SMASH Recycling Morning Metals Report – April 8, 2026

Prices as of April 08, 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 — $4,777/oz ▲
• Silver — $76.79/oz ▲
• PGMs — Rh ▸ $10,100 · Pt ▲ $2,062 · Pd ▲ $1,577
• Copper — $5.77/lb ▲
• Aluminum — $1.57/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3907

SMASH Recycling Takeaways for Today

• Gold & Silver — Lock in precious metals immediately at gold $4,777/oz (+$44) and silver $76.79/oz (+$2.96). These +0.92% and +4.01% gains create excellent selling opportunities for Toronto and Vancouver yards before any potential pullback.
• PGMs — Sell palladium aggressively at $1,577/oz (+$116, up 7.94%) to automotive recyclers in Hamilton and Montreal. Platinum at $2,062/oz (+$92, up 4.67%) also favors sellers. Only rhodium stays flat at $10,100/oz — our models correctly predicted this consolidation.
• Copper — Move copper inventory quickly at $5.77/lb (+13 cents, up 2.26%). Calgary and Edmonton industrial buyers are active. This reverses yesterday's weakness and creates a strong selling window for wire and pipe scrap.
• Aluminum — Hold aluminum briefly despite minor slip to $1.57/lb (down less than a cent, -0.17%). The decline is minimal and Winnipeg processors remain steady on pricing. Wait for clearer direction before major moves.
• Big Picture — Strong momentum with 5 of 8 metals higher today favors sellers across most scrap categories, especially precious metals and copper showing the strongest gains.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $92.18/bbl, down $11.10 (-10.75%) day-over-day.

Oil's sharp $11.10 drop reflects growing concerns about global demand as economic data from major economies shows mixed signals. The selloff accelerates pressure on energy-intensive scrap operations across Canada, particularly affecting aluminum recycling facilities in Hamilton and Vancouver that rely heavily on cheap power. With the Fed holding rates steady at 3.64% and inflation still elevated, scrap yard operators from Toronto to Calgary face a challenging backdrop of high borrowing costs combined with volatile energy inputs.

The weaker U.S. dollar helps Canadian exporters compete for overseas scrap contracts, but rising consumer prices continue squeezing industrial buyers' margins. Recent headlines about U.S.-Iran ceasefire developments and stable copper pricing suggest some market stabilization, though auto recyclers in Montreal and Edmonton should prepare for continued volatility in catalyst metal values. Energy cost relief from today's oil decline may take several weeks to flow through to transportation and processing expenses, meaning immediate scrap pricing adjustments remain limited despite the crude pullback.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,777/oz, up +$43.68 (+0.92%) day-over-day. Previous close: $4,733/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold's strong gain today reflects continued safe-haven demand as global economic uncertainties persist, with the precious metal extending its recent upward momentum despite oil's sharp decline weighing on energy-intensive operations. For Canadian scrap sellers in Toronto and Vancouver, this rally creates favorable conditions for moving jewelry lots and electronic waste containing gold components, as buyers remain willing to pay premium prices amid ongoing geopolitical tensions and central bank purchasing. However, scrap processors should monitor how oil's weakness affects overall industrial demand, as the divergence between precious metals strength and energy sector pressures may signal broader economic crosscurrents ahead.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $76.79/oz, up +$2.96 (+4.01%) day-over-day. Previous close: $73.83/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 62.2:1.

Silver jumped nearly $3 per ounce today as falling oil costs ease pressure on energy-intensive recycling operations across Canada. The metal's strong rally brings the gold-silver ratio down to 62:1, suggesting silver may be catching up after lagging behind gold recently. Electronics recyclers in Toronto and Vancouver should see improved margins, while solar panel scrap processors benefit from silver's dual role as both a precious metal safe haven and critical industrial input – though sellers should watch whether this momentum continues given silver's recent volatility patterns.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,062/oz, up +$92.00 (+4.67%) day-over-day. Previous close: $1,970/oz. MoM: -4.8%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,577/oz, up +$116.00 (+7.94%) day-over-day. Previous close: $1,461/oz. MoM: -5.6%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $10,100/oz, flat day-over-day. Previous close: $10,100/oz. MoM: -13.3%.
• Rhodium 5-day trend: ↓ 1 of last 5 sessions.

Precious metals delivered strong gains today as platinum and palladium both surged on supply concerns, with platinum adding over $90 and palladium jumping more than $116. This continues palladium's recovery from recent weakness, though rhodium held steady at current levels. Canadian auto recyclers and catalytic converter processors should see improved pricing on their platinum-group material, particularly in Toronto and Vancouver markets where buyer activity has picked up alongside these price moves.

Copper — Current Indicators

• COMEX/Spot Copper: $5.77/lb, up +$0.1275 (+2.26%) day-over-day. Previous close: $5.64/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper gained about 13 cents today, breaking its recent downtrend as buyers returned to the market despite ongoing pressure from sharply lower oil prices. Toronto and Montreal yards should see improved pricing for #1 and #2 copper, while bare bright and copper wire sellers in Vancouver and Calgary can expect stronger offers as this 2.26% jump suggests industrial demand may be stabilizing after weeks of weakness. However, scrap processors should remain cautious since energy-intensive operations are still feeling pressure from the broader commodity selloff, and copper's recovery needs to hold above current levels to confirm the downtrend reversal I've been tracking.

Aluminum — Current Indicators

• LME Aluminum: $3,459/tonne ($1.57/lb), down $0.0026 (-0.17%) day-over-day. Previous close: $1.57/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum prices slipped less than a cent today as oil's sharp drop continues pressuring energy-intensive recycling operations across Canada. The decline affects cast, sheet, and extrusion sellers equally, with Hamilton and Vancouver facilities particularly squeezed by rising power costs despite cheaper crude. Toronto and Montreal yards should watch for further softness as aluminum has dropped in three of the last five sessions, suggesting buyers may wait for clearer direction before committing to larger lots.

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).

⚠️ Note: Palladium (7.9%) show unusually large day-over-day moves. Illiquid markets (e.g. rhodium) can have wide bid-ask spreads; verify with multiple sources before acting.

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.