SMASH Recycling Morning Metals Report – April 23, 2026

Prices as of April 23, 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 — $4,725/oz ▼
• Silver — $76.69/oz ▼
• PGMs — Rh ▸ $10,150 · Pt ▼ $2,025 · Pd ▼ $1,472
• Copper — $6.07/lb ▼
• Aluminum — $1.63/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3662

SMASH Recycling Takeaways for Today

• Gold & Silver — Sell into weakness. Both metals down today (gold -0.25%, silver -1.20%), confirming yesterday's profit-taking prediction.[3] This reversal after the recent rally validates the technical exhaustion signals we flagged. Lock in gains if you're holding.
• PGMs — Palladium is the weak link. Platinum and palladium both fell sharply (platinum -2.17%, palladium -3.79%), though automotive demand for catalytic converters remains solid.[3] Consider selling palladium on strength; platinum may stabilize faster given converter pricing support.
• Copper — Hold for now, don't panic. Down just 1.01% today, but copper has seen extreme volatility in 2026 with $0.50+ swings in single sessions.[3] Analyst forecasts range from $5.00 to $7.00/lb. We recommended selling on Feb 4; reassess if prices spike above $6.30/lb.
• Aluminum — Infrastructure demand still working. Only -0.87% despite broader weakness. Our April 15 prediction of steady infrastructure support proved correct.[3] This metal is outperforming—hold unless you need immediate cash.
• Big Picture — Risk-off day across all 8 metals; six lower, two flat. This is correction pressure, not a crash, so don't rush sales unless you hit personal price targets.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $96.29/bbl, down $5.19 (-5.11%) day-over-day.

**Macro Backdrop — Energy and Risk**

Brent crude oil fell to $96.29 per barrel, down $5.19 or 5.11% today. This pullback eases some pressure on scrap metal costs after recent highs tied to U.S.-Iran tensions and the Strait of Hormuz closure.[3][5] Lower oil may help margins for processors, but watch for rebound risks from supply fears.[1]

The USD/CAD rate sits at 1.3662, supporting cross-border scrap flows into the U.S. Key macro signals show steady inflation expectations at 2.38% and Fed rate at 3.64%, with 10-year yields up to 4.30% adding mild risk-off tone. Gold and silver gains signal safe-haven buying amid tokenized assets buzz, while North American and Chinese scrap prices rose yesterday—keeping metals outlook firm despite energy dip.[2][Recent headlines]

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,725/oz, down $11.88 (-0.25%) day-over-day. Previous close: $4,737/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

**Gold** fell to **$4,725 per ounce** today, down $11.88 or 0.25%.[data] This small drop follows profit-taking after recent gains, with prices up in 3 of the last 5 sessions.[data][memory] Scrap sellers and recyclers can still cash in on strong demand, as lower oil at **$96.29 per barrel** cuts costs and boosts margins amid easing tensions.[macro]

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $76.69/oz, down $0.9280 (-1.20%) day-over-day. Previous close: $77.61/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 61.6:1.

Silver spot price fell to **$76.69 per ounce**, down 93 cents or 1.20% today after dropping in 3 of the last 5 sessions. Lower **Brent crude oil at $96.29 per barrel** eases fuel costs for scrap haulers and refiners, helping margins amid refining backlogs that slow junk silver buys. Hold scrap for now as the gold-silver ratio at 61.6:1 hints at silver value, but watch for steady industrial demand from solar and EVs to lift prices later.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,025/oz, down $45.00 (-2.17%) day-over-day. Previous close: $2,070/oz. MoM: +5.0%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,472/oz, down $58.00 (-3.79%) day-over-day. Previous close: $1,530/oz. MoM: +3.9%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $10,150/oz, flat day-over-day. Previous close: $10,150/oz. MoM: -4.2%.
• Rhodium 5-day trend: ↑ 2 of last 5 sessions.

**PGM prices fell today**, with platinum down $45 to $2,025/oz and palladium down $58 to $1,472/oz, while rhodium stayed flat at $10,150/oz. Lower Brent crude oil at $96.29/bbl eases costs for scrap sellers after recent high prices from tensions. Hold scrap if possible, as forecasts show rising recycling supply in 2025 from better economics.[2][6]

Copper — Current Indicators

• COMEX/Spot Copper: $6.07/lb, down $0.0620 (-1.01%) day-over-day. Previous close: $6.13/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

**Copper** scrap prices fell to $6.07 per pound today, down 6 cents or 1.01% from yesterday. The metal dropped in 3 of the last 5 sessions as **Brent crude oil** eased to $96.29 per barrel, cutting some cost pressures after U.S.-Iran tensions. Scrap sellers should hold steady for now, as long-term demand from green tech and supply gaps points to higher prices ahead.[1][5][6]

Aluminum — Current Indicators

• LME Aluminum: $3,597/tonne ($1.63/lb), down $0.0143 (-0.87%) day-over-day. Previous close: $1.65/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Aluminum scrap prices fell to $1.63 per pound today, down about 1 cent or 0.87%. This drop matches the 5-day trend of lower prices in 4 out of 5 sessions, helped by Brent crude oil easing to $96.29 per barrel amid reduced tensions. Scrap sellers should hold steady as long-term demand from recycling and industries like autos stays strong.[1][2][8]

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.