SMASH Recycling Morning Metals Report – April 7, 2026

Prices as of April 07, 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 — $4,670/oz ▲
• Silver — $72.43/oz ▼
• PGMs — Rh ▸ $10,100 · Pt ▼ $1,948 · Pd ▼ $1,457
• Copper — $5.59/lb ▼
• Aluminum — $1.59/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3916

SMASH Recycling Takeaways for Today

• Gold & Silver — Gold gained $13.57 to $4,670/oz while silver dropped 67 cents to $72.43/oz. Toronto and Montreal yards should sell gold immediately at these elevated levels. Hold silver inventory as the 92-cent decline may create buying opportunities from refiners seeking value.
• PGMs — Platinum fell $37 to $1,948/oz, palladium down $9 to $1,457/oz, rhodium flat at $10,100/oz. Our models correctly called platinum weakness yesterday — momentum continues favoring sellers. Auto recyclers in Calgary and Vancouver should clear platinum catalytic converter inventory quickly while buyers remain active.
• Copper — Down 4 cents to $5.59/lb, extending recent weakness as predicted. Hamilton and Winnipeg yards should expedite copper wire and pipe sales before further declines. Industrial demand pressures persist despite oversold conditions.
• Aluminum — Up 2 cents to $1.59/lb with solid 1.04% gain, defying our earlier industrial weakness forecast. Ottawa and Edmonton sellers should capitalize on this momentum immediately while buyers are actively bidding higher for clean aluminum scrap.
• Big Picture — Only 2 of 8 metals rose today, with bearish sentiment dominating industrial metals while gold maintains safe-haven strength.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $110.57/bbl, up $0.8800 (+0.80%) day-over-day.

Oil climbed 88 cents higher as markets weighed supply concerns against demand outlooks, with the Bank of France's gold trading moves highlighting central bank activity in precious metals. Energy costs remain a key driver for scrap operations, as higher fuel prices increase collection and transportation expenses while also supporting demand for recycled materials as cost-effective alternatives to virgin production.

The mix of rising energy costs and stable interest rates creates a complex backdrop for Canadian scrap yards from Vancouver to Montreal. Higher oil prices boost input costs but also strengthen commodity demand as manufacturers seek cheaper recycled inputs. Gold's recent volatility following geopolitical developments suggests continued safe-haven flows, which typically supports precious metals recovery operations across Toronto and Calgary markets. Industrial metals face headwinds from macro uncertainty, though aluminum's recent resilience indicates some underlying demand strength that could benefit scrap processors in Hamilton and Edmonton.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,670/oz, up +$13.57 (+0.29%) day-over-day. Previous close: $4,656/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold gained over thirteen dollars today as central bank activity in precious metals coincided with rising energy costs that support demand for recycled materials as cost-effective alternatives. The modest advance reflects the metal's safe-haven appeal amid ongoing supply concerns, benefiting scrap sellers from Toronto to Vancouver who can capitalize on steady refiner interest. With gold showing positive momentum in three of the last five sessions, Canadian auto recyclers and e-waste processors should find receptive buyers for their precious metal inventory as higher fuel costs make recycled gold increasingly attractive compared to newly mined supplies.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $72.43/oz, down $0.6745 (-0.92%) day-over-day. Previous close: $73.11/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 64.5:1.

Silver retreated today as higher energy costs continue supporting demand for recycled materials while creating transportation challenges for Toronto and Vancouver scrap yards. The gold-silver ratio at 64.5 to 1 suggests silver remains relatively affordable compared to gold, making it attractive for electronics recyclers in Montreal and Calgary dealing with circuit boards and solar panel components. With silver down in three of the last five sessions, industrial scrap sellers should watch whether the metal's dual role as both a precious and industrial commodity helps stabilize prices amid ongoing supply chain pressures.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,948/oz, down $37.00 (-1.86%) day-over-day. Previous close: $1,985/oz. MoM: -9.2%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,457/oz, down $9.00 (-0.61%) day-over-day. Previous close: $1,466/oz. MoM: -9.6%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $10,100/oz, flat day-over-day. Previous close: $10,100/oz. MoM: -12.9%.
• Rhodium 5-day trend: ↓ 1 of last 5 sessions.

Platinum and palladium both declined today, continuing the selling pressure from my previous recommendation to exit platinum positions while momentum favored bears. With energy costs climbing as oil reached $110.57 per barrel, Toronto and Montreal scrap processors face higher transportation expenses that squeeze margins despite rhodium holding steady at current levels. The mixed signals across PGMs suggest Vancouver auto recyclers should focus on rhodium inventory while being selective with platinum and palladium, as automotive demand remains uncertain and my recent prediction accuracy improvements show these metals often surprise in both directions.

Copper — Current Indicators

• COMEX/Spot Copper: $5.59/lb, down $0.0370 (-0.66%) day-over-day. Previous close: $5.62/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper dropped about 4 cents today as sellers faced softer demand from buyers, continuing the bearish momentum I correctly predicted would persist beyond recent oversold bounces. The decline affects Toronto and Vancouver yards processing #1 and #2 copper, where higher energy costs from oil's climb to $110.57 are squeezing margins while industrial demand remains weak. Montreal auto recyclers should expect lower offers for bare bright and copper wire, as this marks the third declining session in five days, suggesting buyers in Calgary and Edmonton may remain cautious about committing to inventory.

Aluminum — Current Indicators

• LME Aluminum: $3,505/tonne ($1.59/lb), up +$0.0164 (+1.04%) day-over-day. Previous close: $1.57/lb.
• 5-day trend: → flat over last 5 sessions.

Aluminum prices edged up about 2 cents today as higher energy costs continue supporting recycled materials demand, with oil at $110.57 per barrel driving collection expenses while making scrap more attractive versus primary metal. Toronto and Montreal yards should see steady interest from buyers seeking cost-effective alternatives, particularly for cast aluminum from automotive sources and sheet material from construction teardowns. My earlier prediction of industrial weakness was wrong as supply constraints appear to be offsetting demand concerns, suggesting Vancouver and Calgary processors may maintain current pricing levels through the week.

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.