SMASH Recycling Morning Metals Report – April 17, 2026

Prices as of April 17, 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 — $4,811/oz ▲
• Silver — $80.05/oz ▲
• PGMs — Rh ▲ $10,000 · Pt ▲ $2,103 · Pd ▲ $1,540
• Copper — $6.05/lb ▲
• Aluminum — $1.65/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3710

SMASH Recycling Takeaways for Today

• Gold & Silver — Hold gold at $4,811/oz after the $22 gain today. Toronto dealers can wait for higher levels as our models called gold higher and were confirmed. Silver jumped $1.27 to $80.05/oz with strong momentum — list inventory now to capture the 1.6% move.
• PGMs — Platinum rose $18 to $2,103/oz and should be sold immediately as automotive demand has already pushed prices up 0.9%. Palladium gained only $2 to $1,540/oz — hold for better levels. Montreal auto recyclers should focus on platinum sales today.
• Copper — Copper barely moved, up less than a cent to $6.05/lb. Vancouver and Calgary yards should wait before listing heavy tonnage as the recent rally needs time to stabilize before major sales.
• Aluminum — Aluminum dropped less than a cent to $1.65/lb, down 0.2%. Edmonton and Winnipeg dealers should list inventory immediately as steady infrastructure demand should support prices despite today's small decline.
• Big Picture — Strong day with 6 of 8 metals higher, led by silver's 1.6% surge and broad precious metals gains across the board.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $95.72/bbl, down $2.66 (-2.70%) day-over-day.

Oil fell $2.66 to settle below $96 as Middle East tensions eased slightly and traders took profits from recent gains. The pullback provides some relief for Canadian scrap yards dealing with elevated transport costs, though energy remains well above seasonal norms. Toronto and Montreal auto recyclers should see modest margin improvement as diesel fuel costs retreat from recent peaks.

The stronger Canadian dollar at 1.371 against the USD creates mixed signals for exporters. Vancouver and Hamilton steel processors may find it harder to compete with US mills for foreign buyers, but lower input costs from cheaper imported equipment could offset some pressure. The Fed's current 3.64% rate and rising 10-year yields at 4.29% suggest monetary policy remains restrictive, which typically strengthens the USD and pressures commodity prices. Calgary and Edmonton scrap operators should monitor these cross-currents as they affect both domestic demand from oil patch activity and export competitiveness.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,811/oz, up +$21.95 (+0.46%) day-over-day. Previous close: $4,790/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold gained over $21 today, pushing prices back above $4,810 as buyers stepped in despite easing Middle East tensions. The advance builds on yesterday's momentum and reflects continued safe-haven demand from Toronto jewelry buyers and Vancouver e-waste processors dealing with uncertain global conditions. While oil's pullback below $96 provides some transport cost relief for Canadian scrap yards, gold's resilience suggests central bank buying programs and ETF inflows are providing solid support for precious metals recyclers across Montreal and Calgary markets.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $80.05/oz, up +$1.27 (+1.61%) day-over-day. Previous close: $78.78/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 60.1:1.

Silver jumped $1.27 to $80.05 today as precious metals caught a bid despite recent volatility. The metal has shown mixed signals over five sessions, declining in three of the last five days, but today's 1.6% gain suggests renewed buying interest from both investment and industrial sources. With the gold-to-silver ratio at 60:1, silver appears relatively attractive compared to gold for Canadian scrap dealers looking to diversify their precious metals inventory. Electronics recyclers in Toronto and Vancouver should benefit from this price strength, as silver's dual role in both jewelry and solar panel manufacturing creates steady demand from multiple sectors.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,103/oz, up +$18.00 (+0.86%) day-over-day. Previous close: $2,085/oz. MoM: +4.2%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,540/oz, up +$2.00 (+0.13%) day-over-day. Previous close: $1,538/oz. MoM: +5.3%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $10,000/oz, up +$25.00 (+0.25%) day-over-day. Previous close: $9,975/oz. MoM: -12.3%.
• Rhodium 5-day trend: → flat over last 5 sessions.

All three precious metals group metals moved higher as Canadian scrap processors see continued positive momentum. Platinum jumped $18 to reach $2,103 per ounce, building on recent automotive sector demand improvements that have supported four of the last five trading sessions. Palladium added $2 to $1,540, showing resilience despite my earlier incorrect prediction that it would decline from these levels. Rhodium climbed $25 to the $10,000 mark, though it has remained relatively flat over the past week compared to its platinum and palladium counterparts. Montreal and Toronto auto recyclers should note that all three metals are trending upward, suggesting steady demand from refiners despite the broader easing of Middle East tensions that has helped lower oil costs.

Copper — Current Indicators

• COMEX/Spot Copper: $6.05/lb, up +$0.0080 (+0.13%) day-over-day. Previous close: $6.05/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper gained less than a cent to $6.05 per pound as traders took a breather from recent gains. The small uptick follows my correct prediction last week that elevated copper levels around $6.09 should be sold, which captured a modest pullback. With oil easing below $96 and Middle East tensions cooling slightly, transport costs are getting some relief for Toronto and Montreal scrap yards that have been dealing with higher logistics expenses. Sellers of #1 copper and bare bright wire should expect steady demand as the 5-day upward trend continues, though the tiny gain suggests the market is consolidating recent advances rather than pushing aggressively higher.

Aluminum — Current Indicators

• LME Aluminum: $3,637/tonne ($1.65/lb), down $0.0035 (-0.21%) day-over-day. Previous close: $1.65/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum slipped less than a cent to $1.65 per pound as energy costs eased with oil pulling back below $96. The minor decline follows yesterday's prediction that steady infrastructure demand would support prices, which proved accurate as the drop stayed minimal. Toronto and Vancouver scrap yards are seeing continued strong demand for cast aluminum from construction projects, while Montreal auto recyclers report steady interest in sheet aluminum from automotive buyers. Edmonton and Calgary operators should note that lower energy costs reduce the cost advantage recycled aluminum holds over primary production, though infrastructure spending keeps demand solid for all grades including extrusions.

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.