SMASH Recycling Morning Metals Report – April 28, 2026

Prices as of April 28, 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 — $4,581/oz ▼
• Silver — $73.08/oz ▼
• PGMs — Rh ▸ $10,000 · Pt ▼ $1,917 · Pd ▼ $1,427
• Copper — $5.89/lb ▼
• Aluminum — $1.60/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3615

SMASH Recycling Takeaways for Today

• Gold & Silver — Hold scrap gold and silver; both down over 2% today—my rebound predictions were wrong, so wait for stabilization before selling.
• PGMs — Sell platinum and palladium scrap now; prices dropped 3%+ with rebound signs in converters, but lock in gains amid volatility.
• Copper — Price fell 2% to $5.89/lb—sort and store clean copper scrap, as global shortages may push prices back up despite pullback risk.
• Aluminum — Down 1% to $1.60/lb—avoid selling aluminum scrap today; demand from EVs and projects could lift prices soon.
• Big Picture — 0 of 8 metals higher, 6 lower—prioritize cash flow by selling only high-demand PGMs, hold the rest in this broad down market.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $105.21/bbl, up $3.60 (+3.54%) day-over-day.

**Macro Backdrop — Energy and Risk**

Brent crude oil jumped to $105.21 per barrel, up $3.60 or 3.54% today. This rise ties to the closed Strait of Hormuz from stalled US-Iran talks, which cuts global oil supplies and lifts energy costs.[2][3] Higher oil prices boost scrap metal demand from refiners and add risk to transport costs for sellers.

The Dollar Index fell to 90.82, while 10-year yields eased to 4.31% and inflation expectations ticked up to 2.44%.[1] Auto production dropped to 102.63, signaling weaker demand ahead. Nickel hit a two-year high on tight Indonesian supplies, but watch gold and copper for pullbacks after recent wrong calls on rebounds.[recent news]

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,581/oz, down $109.49 (-2.33%) day-over-day. Previous close: $4,690/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

**Gold** fell to **$4,581 per ounce** today, down **$109** or **2.33%**, with prices dropping in 3 of the last 5 sessions. Higher **Brent crude oil** at **$105.21 per barrel** from closed Strait of Hormuz boosts scrap metal demand at refineries but raises transport costs for sellers. Hold scrap gold for now as the market slides despite strong long-term recycling growth.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $73.08/oz, down $2.79 (-3.68%) day-over-day. Previous close: $75.87/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 62.7:1.

**Silver** spot price fell to **$73.08 per ounce**, down $2.79 or 3.68% today. Higher **Brent crude oil** at $105.21 per barrel from Strait of Hormuz issues raises energy costs and transport risks for scrap sellers, even as silver rose in 3 of the last 5 sessions with a gold ratio of 62.7:1[1]. Hold scrap silver for now amid refining backlogs slowing buys[4][5].

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,917/oz, down $72.00 (-3.62%) day-over-day. Previous close: $1,989/oz. MoM: +2.9%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,427/oz, down $32.00 (-2.19%) day-over-day. Previous close: $1,459/oz. MoM: +4.7%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $10,000/oz, flat day-over-day. Previous close: $10,000/oz. MoM: -7.4%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

PGM prices dropped today—platinum fell 3.62% and palladium slipped 2.19%—but the longer-term trend still favors scrap sellers.[3] Higher PGM prices throughout 2025 have made recycling more profitable, so scrapyards are selling more converters instead of hoarding them like they did from 2022 to 2024 when prices were weak.[3] If you're holding converters, current price weakness appears temporary; stick with your selling strategy rather than waiting for the peak prices of 2021 that likely won't return.[1]

Copper — Current Indicators

• COMEX/Spot Copper: $5.89/lb, down $0.1380 (-2.29%) day-over-day. Previous close: $6.03/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

**Copper prices fell to $5.89 per pound today, down 14 cents or 2.29%.** This drop happened in 4 of the last 5 trading days as fears of slower growth from the Iran conflict hurt demand hopes.[8][9] Higher Brent crude oil at $105.21 per barrel may lift scrap needs from refiners soon, but hold off selling for now.

Aluminum — Current Indicators

• LME Aluminum: $3,535/tonne ($1.60/lb), down $0.0208 (-1.28%) day-over-day. Previous close: $1.62/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Aluminum scrap prices fell to $1.60 per pound today, down about 2 cents or 1.28% from yesterday, with prices dropping in 4 of the last 5 days. Even as Brent crude oil jumped to $105.21 per barrel due to the closed Strait of Hormuz, higher energy costs have not yet lifted aluminum demand from refiners enough to stop the slide. Scrap sellers should hold tight and watch for industrial buying to pick up.

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.