Metal Monday Episode #8 with Nick and Brett, February 20th, 2023

Nick and Brett are back for another Metal Monday to talk metal pricing! Make sure to send any questions you'd like the guys to answer to (208) 487-4311

Transcription

foreign we got a mobile Metal Monday Triple M yes sir yes sir no Bloody Marys for you today Brett we see a lot of green in the market so yeah nobody marries for me I’m traveling I’m over in Salt Lake City right now um I’ll be back in the office tomorrow so but you know we got to get these metal Mondays in especially if it’s not just bleeding all over us we definitely got to get these ones in to get for the most part the markets are the ones that are opener anyways are at least trading a little more positive than they were last week so the comex is trading lmes trading you’re seeing both those markets go up I don’t know I don’t know about the comex for sure you know like I said we our our you know our the what we do daily the only thing that really we probably pay attention to at least that I pay the most attention to on a daily daily basis is you know generally the Copper’s aluminum you know steel trades you know for the most part once a month and our pgms are

so volatile lately so we I really watch those daily you know Platinum pain rhodium um but other than that like you know we the the lme just usually just kind of gives us a benchmark really of where the markets are right or where they’re trending so that we can run our daily you know buys and sells and kind of I gauge it more off like what what can I sell the material for versus say what does the lme telling me what the price of aluminum should be right it gives you some insight on you know where our price will be it gives us Insight where we should buy it it’s always important number trending which way it’s trending you know that all that jazz yeah we see some major movements we have to adjust on our Buy price but try to try not to unless we have to if it’s down you know if it goes up we try to move it you know to be competitive give a fair number out there exactly 100 um we’re so close to March we’ve had three is it three months in a row where Ferris has

been up yeah December December January and February and December wasn’t a big up move it just wasn’t as big of a download as people thought it was there was a sideways to maybe up a little bit January’s uh February’s uh so we’ll see what like March really brings pricing wise um you know I’ve been hearing some talks and murmurs of soft sideways we’ll see how much of that’s true obviously today’s the 20th there’s what only eight more days in this month so I feel like if you’ve got ferrous crap you’re you know it’s not going to hurt you to get it moved on this on this market and if it does move up or you know sideways you know great but you know the goal for us is always to keep it moved so so we’re hoping for sideways for March I mean we’re hoping for up I mean but I’m the other and see yeah those are quicker the goal is to make the go away and make it move well we’ll report that here uh in the next couple weeks on where that’s going and hopefully these non-ferrous markets continue to

kind of recover from last week because last week we had a really rough week you know things yeah especially at pgms like you said pgm’s just yeah um and I don’t know what’s driving that I mean Palladium is obviously getting crushed I got a podcast coming out this week with Matt Watson and we’ll discuss Platinum Palladium and rhodium um you know all the indications I talked to some of the uh refiner Refinery guys especially guys we sell to and they still feel fairly strong about rhodium but you know Palladium is definitely you know in a pretty abundant Supply Platinum they feel is probably the one in the you know medium term has got the most legs you know but generally speaking I mean you know to be sitting on a bunch of pgms is is a rough is a rough spot to be in right now you know if you’re planning on selling if you plan on holding I think you got a fighting chance but you know the rest of it I mean copper is still trading above four bucks again I mean like that’s it you know that market looks good and

uh you know aluminum still holding its own um nickel you know nickel saw decent bounce back if they can get some things squared away with this economy and the spring turns out a little bit better than maybe what people thought I think they still got a Fighting Chance on the commodity side but um we’ll see I mean fingers crossed you know keep your scrap moved and uh keep battling okay well hey uh this Friday let’s do another q a so everyone shoot us some text messages I’ll put it on this post um and we’ll do that this Friday but thank you Brett I love it man yep see everybody I’ll see you tomorrow and uh see everybody else next week thanks