Podcast Transcription: Metal Monday Ep. 2 - 1.11.2021

Updated: May 5

Hosts, Nick Snyder and Brett Ekart, talk about their weekend shenanigans and the scrap market prices for the week of January 11, 2021.

Nick:

All right, I'm sitting here with my main man, Brett. How you doing, man?


Brett:

I'm good, man. Just watching the blood roll through the streets in the copper market this morning.


Nick:

Not every Monday can be an up Monday.


Brett:

No.


Nick:

We got a rough one for everyone today. What are we down, like eight?


Brett:

It's 11 right now.


Nick:

11. I tell you, I didn't look for like 30 minutes, now it's 11.


Brett:

Yeah, it's a little... At least on the spot side, it's a little bit rough this morning. But so is life, and if you don't like the ups and the downs, you're probably in the wrong business, especially right now. It's pretty wild out there.


Nick:

Without the downs, you can't appreciate the ups, man.


Brett:

Exactly.


Nick:

It's just true in everything in life, man.


Brett:

Yeah. And at the end of the day, this is the business that we chose, the business that we're in. And I guess if you had a lot to sell today or you had a lot on the hook or you're riding the lightning pretty hard, then maybe you're feeling a little rough this morning. But generally speaking, I think that you've got to have these stairsteps in this, especially in the commodity side, to keep pushing higher highs.


Nick:

Absolutely. What's everything else done? Everything else gettin'...?


Brett:

Nickel's off, precious metals are definitely off. And I think most everything is due to the dollar's strength. There's a lot of bullshit going on on the politics side. I think people just don't like the volatility of politics and economics, some of these things that are kind of going on that need to shake themselves out. And then I believe the trend will set back again and will continue pushing positively on the commodity, especially on the base metal side. You can only print so much money and paper over stuff before you're going to get some gains again.


Nick:

So when the dollar's weak, it generally pushes commodities up.


Brett:

Generally speaking-


Nick:

Got it.


Brett:

... as long as the export markets are there to soak the material up. And in the domestic economy, I talk to a lot of people every day and... For example, I talked to a plumber this morning on my way to work. And I said, "How's business?" And he goes, "It's busy as I've ever seen it. I just can't find the help." But the economy's there. It's ready, at least in our area. And I can't speak for every metropolitan, rural area, but I can say that for us over here, people want to work. People are doing stuff. It's just a matter of getting over the hump of the labor side, is probably the biggest thing right now.


Nick:

And a week ago, you didn't have your ferrous numbers all the way knocked out. Did things go up-


Brett:

Ferrous market is up anywhere from 50 to a hundred bucks, depending on the grade. Which I know is a pretty big delta, but there's a lot of different grades and material, depends on what your markets are. But the markets did move up again. So I think January at least for now, it's kind of game on. We're going to be out there hustling and doing what we do and trying to move scrap and buy scrap. It's a good thing. We haven't seen this kind of ferrous market for a while. So for right now, we're going to take it while we can get it.


Nick:

And copper.


Brett:

Copper's... Even if it loses today a lot, even at 11 cents, at $3.56... Shit, a month ago, we would have been kissing each other's butts to see $3.56. We would've been slapping hands like...


Nick:

So it's all relative, man. It's just relative. Right now, I was like, "Oh, it sucks." But really, like you said, six months ago, $3.56 looked pretty awesome.


Brett:

Yeah, everybody would have been buying each other beers at the local... What did they used to call those, it's a place where you couldn't go drink in a bar legally?


Nick:

Oh, the speakeasies?


Brett:

Yeah. That's what the world would be at, you have to go to a speakeasy now to buy a drink. Some of these-


Nick:

You got to go to a speakeasy to buy a drink, but a lot of places you can walk around with some marijuana.


Brett:

Yeah. In Oregon, you can just do drugs.


Nick:

Yeah.


Brett:

Whatever drug you want.


Nick:

See, the times are a-changing, people.


Brett:

Yeah, the times are changing. The scrap markets are up, it's Monday, and we're not complaining over here in Idaho. We'll just do what we do.


Nick:

All right. Thanks, everybody.


Brett:

All right. Take care. See ya.

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