okay welcome everybody here with another metal monday with brett how you doing man metal monday before thanksgiving so i can’t complain man it’s my favorite holiday so i’m happy same here it’s my favorite my second favorite it’s fourth of july they both have similarities where it’s just family cooking food yeah and no gifts are exchanged you know it’s my no pressure other than just eat watch football i guess the only pressure i sometimes put in myself is if i bet on the football game yeah yeah yeah absolutely yep yeah so anyway so tell me about the markets brett how’s everything looking you know i saw the pgms were rough this morning at least palladium was getting smacked it got smacked on friday and yeah last week so but other than that i mean copper you know kind of bounced back kind of fell into the low 420s and then right back up you know um into the low 440s again so i that was good to see um aluminum is hanging around uh nickels nickels staying strong i mean stainless prices are pretty good best stainless price we’ve seen in a while um
base metal is the fairest market i feel like this got potential to to be strong in december still so that still is positive overall things look pretty good why do you think there was a dip last week like you know everything kind of started headed down do you know i don’t know it’s a traders market right now so i mean it’s i don’t know i don’t i don’t know the answer i mean you know people start talking about you know inflation and then all of a sudden everybody’s nervous that they’re going to raise rates and for whatever reason i mean there’s like a multitude of reasons but when people start talking about raising rates you see commodities you know that you know get get whacked and i it’s it’s such a roller coaster market right now and i mean you could probably you could say if you know the reason you mean i think you’re half-assed making it up yeah um or you’re just guessing like the rest of us well there’s a lot of chatter about the infrastructure bill you know yeah should be bullish for commodities i think yeah you would
think that but then you saw everything dive so i didn’t know if there was a connection there or people didn’t really have faith in the bill you know or like i feel like there’s a lot of sell the news like people the way the market’s built and structured at least in my opinion you see a lot of it where um the the anticipation of the news drives the pricing right and then when you actually get the news it’s like it’s it’s never good enough or it’s kind of a want want type deal you know and so i always feel like the you know betting on the the anticipation you see a lot of people you know jumping in jumping in riding that train as hard as they can the news comes out sell take your profits and go right yep i think there’s a lot of that that gets that gets put into these markets because it is you know years ago it wasn’t you know it was it was very uncommon to have the average guy you know being able to trade the futures market in commodities you know now i mean with
technology technology has made this thing as you know people are trading it they’re pushing the markets up and down and it has sometimes a lot of times nothing to do with the fundamentals as much as it has to do with just the trading going on you know the news cycles and whatever else while there’s the you know the real users of the commodities the real producers of the commodities whether it’s the miners or the urban miners the recyclers um you know we’re just living in and dealing with these fluctuations that really don’t make a ton of sense to us but it’s the traders that are pushing it and pulling it absolutely um way too early but what about ferris in december i think it’s going to be strong okay you still think it’s going to be so okay yeah it feels like that it feels like that’s that’s the chatter you’re going into the year and i think january could be even stronger if december is like is uh kind of is muted and i think january could be real strong i mean it really depends on what they do in december but if
they go light in december i’m not talking about like even the domestic steel mills then i would anticipate as long as there’s nothing crazy news cycle wise that january could be you know could be strong just because you know they’re gonna have to load back up yeah and and everybody i’ve that i’ve talked to um whether it’s you know some some bankers or you know some of the guys that are out there projecting 2022 everybody feels pretty good about at least the first half of 22. and i think everything everything after that is uh you know who knows a wait and see approach but you know i from a commodity standpoint infrastructure standpoint news cycle standpoint you know i feel like we’re going to end the year strong and potentially start 2022 strong sounds like a lot of people think that car production will finally get back online first quarter um and like like you said everyone i’ve talked to in multiple different industries they feel real confident about the first quarter yeah so we’ll see what happens time will tell yeah we’ll see what happens thanks everybody all right have a great day
have a great week