SMASH Recycling Morning Metals Report – July 23, 2026

Prices as of July 23, 2026 at 07:30 AM CDT.

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 — $4,073/oz ▼
• Silver — $58.21/oz ▼
• PGMs — Rh ▸ $8,200 · Pt ▼ $1,604 · Pd ▼ $1,241
• Copper — $6.45/lb ▼
• Aluminum — $1.44/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.4088

SMASH Recycling Takeaways for Today

• Gold & Silver — With both tapes down, don’t chase; move only clean, well-documented loads and hold marginal or mixed material for firmer pricing.
• PGMs — Rhodium is flat while Pt and Pd are off; prioritize pulling and selling higher-grade cats with strong rhodium/palladium content, and slow down on low-yield platinum-heavy loads unless you get strong bids.
• Copper — Market slipped about 3 cents; keep selling bare bright and #1 through competitive auctions, but park questionable or downgrade material instead of dumping it into a soft tape.
• Aluminum — Price is barely lower; use this stable range to bundle, sort, and photo-document auto, extrusion, and can aluminum so you’re ready to move bigger, tighter loads when buyers step back in.
• Big Picture — 0 of 8 metals higher, 6 lower, 2 flat — treat today as a price-check day: tighten grading, lean on competition, and avoid panic selling big tonnage.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $93.17/bbl, down $2.56 (-2.67%) day-over-day.

US Dollar Index (DXY): 101.32, up 0.33 (+0.33%) day-over-day.

**Energy is softer this morning, and that takes some heat out of the board.** Brent is down to **$93.17/bbl**, off **2.67%** on the day, while the **DXY** is firmer at **101.32** and **USD/CAD** sits at **1.4088**. Higher fuel and freight costs can support scrap flows in some spots, but a stronger dollar usually leans on commodity pricing and keeps buyers cautious.

Rates are still a headwind. The **10Y yield** is at **4.63%** and the **2Y** is **4.26%**, while inflation expectations sit at **2.28%**, leaving a real 10Y yield near **+2.35%**. That is not a friendly setup for metals or miners. It keeps risk appetite tight and makes the market pickier on marginal tons.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,073/oz, down $48.50 (-1.18%) day-over-day. Previous close: $4,121/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

**Gold is softer at $4,073/oz, down $48.50 today, but the trend is still mixed with 3 of the last 5 sessions higher.** For scrap sellers and recyclers, that means the tape is still active, but the firmer dollar and softer energy are taking some heat out of the board.[1][2]

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $58.21/oz, down $1.17 (-1.97%) day-over-day. Previous close: $59.38/oz.
• 5-day trend: ↑ 4 of last 5 sessions.
• Gold/Silver ratio: 70.0:1.

**Silver’s still high, but today it’s giving a bit back.** Spot sits around **$58.21/oz**, down **1.97%** on the day, but it’s been **up in 4 of the last 5 sessions**, so the tape is still firm overall. With **energy prices softer** and the **dollar a bit stronger**, you should expect some chop here, not a straight line up or down—use this dip to tighten your grading, photos, and documentation so you’re ready to move clean silver-bearing material when your local bids line up.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,604/oz, down $22.00 (-1.35%) day-over-day. Previous close: $1,626/oz. MoM: -3.1%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,241/oz, down $28.00 (-2.21%) day-over-day. Previous close: $1,269/oz. MoM: +2.0%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $8,200/oz, flat day-over-day. Previous close: $8,200/oz. MoM: +2.5%.
• Rhodium 5-day trend: → flat over last 5 sessions.

**PGM prices are taking a breather, so you need to be picky with what you move.** Platinum and palladium are both down today, with platinum off about 1% and palladium off a bit more, while rhodium is flat but still the expensive one in the basket. Brent crude and energy are softer and the dollar is firmer, so this isn’t a “rush to metals” tape — focus on well-graded cat loads, documented codes, and competitive auctions instead of dumping marginal material on a single bid.

Copper — Current Indicators

• COMEX/Spot Copper: $6.45/lb, down $0.0345 (-0.53%) day-over-day. Previous close: $6.48/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

**Copper’s softer again, so don’t chase weak bids on clean material.** Copper is around **$6.45/lb**, down about **3 cents** today, with prices lower in **3 of the last 5 sessions**.[1] Energy is softer and the U.S. dollar is firmer, so buyers may lean on that to push bids down — move mixed and questionable copper if you need the cash, but be picky with your bright and #1 until you see stronger prints.[2]

Aluminum — Current Indicators

• LME Aluminum: $3,183/tonne ($1.44/lb), down $0.0035 (-0.24%) day-over-day. Previous close: $1.45/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

**Aluminum is softer today at $1.44/lb, down less than a cent.** The tape is light, and 3 of the last 5 sessions have slipped. With energy softer and the dollar firmer, sellers should keep loads clean, documented, and ready for competition.

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.