Metal Monday Episode #51 with Nick and Brett, December 18th, 2023

It's the last Metal Monday before Christmas and Nick and Brett are back to talk metals markets. The guys discuss what to expect in the end of 2023 and what's to come in 2024. Ferrous is up in December, nickel is struggling, aluminum is hanging in there and PGMs are up. If you'd like to guest star on Metal Monday or be on A Scrap Life, text us at: (208) 487-4311. Produced by Recycled Media.

Transcription

all right Brett we only got a few more of these this year man it’s it’s kind of wild that this year is wrapping up what do we have two more no one more two more we’re going to have to figure that out and doing on so thises I think sky are we at 50 yeah should be number 5 you’re having fun and then uh we got the next two week Mondays are going to be the Christmas and New Year so we won’t be in office but we’ll probably try to squeeze them in on Tuesdays um metal Tuesday metal Tuesday next maybe it’ll be green that day cuz Mondays are it’s red again a hard time but dude we had a rally copper rallied on us last week Ser say we got a chance all you need is like 12 cents 12 14 cents but like I said all we need is the Fed to come out and say you know we’re going to take a break from the rates and I think that sparked a rally of all rallies um last week I think that’s been a that’s been a big part of

this move you know and I think if they really do hold true to actual rate Cuts next year what what did I read four or five rate Cuts I think three okay was what they were saying um in 24 24 okay yeah and so whether that’s true or not we’ll see whether they’re just trying to you know take some put put a little momentum back in this market you know who knows but it’s good to see the medals bounce back you know obviously Ferris is up we talked about this Ferris was up in December potentially looking up in um January so you know how much we’ll see but I I think that you know it’s base medals 2024 could be a good year for baseballs I mean I think people thought 23 would be better than it was but I think that it you know it’s an election year I don’t feel like the current existing um regime is going to allow it just to fall on its face in an election year the market in general so I have a hard you know hard time believing I mean I that they’re going to

just let this Market go to hell which I’m not saying what’s going to happen in 25 or but I think that for the most part I mean I feel like the government and the FED are going to do what they can to prop this market up so that’s good at least in the short term for you know base Metals pricing we’ll see what what did the other markets do how nickel do how aluminum do you know it’s nickel’s is struggling um it bounced back a little bit off the bottom aluminum’s holding its own and I think you know you know aluminum pricing had got a little bump with with the with the whole Market you know last couple days of of last week um copper bounce like we talked about 12 13 cents away from $4 um the PGM is what really saw some love yeah I mean you saw padium and you know get had a pretty good you know probably a couple hundred bucks all in between the last few days yeah and you know platinum’s getting some love rodium is getting a little bit of love and so you know gold

and silver aren’t two that we track all that much just because we don’t do enough to get excited about well we more track Platinum Plum rodium copper nickel aluminum and those three feel like they’re in store for a run I feel like they are um but you know I think that that’s going to highly depend on couple factors like what happens in Russia MH you know what happens in South Africa obviously those are your two big and then what happens with the this Automotive Market mhm um you know if EVS start to take a breather and people decide that that’s not the the the thing of the future I mean maybe it’s a piece of it but not the only thing then maybe that that creates that whole you know move back to okay well how do we make the you know the cleanest air coming out of the gas you know pipe then then people focus on the C Fus on you know the converter again so and if Automotive Sal are picking up I saw November Auto Sales were up so you know depend if they can get these interest rates down

then that’s going to help Automotive Sales because it’s hard to go buy a new car at today’s price there’s no such thing as a $40,000 half ton pickup anymore nope you know it’s a $60,000 half that’s like the bottom of the barrel base model so you’ve got a $60,000 half ton at whatever interest rate that’s a that’s a truck payment right there you know and I think that if they can get those interest rates down then Automotive Sales will pick up again and that’s going to really push the pgms in 24 but that’s a lot of ifs and a lot of you know guesses so well we’ll see we’ll be here every Monday or Tuesday if there’s a holiday we’ll keep people in the loop you guys got Bulls versus Bears once a month keeping people in the loop trying to keep everybody we put out the recycle 360 newsletter try to bring more and more industry experts into helping that newsletter for for our groups and if you have any questions any ideas reach out to me or Brett or one of our company Pages we’ll get get with you

absolutely hope everybody has a great Christmas and Chloe decides she want to be on the show today and uh we’ll go from there but I hope everybody has a great holidays um we’ll see you next Tuesday and by that time Christmas will be over with we got one more to finish line here this week and we make it happen thank you everybody have a great day