Cup o Joe - A Metals Podcast

Steel prices have been climbing longer than many expected. And according to the futures market, the rally may still have room to run.Mike and Nick examine why domestic steel prices remain elevated, how tariffs are changing the economics of imports, and why additional production capacity isn't necessarily translating into immediate relief. With futures pointing toward prices above $1,400 per ton in early 2027, they discuss the forces behind the rally and what steel buyers should be watching.

Aluminum prices remain stubbornly elevated, even as buyers look for signs of relief. Meanwhile, copper is navigating tariffs, shifting demand and growing infrastructure requirements.In this episode, Mike and Nick unpack the forces keeping aluminum expensive, including domestic supply constraints, Midwest premiums and the economics of bringing additional production online. They also examine copper's reaction to market developments and why transportation costs and global supply disruptions continue to matter.

More than 1,000 data centers are planned across the United States. But could changing political priorities alter where, when and how quickly they get built?Mike and Nick explore the geographic concentration of planned data centers, the potential implications of the midterm elections, and what shifting energy and infrastructure priorities could mean for future metals demand. With billions of dollars in investment at stake, the relationship between politics, power and construction is becoming increasingly important for metals buyers.

How much aluminum goes into a commercial aircraft? Why are certain aerospace grades so difficult to find? And what could put a ceiling on carbon steel prices? We tackle those questions and more in this Cup o’ Joe listener Q&A.

More launches, more satellites—and potentially even data centers in orbit. Zach Erra-Hernandez explores the growth of the commercial space market, the metals it requires and why space could become another significant source of demand.

Billions are pouring into AI, data centers and the infrastructure needed to support them. But we’ve seen transformative technologies trigger massive investment booms before. Nick Webb looks at the surprising parallels between today’s AI buildout and the railroad boom—and what history might tell us about what comes next. 

Manufacturing demand is showing signs of strength—but lean inventories, longer supplier lead times and concentrated demand are creating new challenges. Nick Webb breaks down the latest economic signals and what they could mean for metal buyers.

Give us 15 minutes, we will give you the latest on metal prices. We break down tightening availability, pricing pressure, trade developments, and the contract negotiations already shaping the outlook for 2027.

Aircraft production is ramping up, but aerospace-grade metal capacity can’t expand overnight. Ryerson Aerospace Market Manager Zach Erra-Hernandez explains where supply is getting tight and why aerospace growth could affect metal buyers well beyond the industry.

In this special Cup o’ Joe detour, Jim Reed, Brian Crane, Nick Webb and Mike Carrozzo trade metal market insights for tasting notes and share what’s currently in their glasses—or on their bourbon wish lists.From Eagle Rare and Weller 107 to Angel’s Envy, Old Elk, Bardstown and a few lesser-known finds, the group swaps recommendations, talks favorites and proves that sometimes the best part of a market discussion has absolutely nothing to do with the market.Consider it your Cup o’ Joe bourbon break.