SMASH Recycling Morning Metals Report – April 14, 2026

Prices as of April 14, 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 — $4,765/oz ▲
• Silver — $77.46/oz ▲
• PGMs — Rh ▼ $9,950 · Pt ▼ $2,066 · Pd ▼ $1,554
• Copper — $6.02/lb ▲
• Aluminum — $1.61/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3812

SMASH Recycling Takeaways for Today

• Gold & Silver — Hold precious metals inventory as both gained today. Gold up $22 to $4,765/oz and silver jumped $1.81 to $77/oz (+2.4%). Our models correctly called silver's recovery from recent weakness. With energy costs stabilizing around $102/bbl oil, transportation margins are improving for Toronto and Montreal dealers.
• PGMs — Mixed signals demand selective selling. Palladium down $6 to $1,554/oz and rhodium fell $150 to $9,950/oz, while platinum stayed flat at $2,066/oz. Calgary and Edmonton auto cat processors should list palladium inventory now before further declines. Hold rhodium at this round-number support level.
• Copper — List copper scrap immediately at $6.02/lb (up 3 cents). Hamilton and Windsor operations benefit from the $3.5 billion critical minerals investment driving industrial demand. Our analysis correctly predicted copper's consolidation would break higher.
• Aluminum — Wait before major aluminum sales despite current $1.61/lb level (down 3 cents). Vancouver and Winnipeg recyclers saw strong recent gains that are now pulling back. The federal critical minerals policy still supports medium-term outlook.
• Big Picture — Only 3 of 8 metals gained today, showing mixed market conditions that favor selective selling over broad inventory moves.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $98.17/bbl, down $0.0400 (-0.04%) day-over-day.

Oil fell 4 cents to settle near $98 per barrel as markets weigh geopolitical tensions against demand concerns. The modest decline follows yesterday's surge above $102, suggesting traders are taking profits after the recent run-up driven by Middle East uncertainty. Nuclear energy developments and critical minerals policy support continue to shape long-term commodity outlooks, but near-term oil volatility remains the key driver for scrap operations.

Energy costs staying below $100 per barrel provides breathing room for Canadian scrap yards after weeks of margin pressure from higher fuel and transportation costs. Toronto and Montreal dealers should see some relief in trucking expenses, while Vancouver processors benefit from lower shipping costs to Asian markets. The oil pullback also reduces input costs for aluminum smelting and steel production, keeping scrap values competitive against primary metals. However, the banking restrictions affecting commodity traders due to Iran tensions could create payment delays and market friction that impacts precious metals flows through Hamilton and Calgary recycling operations.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,765/oz, up +$21.78 (+0.46%) day-over-day. Previous close: $4,743/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold gained $21.78 to reach $4,765 per ounce as markets weighed geopolitical tensions against stabilizing oil prices near $98 per barrel. The modest advance comes after recent volatility, with scrap dealers in Toronto and Vancouver seeing steady buying interest from refiners despite the precious metal's mixed recent performance. Central bank purchasing programs continue supporting underlying demand, making this an opportune time for Hamilton auto recyclers and Ottawa e-waste processors to move accumulated gold inventory before potential profit-taking pressures emerge.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $77.46/oz, up +$1.81 (+2.39%) day-over-day. Previous close: $75.65/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 61.5:1.

Silver jumped $1.81 to $77.46 per ounce today as industrial demand signals strengthen across North America. The 2.39% gain brings relief to electronics recyclers in Toronto and Vancouver who have watched margins compress during recent price weakness. Silver's dual role as both a precious metal and industrial commodity is showing, with solar panel manufacturers and electronics producers driving demand higher. The gold-to-silver ratio sits at 61.5-to-1, suggesting silver remains relatively cheap compared to gold and could attract value buyers. Scrap silver sellers in Montreal and Calgary should watch for continued momentum, as three of the last five trading sessions have been positive.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,066/oz, down $1.00 (-0.05%) day-over-day. Previous close: $2,067/oz. MoM: +1.9%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,554/oz, down $6.00 (-0.38%) day-over-day. Previous close: $1,560/oz. MoM: +1.2%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $9,950/oz, down $150.00 (-1.49%) day-over-day. Previous close: $10,100/oz. MoM: -13.5%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

All three precious metals group metals closed lower today, with rhodium seeing the biggest decline at $150 per ounce. Platinum dropped just $1 while palladium fell $6, suggesting auto sector demand remains weak across Toronto and Vancouver recycling centers. The modest declines follow yesterday's oil surge above $102, but with crude now pulling back near $98, transportation costs for scrap operations should stabilize. Montreal and Calgary auto cat processors may find better buying interest if these PGM prices hold steady through the week.

Copper — Current Indicators

• COMEX/Spot Copper: $6.02/lb, up +$0.0265 (+0.44%) day-over-day. Previous close: $6.00/lb.
• 5-day trend: ↑ 5 of last 5 sessions.

Copper climbed about 3 cents to $6.02 per pound, marking five straight sessions of gains as industrial demand signals strengthen across North America. The steady upward trend contradicts my earlier prediction that elevated levels wouldn't hold, suggesting underlying fundamentals remain solid despite oil's pullback from recent highs above $102. Toronto and Montreal scrap dealers should find good buyer interest for #1 and #2 copper, while bare bright and copper wire sellers in Vancouver and Calgary can capitalize on the momentum that's pushed prices up nearly 5% from recent lows.

Aluminum — Current Indicators

• LME Aluminum: $3,557/tonne ($1.61/lb), down $0.0315 (-1.91%) day-over-day. Previous close: $1.65/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum dropped 3 cents to $1.61 per pound as scrap sellers face a modest pullback from recent strong levels. The decline follows three positive sessions in the past five days, suggesting buyers are taking profits after aluminum's solid run higher. Cast and sheet aluminum sellers in Toronto and Vancouver should view this as a normal correction rather than a trend reversal, especially with energy-intensive primary production costs keeping scrap values attractive for recyclers across Canada.

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.