Scrap Life Podcast – Metal Monday

Nick: Welcome to another Metal Monday! We’re two green Mondays in a row—Go Green, Eagles! I think most people in our neck of the woods were rooting for the Eagles. People tend to get tired of consistent winners, which is funny because I never let myself feel that way about Tom Brady, but I kind of did with the Chiefs.

Brett: Yeah, but you already had a reason to dislike the Chiefs—you’re a Raiders fan!

Nick: Exactly! I’ve hated the Chiefs since day one. But for others, it’s just about wanting to see something different. Everyone loves an underdog story, but people also love tearing others down once they’re on top. The Chiefs didn’t win much for a long time, then they got a great coach, an amazing quarterback, and the right pieces, and now they’re dominant. At first, everyone loved it, but now it’s the classic build-you-up-just-to-tear-you-down situation. Either way, I was happy to see the Eagles win—it wasn’t even close!

Brett: Yeah, I usually just want to see a good game, but this time, I actually enjoyed watching the Chiefs get dominated. It was up and down both sides, just an absolute beatdown. I slept like a baby last night!

Copper Market Trends

Nick: So, tell us what copper has been doing this past week.

Brett: It’s been on an absolute tear! Chad Ellerbrock and I did our Bulls vs. Bears episode, and we talked about copper sitting at $4.25 at the start of the month. Since then, it’s climbed steadily. Today, we’re at $4.70!

Nick: I saw that too! On Friday, I saw the market was up and thought, “This is the highest copper has been in months,” so I priced out a load of copper chops. Felt pretty good about it—until this morning when I woke up and saw the market was up another 12 cents! I mean, nothing like leaving money on the table, right?

Brett: That’s just the nature of commodities. But hey, they make more copper, and we’ll keep recycling more. If the price keeps climbing, we’ll just buy more. Still, when you hit a good sale, and then the next day prices jump even higher, you can’t help but think, “Man, if I’d just waited one more day!”

Nick: Right! But for anyone who held onto their copper and saw this coming, good for you. I hope you win big at $4.70—that’s an incredible number.

Market Volatility and Economic Impact

Brett: I think the bullishness in commodities, especially base metals, is tied to the overall optimism in the economy. Some of this is linked to the tariffs, like Trump announcing a 25% tariff on steel and aluminum. He didn’t mention copper, but these kinds of economic moves create ripple effects.

Nick: Yep, and volatility isn’t going anywhere. So yeah, I sold on Friday, and sure, hindsight is 20/20. But if you get too high or too low on yourself, you’ll drive yourself crazy. You just have to make a good sell when you can.

Brett: Exactly! Especially in volatile markets, you’re straight-up gambling if you just sit around waiting for the “perfect” price. I honestly expected copper to correct and drop 10 cents today, but it didn’t.

Ferrous and Other Metals Trends

Nick: The ferrous markets are also up this month. Aluminum and PGMs were up this morning too. It’s cold as hell here in Idaho—10 degrees today and even colder tomorrow. But by next week, it should start warming up. If all this optimism carries into the spring, we could be looking at some really strong scrap markets.

Brett: And that’s good news not just for us, but for our customers. If markets are up, we all win.

Winners and Losers in a High Market

Nick: Not everyone loves high metal prices, though. Some of our customers are buying new material, and high costs hit them hard.

Brett: Yeah, it depends on the industry. Demolition guys love high markets, but electricians and plumbers hate them. A lot of companies can’t hedge copper purchases, so when they bid jobs at one price and then have to buy materials at a higher market rate, it’s a real challenge.

Nick: We’re in the business of passing along price changes to customers, but not everyone has that luxury. And it’s not just about raising prices when the market is up—you also have to lower them when it drops. The knife cuts both ways.

Brett: Exactly! No one likes making the “bad news” call when prices fall. That’s why I save those calls for Fridays!

Nick: So if Nick calls you on a Friday, be cautious about picking up!

Brett: If I call you on a Monday, though, it’s probably good news!

Final Thoughts

Nick: Thanks, Brett, and thanks, everyone, for tuning in. We’ll keep watching the markets and be here every Monday to keep you updated. It’s shaping up to be an interesting year, so buckle up and let’s go!

Brett: And if we hit $5 copper, you’ll definitely hear from us! Take care, everyone!

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