SMASH Recycling Morning Metals Report – April 13, 2026

Prices as of April 13, 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 — $4,710/oz ▼
• Silver — $73.91/oz ▼
• PGMs — Rh ▼ $10,000 · Pt ▼ $2,019 · Pd ▼ $1,506
• Copper — $5.88/lb ▲
• Aluminum — $1.61/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3825

SMASH Recycling Takeaways for Today

• Gold & Silver — Gold down $44 to $4,710/oz and silver down $2 to $74/oz. Toronto and Montreal dealers should hold inventory as these declines appear oversold after recent volatility. Our models called silver higher but missed the reversal.
• PGMs — All platinum group metals declining today with platinum down $25 to $2,019/oz and palladium down $1 to $1,506/oz. Vancouver and Calgary auto cat processors should wait for stabilization before major sales as automotive demand signals remain mixed.
• Copper — Up less than a cent to $5.88/lb, showing resilience while other metals fall. Hamilton and Ottawa industrial sellers should list copper inventory now as Chinese demand indicators continue strengthening across manufacturing sectors.
• Aluminum — Up 2 cents to $1.61/lb, the strongest performer today. Winnipeg and Edmonton recyclers should move aluminum stock immediately as energy-intensive primary production costs keep scrap values attractive to buyers.
• Big Picture — Only 2 of 8 metals higher today as broad selling pressure dominates most commodity markets.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $102.39/bbl, up $7.94 (+8.41%) day-over-day.

Oil surged $7.94 to $102.39 per barrel as Iran war tensions escalate, driving traders toward cryptocurrency settlements as banks retreat from trade finance. This sharp energy spike will pressure Canadian scrap operations with higher transportation costs from Vancouver to Montreal and increased processing expenses at facilities across Ontario and Alberta. The combination of geopolitical risk and banking sector caution creates a challenging backdrop for scrap flows, particularly for energy-intensive aluminum recycling operations.

Higher crude costs typically boost scrap metal values as energy-intensive primary production becomes less competitive, making recycled materials more attractive to buyers. However, the current macro environment shows mixed signals with the dollar index weakening and inflation expectations rising slightly. Canadian yards should expect processing cost increases to work through pricing over the next two weeks, while the banking disruption could complicate international scrap transactions. Toronto and Calgary operators may need to adjust margins as transportation fuel costs climb sharply from these elevated oil levels.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,710/oz, down $44.41 (-0.93%) day-over-day. Previous close: $4,755/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold slipped $44 today as Iran war tensions continue driving energy costs higher, creating a complex backdrop for scrap sellers across Canada. Despite the decline, gold remains well above recent lows as traders balance geopolitical risks against rising oil pressures that are squeezing transportation margins from Vancouver to Montreal. Toronto and Calgary scrap dealers should monitor how sustained energy spikes might actually boost gold's safe-haven appeal if regional processing costs force more industrial buyers toward precious metals recycling.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $73.91/oz, down $2.01 (-2.65%) day-over-day. Previous close: $75.92/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 63.7:1.

Silver dropped $2.01 to $73.91 per ounce today as war tensions and oil's surge to $102.39 per barrel pressured industrial metals across Canadian scrap markets. The decline puts silver back below key technical levels that Toronto electronics recyclers and Montreal industrial sellers have been watching for market direction. Despite the pullback, silver's gold ratio at 63.7:1 still signals it remains undervalued relative to gold, suggesting opportunity for Vancouver and Calgary scrap dealers who can time their sales around upcoming volatility.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,019/oz, down $25.00 (-1.22%) day-over-day. Previous close: $2,044/oz. MoM: -0.4%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,506/oz, down $1.00 (-0.07%) day-over-day. Previous close: $1,507/oz. MoM: -1.9%.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $10,000/oz, down $200.00 (-1.96%) day-over-day. Previous close: $10,200/oz. MoM: -13.0%.
• Rhodium 5-day trend: → flat over last 5 sessions.

Precious metals faced broad selling pressure today, with platinum dropping $25 to $2,019/oz, palladium slipping $1 to $1,506/oz, and rhodium declining $200 to $10,000/oz. This weakness continues the downward trend seen in recent sessions, with platinum and palladium both falling in four of the past five trading days. The selling pressure comes despite oil surging to $102.39 per barrel on Iran war tensions, which typically supports precious metals as safe-haven assets but is instead driving up processing costs for Toronto and Montreal recyclers.

Copper — Current Indicators

• COMEX/Spot Copper: $5.88/lb, up +$0.0075 (+0.13%) day-over-day. Previous close: $5.87/lb.
• 5-day trend: ↑ 5 of last 5 sessions.

Copper edged up less than a penny to $5.88 per pound as Iran war tensions drive oil prices higher, creating cost pressures for scrap operations across Canada. The small gain continues copper's five-day winning streak, but rising energy costs from oil's surge to $102.39 per barrel will squeeze margins for Toronto and Vancouver copper processors handling #1 and #2 grades. Wire strippers in Montreal and Calgary should expect transportation costs to climb as the Iran situation pushes traders toward cryptocurrency settlements while banks pull back from trade finance.

Aluminum — Current Indicators

• LME Aluminum: $3,560/tonne ($1.61/lb), up +$0.0219 (+1.38%) day-over-day. Previous close: $1.59/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum climbed 2 cents to $1.61 per pound as war tensions drive energy costs higher, making recycled metal more attractive than energy-intensive primary production. Toronto and Montreal scrap dealers should list cast and extrusion inventory now while transportation costs remain manageable. Sheet aluminum sellers across Vancouver and Calgary markets benefit most from this energy-driven demand shift toward recycled materials.

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.