turned sharply. That was partly because so many people were caught short. Now that pressure has eased, and Palladium is dropping again.

Guest: Platinum under $1,000 is concerning, but I don’t think much changes until after the election. We need to see where things are headed before the market stabilizes.

Copper and Global Demand

[3:12]
Host: Copper is very similar—it’s not necessarily being driven by domestic demand. China remains the big driver.

Guest: Yep, it’s all about what’s coming out of China. The news cycle this month is going to be wild, and it’ll play a big role in determining where things go.

Host: Strap in, because the next couple of weeks could get crazy.

Sneak Peek: Bulls vs. Bears on Ferris Scrap

[3:43]
Host: Give us a quick breakdown of Ferris markets—what’s happening there?

Guest: It’s tricky. Chad will break it down in Bulls vs. Bears, but here’s the gist:

• The export market is tough right now.
• Domestic mills are running okay, but demand is murky.

It’s a very dynamic market, as Chad will explain in detail.

Host: Ferris is such a big part of the volume game in our industry. Even those focused on non-ferrous still usually have some Ferris component in their business.

[4:22]
Guest: Exactly. Whether you’re a stainless processor or a wire chopper, there’s almost always a Ferris connection. What the export market does and what domestic steel mill demand looks like are crucial for everyone.

The Holiday Impact on Scrap Demand

[4:45]
Host: We’re heading into the holiday season, which always disrupts the schedule. December feels like a two-week work month.

Guest: Yeah, November really feels like the last chance for a big push. After that, it gets tricky with mills going into maintenance and shutdowns.

Host: Chad is smarter than both of us when it comes to Ferris. Make sure to check out Bulls vs. Bears—it’s coming out today.

Looking Ahead to Non-Ferrous Markets

[5:22]
Host: Non-ferrous markets remain as volatile as ever. We’ll see what this month brings, but we’re optimistic.

Guest: Definitely. Thanks to everyone for tuning in. Let’s have a great week, and we’ll be back next Monday!

[5:36]
[Music]