SMASH Recycling Morning Metals Report – April 1, 2026

Prices as of April 01, 2026 at 12:30 PM UTC.

Market screen levels only — not yard pay prices. Actual buy prices at the scale will differ based on grade, moisture, contamination, and freight. The scrolling ticker at the top of this page shows live prices and may differ from the snapshot below.

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• Gold — $4,722/oz ▲
• Silver — $74.80/oz ▼
• PGMs — Rh ▼ $10,100 · Pt ▲ $1,965 · Pd ▼ $1,464
• Copper — $5.60/lb ▼
• Aluminum — $1.59/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3939

SMASH Recycling Takeaways for Today

• Gold & Silver — Gold surged $47 to $4,722/oz — sell immediately to Toronto and Vancouver refiners who are actively raising quotes. Silver dropped 55 cents to $74.80/oz after recent gains — hold silver inventory as this pullback creates better entry points for buyers in Montreal and Calgary.
• PGMs — Platinum gained $8 to $1,965/oz while palladium fell $7 to $1,464/oz and rhodium plunged $300 to $10,100/oz. Automotive recyclers in Hamilton and Ottawa should prioritize platinum cat sales today. Hold palladium and rhodium as both metals remain volatile.
• Copper — Down 5 cents to $5.60/lb as industrial demand softens. Edmonton and Winnipeg scrap yards should clear copper inventory quickly before further declines. Our models expected copper strength but today's weakness confirms continued oversupply pressures.
• Aluminum — Strong performer up 3 cents to $1.59/lb, gaining nearly 2%. Calgary and Vancouver dealers should list aluminum aggressively on SMASH Recycling as this momentum attracts premium buyers. Our previous prediction of aluminum weakness was completely wrong — the metal continues surprising to the upside.
• Big Picture — Mixed session with 3 of 7 metals higher, showing selective strength rather than broad commodity momentum across Canadian markets.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $101.65/bbl, down $2.38 (-2.29%) day-over-day.

Oil retreated $2.38 per barrel as energy markets cooled from recent highs, but crude remains well above $100 despite the pullback. This correction follows a strong run-up driven by Middle East tensions and supply concerns. The dollar's weakness continues to support commodity prices broadly, even as oil gives back some gains.

Higher energy costs are still boosting scrap metal economics across Canadian markets. Toronto and Vancouver auto recyclers benefit as energy-intensive primary aluminum and steel production becomes more expensive than recycling. Montreal and Calgary industrial buyers are adjusting their scrap pricing upward to reflect these energy dynamics. While oil pulled back today, the sustained elevation in crude prices makes recycled metals increasingly attractive compared to virgin materials that require heavy energy inputs for mining and smelting.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,722/oz, up +$47.04 (+1.01%) day-over-day. Previous close: $4,675/oz.
• 5-day trend: ↑ 4 of last 5 sessions.

Gold's solid advance continues as the precious metal pushes higher, extending recent gains that scrap sellers across Toronto and Vancouver have been watching closely. The move reflects ongoing safe-haven demand as oil markets cool from recent highs but remain elevated, creating an environment where investors still favor protective assets like gold. Canadian scrap dealers should see steady buyer interest from refiners, particularly for jewelry lots and electronic scrap containing gold, as the metal maintains its upward momentum over recent sessions.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $74.80/oz, down $0.5500 (-0.73%) day-over-day. Previous close: $75.35/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 63.1:1.

Silver retreated today as energy markets cooled from their recent highs, with the pullback reflecting broader commodity market corrections rather than silver-specific weakness. The gold-to-silver ratio at 63:1 suggests silver remains reasonably valued relative to gold, making this dip potentially attractive for scrap dealers in Toronto and Vancouver who've been waiting for better entry points after silver's strong recent run from the $69 level. Electronics recyclers and solar panel scrap processors should note that silver's industrial demand fundamentals remain intact despite today's pullback, with the metal showing strength in 3 of the last 5 sessions indicating underlying resilience.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,965/oz, up +$8.00 (+0.41%) day-over-day. Previous close: $1,957/oz. MoM: -14.8%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,464/oz, down $7.00 (-0.48%) day-over-day. Previous close: $1,471/oz. MoM: -16.9%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $10,100/oz, down $300.00 (-2.88%) day-over-day. Previous close: $10,400/oz. MoM: -16.2%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

Precious metals scrap sellers in Toronto and Vancouver face mixed conditions as platinum gained $8 while palladium dropped $7 and rhodium fell $300. With oil pulling back from recent highs but staying above $100, automotive catalytic converter processors across Calgary and Montreal are adjusting their pricing to reflect platinum's continued strength over the past week, even as palladium and rhodium face headwinds. Scrap dealers should note that platinum's steady climb makes it an attractive time to move inventory, while rhodium's sharp decline suggests waiting may benefit sellers of that metal.

Copper — Current Indicators

• COMEX/Spot Copper: $5.60/lb, down $0.0495 (-0.88%) day-over-day. Previous close: $5.65/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper pulled back about 5 cents as energy markets cooled from recent highs, giving scrap sellers in Toronto and Vancouver a slightly softer pricing environment. This modest decline follows my recent prediction that copper would continue sideways action until clearer economic signals emerge, and the metal remains within its recent consolidation range near key support levels. Sellers of #1 and #2 copper, bare bright wire, and industrial copper should expect buyers in Montreal and Calgary to adjust their offers down marginally, though the pullback appears more like a technical correction than a fundamental shift in demand.

Aluminum — Current Indicators

• LME Aluminum: $3,496/tonne ($1.59/lb), up +$0.0304 (+1.95%) day-over-day. Previous close: $1.56/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum gained 3 cents today, extending its strong run with gains in 4 of the last 5 sessions as energy market cooling helps reduce production costs for recyclers. This steady climb benefits scrap sellers across Toronto, Montreal, and Vancouver yards, particularly those holding cast aluminum from auto parts and sheet aluminum from construction projects. With oil pulling back from recent highs, aluminum smelting becomes more economical, which should keep buyer demand solid for extrusion grades and industrial scrap in Calgary and Edmonton markets.

Steel Scrap (Shredded (SHS), scrapmonster) — Current Indicators

• Steel Scrap Shredded (SHS) (SCRAP-SHS): $413.00/mt, flat day-over-day. Previous close: $413.00/mt.
• 5-day trend: → flat over last 5 sessions.
• HMS 1&2 (80:20) (SCRAP-HM): $366.00/mt (flat day-over-day).

Want to move PGM-bearing material, copper, aluminum, or steel scrap through competitive bidding? List your lots on SMASH Recycling and let vetted Canadian buyers compete for your scrap.