Metal Monday Episode #51 with Nick and Brett, December 19th, 2022

Brett and Nick are back with the final Metal MONDAY of the year. In this episode the guys take a closer look at copper pricing. Make sure to leave any questions you'd like the guys to answer either in the comments of this video, or on our LinkedIn or Instagram accounts.

Transcription

foreign second to last metal month well honestly the last medal Monday because we’re going to be closed next Monday but we’re gonna do metal Monday on Tuesday next week for Christmas so it’s gonna be metal Tuesday metal Tuesday next week but we’re not looking at a bloodbath this Monday because the bloodbath happened Friday and Thursday oh my goodness but we saw some big UPS we’re back I mean really we’re back down to just a little bit under 380 comex on copper um 377 what I looked at here a little bit ago nickels come off it’s in the mid-12s aluminum like a buck 17 on um on Kiko so it you know I don’t know I think it’s this these last two weeks of the year are like there’s not a lot going on um as far as on sales side or you know I know there’s a lot there’s trading but even like the trading volume is light like the Futures Trading volume on the Commodities is still pretty light so these numbers can get swayed pretty easily um going into the end of the year I mean so it’s if you’re trying

to price something or whatever I mean most generally in our industry I think a lot of that’s probably been done and at the end of 2022 you know Ferris obviously that markets is has been sold since or priced since the beginning of the month or at least that first after that first week so there’s really not a lot of pricing going on as much as there is production deliveries people are trying to squeeze that last little bit out of the year um I know even on our end it’s more about what can we mail box cut ship versus what’s the price today you know we obviously have to adjust going into you know as the markets adjust we adjust but the pricing for this year is kind of set so that’s kind of a moot point I think yeah and I think January will see some movement I mean even in January you’ve got to wait for the job um the Chinese New Year to get through yeah I think that and that’s like middle term Melody yeah so even like in the January it can be kind of stagnant yeah um one of

our good copper customers wanted some quotes he’s been stockpiling so I went over there last week and I gave them some numbers and he just asked me like what do you think I was like man I think it’s gonna be sideways if you really want to wait till like late January February we might see some movement but it could be down you never know so I just gave him some pricing and like we obviously can’t tell the future but I gave them like you know I don’t think any real movement will happen until at least we’re through these holidays yeah so I don’t know it’ll be interesting to see how that you know see what the pricing looks like in in 23. I’ve talked to a fair amount of people that feel like the ferris Market can be stronger um but depends what happens the next couple weeks um but I still think there’s there’s potentially some some upside to the market I think some starting in 2023 at least on the ferris side um pgms have gotten whacked pretty hard but they’re you know Platinum Palladium rant pretty hard there for a while

too but these last few days it was tough on them um rhodium as well but all in all you know 23 you’ll be a you know be a pretty fresh start and we’ll see where where this train goes um it’s cold over here in Idaho I know that it’s in single digits now so it’s it’s it it feels cold I I was gonna make a post I saw I took a picture of my uh temp gauge this morning it was 10. and I was like so you want to be in the scrap business huh like good luck it’s cold nothing wants to start you know everything is rough it’s just but that’s that’s what we deal with you know it’s either 100 or it’s 10 or you know it’s it’s we get every every season here yeah this morning well every morning my daughter she’s getting ready for school she says hey Siri what’s the temperature and she tells you it’s nine degrees and Caldwell but it feels like zero yeah I’m like okay so like we knew it was cold oh my God it was really cold today so and she just likes

to she just does it it’s just part of her habits so it’s cold out here our guy we’re making sure our guys are staying as warm as possible our equipments staying as warm as possible which is tough keep it plugged in yeah I you know it’s one of those uh one of those deals I’m uh it’s the last last push of before the holidays and then that week between Christmas and New Year’s is definitely even slower than this week so this is kind of the last the last two Raw for us this year as far as getting done in the office and trying to bang out as much as we can because that middle week between the two holidays is really slow it’s a slow it’s good to get though I like that week because I can get some like emails cleaned up I can get a lot of like stuff I’ve been wanting to do that’s just kind of been put on the back burner because I’m like it’s not pushing me up but that’s I’m looking forward to that because this week is balls to the wall I got mm-hmm we

were talking about this earlier I got a thousand things to need to get done and not that much time so here we go all right well everyone have a Merry Christmas enjoy your time with your families stay safe and we’ll see you on Tuesday have a great week and a great Christmas all right well we got part two of metal Monday two metal Monday we’ve been hatching on this idea of doing a q a and so once a week we’re going to do a q a session we’re not going to have it on a specific day but we get we get asked a lot of questions we get a lot of people that are like Hey how do you do this what do you do here you know we’re thinking about doing this or what made you do that you know just any sort of whether it’s a business question scrap question equipment anything anything industry related you know Nick and I um have pretty good rapport with a lot of people but we’ve decided we want to open up the Forum and allow people to ask us questions you know so what we

want you guys to do is submit the questions on to message us on LinkedIn you can message us on Instagram you can send us a direct messages however you’d like to do it we’ll start putting the questions together and then once a week we’re going to come in here and hash those questions out so yeah we’ll put a few posts out there to remind people too and um and just get those questions to any way you can get it to us we’ll continue to build that out to find the best way for you to get the questions to us so we can get get them answered and we’ll keep building it out and it’ll be exciting to maybe meet some new people in the industry too yeah 2023 we gotta switch it up a little bit so we’ll we’re going to keep doing metal Mondays we’re going to also add a q a session so looking forward to it um hit us up if anything we can help you out with and we appreciate you guys listening to the podcast all right thanks everybody