SMASH Recycling Morning Metals Report – June 2, 2026

Prices as of June 02, 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.

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• Gold — $4,529/oz ▲
• Silver — $76.53/oz ▲
• PGMs — Rh ▼ $8,650 · Pt ▲ $1,954 · Pd ▲ $1,363
• Copper — $6.64/lb ▲
• Aluminum — $1.71/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3837

SMASH Recycling Takeaways for Today

• Gold & Silver — Both are up over 1%, so move clean gold and silver jewelry, coins, and bars today while buyers are paying up for shine.
• PGMs — Platinum and palladium are rising again; ship platinum/palladium-heavy cats now, but keep rhodium-rich pieces back as that price is slipping.
• Copper — With copper up about 8 cents and holding strong, push #1 bare bright, clean wire, and tube today, but keep low-grade, mixed copper for a better day.
• Aluminum — Aluminum is grinding higher again; use this uptick to clear sorted, clean extrusion, rims, and sheet instead of waiting for a big spike.
• Big Picture — 6 of 8 metals are higher and steel is flat, so lean toward selling strength across non‑ferrous while avoiding fire‑sale pricing on any weak spots.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $93.50/bbl, down $1.72 (-1.81%) day-over-day.

US Dollar Index (DXY): 99.07, up 0.05 (+0.05%) day-over-day.

Brent crude is trading near **$93.50**, down almost **2%**, easing some cost pressure for shred and freight. A softer oil tape, plus steady 10‑year yields around **4.45%**, keeps fuel costs high but not spiraling. The U.S. dollar is mixed: the **DXY is flat**, while **USD/CAD at 1.38** still favors U.S. buyers of Canadian scrap.

Macro risk is still two-sided. Inflation expectations are edging up to about **2.4%**, but the **Fed funds rate has ticked slightly lower**, hinting at a slow, cautious path on policy. Consumer sentiment is weak, yet **industrial and auto production are improving**, which supports metals demand. Real 10‑year yields above **2%** remain a headwind for gold and silver, but higher rates also signal confidence in growth, which is positive for base and ferrous over the medium term.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,529/oz, up +$46.04 (+1.03%) day-over-day. Previous close: $4,483/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold is trading around **$4,529/oz**, up about **1%** today, with gains in **3 of the last 5 sessions** signaling a firm, steady market for sellers.[1][6] With oil near **$93.50** and some cost pressure easing, scrapyards and recyclers may find it a good window to move high-grade gold-bearing material while prices are holding near the upper end of the recent range.[1][7]

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $76.53/oz, up +$1.58 (+2.11%) day-over-day. Previous close: $74.95/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 59.2:1.

Silver is trading around **$76.50/oz**, up a little over **2%** today, but it has fallen in **3 of the last 5 sessions**, so the short-term trend is still a bit soft. With the **gold/silver ratio near 59:1** and oil easing back around **$93.50**, scrap yards may see okay bids, but sellers should still expect buyers to stay selective on marginal silver-bearing material.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,954/oz, up +$31.00 (+1.61%) day-over-day. Previous close: $1,923/oz. MoM: -1.6%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,363/oz, up +$19.00 (+1.41%) day-over-day. Previous close: $1,344/oz. MoM: -9.7%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $8,650/oz, down $50.00 (-0.57%) day-over-day. Previous close: $8,700/oz. MoM: -13.9%.
• Rhodium 5-day trend: ↓ 5 of last 5 sessions.

Platinum and palladium are both **up today**, giving cat sellers a bit more support on the buy side, even though platinum has slipped in 3 of the last 5 sessions. Rhodium is **slightly weaker and still trending down**, so offers on high‑rhodium units may stay soft for now while lower oil prices around $93.50 help ease some freight and processing costs.

Copper — Current Indicators

• COMEX/Spot Copper: $6.64/lb, up +$0.0815 (+1.24%) day-over-day. Previous close: $6.56/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper is trading around **$6.64/lb**, up about **8 cents** today and higher in **3 of the last 5 sessions**, so the trend is still pointing up.[1] With Brent oil near **$93.50** and easing a bit, some yard and trucking costs are less of a drag, which can help scrap sellers keep more of that strong copper price in their pocket.

Aluminum — Current Indicators

• LME Aluminum: $3,767/tonne ($1.71/lb), up +$0.0160 (+0.95%) day-over-day. Previous close: $1.69/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum is trading around **$1.71 per pound**, about **2 cents higher** on the day, and has moved up in **4 of the last 5 sessions**, signaling steady strength for sellers. With Brent crude holding near **$93.50** and easing a bit, lower energy and freight pressure could help yards keep more margin even as they pay up slightly for clean aluminum scrap.

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.