SMASH Recycling Morning Metals Report – April 16, 2026

Prices as of April 16, 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.

Jump to:

• Gold — $4,811/oz ▲
• Silver — $79.26/oz ▲
• PGMs — Rh ▸ $9,950 · Pt ▲ $2,134 · Pd ▲ $1,562
• Copper — $6.07/lb ▼
• Aluminum — $1.65/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3746

SMASH Recycling Takeaways for Today

• Gold & Silver — Hold gold at $4,811/oz despite the small $7 gain. Silver at $79.26/oz is barely up less than a cent but maintains momentum from recent weeks. Toronto and Montreal dealers should wait for clearer direction before major moves.
• PGMs — Sell platinum now at $2,134/oz (up $22) and palladium at $1,562/oz (up $16). Both metals gained over 1% today. Vancouver and Calgary auto recyclers should capitalize on this strength before automotive demand signals weaken.
• Copper — Hold copper at $6.07/lb as prices dipped less than a cent. Hamilton and Winnipeg yards should wait for the recent rally to stabilize before listing heavy tonnage. Supply disruptions still support higher levels.
• Aluminum — List aluminum immediately at $1.65/lb (up less than a cent). Ottawa and Edmonton recyclers should take advantage of steady infrastructure demand driving the 0.52% gain. Energy cost pressures favor scrap over primary production.
• Big Picture — Mixed signals with 4 metals higher today, suggesting caution until clearer trends emerge across the complex.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $95.73/bbl, up $0.9200 (+0.97%) day-over-day.

Oil's 92 cent surge reflects renewed concerns over Middle East supply disruptions, particularly around the Strait of Hormuz shipping lanes that handle nearly 20% of global petroleum flows. This energy spike directly pressures Canadian scrap yards from Vancouver to Montreal, as higher diesel costs eat into already thin transportation margins. The stronger energy complex also signals potential industrial demand recovery, which typically benefits base metal scrap values within 2-4 weeks.

The macro backdrop shows mixed signals for scrap dealers across Toronto, Calgary, and Hamilton markets. While higher oil costs create near-term margin pressure, the underlying driver—geopolitical supply concerns—often translates into safe-haven demand for precious metal scrap and increased industrial stockpiling. Recent tomato price spikes from trade tensions highlight how quickly supply chain disruptions can ripple through commodity markets. Canadian auto recyclers in Edmonton and Winnipeg should monitor whether this energy rally sustains, as persistent higher fuel costs could slow scrap collection routes while boosting the relative value of locally-sourced material.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,811/oz, up +$7.15 (+0.15%) day-over-day. Previous close: $4,804/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold edged up seven dollars to $4,811 per ounce as Middle East tensions continue supporting safe-haven demand. Toronto and Vancouver scrap dealers should note this modest gain comes after recent volatility, with the precious metal holding above the key $4,800 level that has provided technical support. The ongoing energy crisis affecting Canadian transportation costs is also driving some investors toward gold as a hedge against broader economic disruption.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $79.26/oz, up +$0.0065 (+0.01%) day-over-day. Previous close: $79.25/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 60.7:1.

Silver barely moved today, gaining less than a penny to reach $79.26 per ounce. The tiny gain follows strong momentum I noted yesterday, with silver up in three of the last five sessions. The gold-to-silver ratio sits at 60.7 to 1, suggesting silver remains relatively affordable compared to gold for Toronto electronics recyclers and Montreal industrial scrap dealers looking to diversify their precious metals mix.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,134/oz, up +$22.00 (+1.04%) day-over-day. Previous close: $2,112/oz. MoM: +0.6%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,562/oz, up +$16.00 (+1.03%) day-over-day. Previous close: $1,546/oz. MoM: -1.2%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,950/oz, flat day-over-day. Previous close: $9,950/oz. MoM: -12.7%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

Platinum and palladium both gained over $20 today, continuing their recent strength as automotive demand shows signs of recovery. Platinum rose $22 to reach $2,134 per ounce while palladium added $16 to hit $1,562, with both metals building on positive momentum from recent sessions. Rhodium held steady at $9,950 as the market consolidates after recent volatility. Toronto and Vancouver auto recyclers should note that catalyst processors are showing renewed interest as vehicle production ramps up, though higher diesel costs from oil's surge to $95.73 per barrel are squeezing transportation margins across Canadian scrap operations.

Copper — Current Indicators

• COMEX/Spot Copper: $6.07/lb, down $0.0045 (-0.07%) day-over-day. Previous close: $6.08/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper fell just under a penny to $6.07 per pound as energy costs continue pressuring Canadian scrap yards from Vancouver to Montreal. Despite oil surging 92 cents today on Middle East supply concerns, copper's minor decline suggests the market is pausing after recent strong gains rather than breaking down. Toronto and Calgary dealers handling #1 and #2 copper should watch for stabilization around current levels, as transportation cost pressures from higher diesel prices may offset some of the underlying industrial demand that has supported copper's recent rally.

Aluminum — Current Indicators

• LME Aluminum: $3,639/tonne ($1.65/lb), up +$0.0085 (+0.52%) day-over-day. Previous close: $1.64/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum prices edged up less than a cent to $1.65 per pound, continuing the steady climb that Toronto and Vancouver yards have seen over recent weeks. The small gain reflects how higher diesel costs from oil's surge are being offset by solid demand from infrastructure projects across Ontario and British Columbia. Cast aluminum sellers in Montreal and Calgary should note that energy-intensive primary production remains expensive, keeping scrap values attractive to buyers. Sheet and extrusion processors from Hamilton to Edmonton are benefiting from this dynamic as manufacturing costs favor recycled material over virgin aluminum.

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.