Metal Monday July 19, 2021 with Nick Snyder and Brett Ekart.
Play the youtube video and follow along with the text below.
Nick:
Well, finally sitting in person with Brett for a Metal Monday. The last couple have been via Zoom, which that Zoom thing is awesome.
Brett:
It's handy.
Nick:
I never used it before the whole corona deal.
Brett:
It's not something that I would want to do regularly. Like always, but it's a good tool for the tool chest. It's the ability to still do things like Metal Monday or have that meeting or conference. And maybe eliminate some travel or whatever, but definitely it's nice to have.
Nick:
It's nice. I mean, I seem to use it often for people I use for some marketing. Every weekend, people I talk to that are across the nation that don't really need to travel to meet. But it's nice to have that face to face still. I still think there's a ton of value in meeting in person. I think there's some stuff that just happens in person that can never happen through that.
Brett:
Yeah, dude, I'd never want to eliminate the in-person part of-
Nick:
And that's why for me on a personal level I would never want to work from home. There's the in-person things. It's just there's so much more value to it, and I think people are realizing that. The people that went to work away, you read some reports. Everyone's struggling with it, and they're missing that interaction.
Brett:
Sounds better than it is.
Nick:
Yeah, that separation.
Brett:
The good old the grass is always greener on the other side argument.
Nick:
Absolutely. Well, it's Monday and everything's red. Well, most things are red.
Brett:
Everything's on fire. In a bad way.
Nick:
Yeah. Everything's down-
Brett:
Forest fire. it's burning.
Nick:
Copper down ten.
Brett:
Yeah, it was down 12 or 13 at one point.
Nick:
Yeah, it seemed to rebound. Let's see what Kitco says.
Brett:
Yeah, everything is off. Other than aluminum, but it is what it is. It's part of the dance. It's part of the game that we all enjoy playing.
Nick:
Have you read any reports on why it's so down across the board?
Brett:
Well, you see, oil's getting crashed. That's a big part of it. The market in general. People are worried about the Delta variants of COVID-
Nick:
You think that's where it's coming from? Maybe they're wary of that.
Brett:
It's just people... It's the market. I mean, it's never always up. It's never always down. And right now it's been at pretty lofty levels for a while, so it's probably going to shake out some of the weak hands. There's no doubt about it. Or its just taking a breather. To me, I mean, it is what it is. I mean, that's part of the deal. We're still buying. We're still selling. We're still shipping. You've got to take the good with the bad, so. But yeah, does it change your motivation to sell on days like today? Absolutely, but I'll see where this thing shakes down.
Nick:
Yeah, let's see where it lands, and I mean, we adjust-
Brett:
Yeah, but I'm still buying. I'm still buying, because I think it's days like today that I like to buy. .
Nick:
And I've said this 100 times, you've got to adjust up and down. So, if anyone out there listening to this dealing with a scrapyard, or you've had the same price for a little while, you better take a harder look at that, because things go up and down.
Brett:
Yeah, exactly. Yeah.
Nick:
All right.
Brett:
It's days like today that keep you on your toes.
Nick:
Yeah, absolutely. Well, cool. Anything else
Brett:
That's it, man. We'll see in the couple of weeks where ferrous shakes out. Price of new steel doesn't seem to be coming down any time soon, but I think going into August, it'll be interesting to see where everything goes.
Nick:
Do you have any predictions?
Brett:
Predictions? No.
Nick:
Nothing?
Brett:
I mean, I'm the guy that predicted $5 copper, so I don't know if you want to listen to my prediction right now.
Nick:
It still might be here.
Brett:
I think we'll get there, but we'll see.
Nick:
Okay. Thanks, everybody.
Brett:
All right. Have a great day.