SMASH Recycling Morning Metals Report – March 10, 2026

Prices as of March 10, 2026 at 12:00 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 — $5,177/oz ▲
• Silver — $88.35/oz ▲
• PGMs — Rh ▸ $11,650 · Pt ▲ $2,197 · Pd ▲ $1,673
• Copper — $5.90/lb ▲
• Aluminum — $1.52/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3574

SMASH Recycling Takeaways for Today

• Gold & Silver — Strong day with gold up $49 to $5,177/oz and silver gaining $1.26 to $88.35/oz — sell premium jewelry and dental scrap now while both metals are climbing, especially in Toronto and Vancouver markets where demand is high.
• PGMs — Platinum surged $31 to $2,197/oz and palladium added $2 to $1,673/oz while rhodium held flat at $11,650/oz — our models called palladium higher but were wrong, so take advantage of today's surprise gains and move catalytic converters quickly across Montreal and Calgary yards.
• Copper — Minimal movement with just a fraction of a cent gain to $5.90/lb — hold off selling bare bright and #1 copper wire for now as this sideways action suggests bigger moves coming soon.
• Aluminum — Down about 2 cents to $1.52/lb, giving back Friday's 2% surge — list clean aluminum siding and car parts on SMASH Recycling immediately before further weakness hits Hamilton and Winnipeg scrap yards.
• Big Picture — Six of seven metals moved higher today, signaling renewed strength after last week's mixed performance across Canadian markets.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $87.12/bbl, down $4.77 (-5.19%) day-over-day.

Oil prices pulled back sharply today, dropping $4.77 as geopolitical tensions in the Middle East showed signs of cooling despite ongoing regional conflicts. The decline comes after crude had surged above $105 earlier this week, with markets now reassessing the immediate supply risk. Lower energy costs typically reduce transportation expenses for Canadian scrap collectors, but the volatility creates uncertainty for yard operators in Toronto, Montreal, and Vancouver who need to price materials weeks ahead.

The broader macro picture shows mixed signals for metals demand. While inflation expectations ticked down slightly to 2.34%, the 10-year yield climbed to 4.15%, suggesting investors remain cautious about economic growth. Higher borrowing costs could weigh on construction and manufacturing activity across major Canadian markets like Calgary and Hamilton, potentially reducing demand for recycled steel and aluminum. However, the weaker U.S. dollar (down 0.32 in the index) may provide some support for commodity prices, helping offset concerns about industrial metals demand in the coming weeks.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $5,177/oz, up +$49.22 (+0.96%) day-over-day. Previous close: $5,128/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold gained ground today as rising tensions in the Middle East and oil prices climbing back to $100 per barrel boosted demand for the precious metal as a safe-haven asset. The move partially reversed Monday's decline and gives Canadian scrap sellers in Toronto, Vancouver, and other major markets better pricing for gold jewelry, electronics components, and dental scrap. With gold showing strength in three of the last five trading sessions, scrap dealers and e-waste recyclers should watch for continued geopolitical developments that could keep supporting prices.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $88.35/oz, up +$1.26 (+1.44%) day-over-day. Previous close: $87.09/oz.
• 5-day trend: ↑ 4 of last 5 sessions.
• Gold/Silver ratio: 58.6:1.

Silver gained over a dollar today, building on its recent upward momentum as it continues climbing from last week's levels around $82-83 per ounce. The gold-to-silver ratio at 58.6:1 suggests silver remains relatively affordable compared to gold, which could attract more buying interest from Toronto and Vancouver electronics recyclers processing old computers and industrial equipment. With silver serving both as a precious metal safe haven and a key industrial input for solar panels and electronics, Canadian scrap yards from Calgary to Montreal should watch for continued strength if global tensions keep supporting commodity prices.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,197/oz, up +$31.00 (+1.43%) day-over-day. Previous close: $2,166/oz.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,673/oz, up +$2.00 (+0.12%) day-over-day. Previous close: $1,671/oz.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $11,650/oz, flat day-over-day. Previous close: $11,650/oz.
• Rhodium 5-day trend: → flat over last 5 sessions.

Precious metals bounced back for Canadian scrap sellers after last week's selloff, with platinum and palladium both posting gains while rhodium held steady at elevated levels. The recovery in platinum and palladium suggests the recent pressure may be easing, though rhodium's flat performance shows the market remains cautious. Scrap yards from Vancouver to Halifax should watch oil prices, which hit $100 per barrel again, as this often signals broader economic shifts that can impact industrial demand for these metals.

Copper — Current Indicators

• COMEX/Spot Copper: $5.90/lb, up +$0.0040 (+0.07%) day-over-day. Previous close: $5.90/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Copper prices edged slightly higher, gaining less than a cent as the metal continues its recent upward momentum with gains in four of the last five trading sessions. The modest increase keeps copper near recent levels, which is positive news for Canadian scrap sellers from Toronto to Vancouver who deal in #1 and #2 copper, bare bright wire, and copper tubing. With oil prices climbing back toward $100 per barrel creating inflationary pressures across commodities, copper's steady performance suggests continued demand for industrial metals, making it a good time for auto recyclers and industrial sellers to move their copper inventory.

Aluminum — Current Indicators

• LME Aluminum: $3,342/tonne ($1.52/lb), down $0.0193 (-1.26%) day-over-day. Previous close: $1.54/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum prices slipped about two cents today, continuing a mostly downward trend that has seen declines in three of the last five sessions and partially reversing Friday's strong gains. This pullback affects Canadian scrap sellers from Vancouver to Halifax, with cast aluminum from auto recyclers and sheet metal from industrial operations in Toronto and Montreal facing slightly lower payouts. Sellers of extrusion scrap in Calgary and Edmonton should monitor whether this softening trend continues, as the recent volatility suggests aluminum markets remain unsettled heading into the rest of 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.