Network Metals LLC

We’re still trying to get our hands around the events of yesterday and the weekend. Ultimately we’re not sure how the situation fits into the larger context of the money going to auto parts suppliers, whether GM and Chrysler end up filing for bankruptcy or not. Over the next few days we’ll be speaking with our customers who supply auto parts to the car companies, and will hopefully get a better grip on what these means for them and the metals they consume. Overall, to us this looks like the auto industry is taking one step backwards to eventually take two steps forward, but what that means to the metals markets can really not been determined yet.