SMASH Recycling Morning Metals Report – March 11, 2026

Prices as of March 11, 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 — $5,180/oz ▼
• Silver — $86.25/oz ▼
• PGMs — Rh ▸ $11,650 · Pt ▼ $2,162 · Pd ▼ $1,616
• Copper — $5.85/lb ▼
• Aluminum — $1.56/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3567

SMASH Recycling Takeaways for Today

• Gold & Silver — Both precious metals dropped today with gold down $7.40 to $5,180/oz and silver falling $2.45 to $86.25/oz. Our models called both higher but missed today's pullback. Hold off on selling gold scrap in Toronto and Vancouver yards — minor 0.14% dip suggests profit-taking rather than trend reversal.
• PGMs — Platinum and palladium both declined with platinum down $37 to $2,162/oz and palladium off $30 to $1,616/oz. Rhodium held flat at $11,650/oz. Our models expected platinum and palladium gains but were wrong today. Montreal and Calgary recyclers should wait — these 1-2% drops are likely temporary in strong PGM markets.
• Copper — Copper fell 7 cents to $5.85/lb, down 1.20% as our models predicted flat movement but missed the decline. Edmonton and Hamilton auto recyclers should hold copper inventory another day or two — this pullback creates better selling opportunities ahead.
• Aluminum — Only bright spot today with aluminum up 2 cents to $1.56/lb, gaining 1.20%. Winnipeg and Ottawa scrap yards should list aluminum inventory on SMASH Recycling now — capture this momentum while other metals struggle.
• Big Picture — Tough day with only 1 of 8 metals higher, suggesting broad selling pressure across Canadian scrap markets from Vancouver to Halifax.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $87.33/bbl, down $1.49 (-1.68%) day-over-day.

Oil fell on easing Middle East tensions despite ongoing concerns about supply disruptions from the war affecting global energy markets. The decline reflects traders taking profits after recent geopolitical premiums, but energy costs remain a key factor for Canadian scrap operations from Vancouver to Montreal. Lower fuel prices typically reduce transportation costs for scrap collection and processing, potentially improving margins for yards handling heavy materials like auto bodies and structural steel.

Global leaders are preparing economic shields against war-driven commodity price shocks, highlighting how geopolitical risks continue to ripple through metals markets. With inflation expectations holding steady at 2.33% and Fed rates unchanged, the macro environment supports industrial metals demand while safe-haven flows boost precious metals. Canadian scrap dealers should watch for continued volatility in both energy and base metals as supply chain concerns persist, particularly affecting copper-rich materials from electrical and plumbing demolition projects across Toronto, Calgary, and other major centers.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $5,180/oz, down $7.40 (-0.14%) day-over-day. Previous close: $5,188/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold dipped slightly as easing Middle East tensions reduced demand for the safe-haven metal, though the pullback was modest after recent gains. Canadian scrap sellers from Toronto to Vancouver should still find decent pricing for jewelry, dental gold, and electronic components, as the overall market remains well-supported by ongoing central bank purchases. While energy costs are stabilizing with lower oil prices benefiting scrap operations, gold's longer-term appeal as protection against economic uncertainty keeps recyclers optimistic about steady demand from refiners.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $86.25/oz, down $2.45 (-2.77%) day-over-day. Previous close: $88.70/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 60.1:1.

Silver fell back today as easing Middle East tensions reduced safe-haven demand, though the metal's dual role in both investment and industrial uses keeps Canadian scrap sellers from Toronto to Calgary watching closely. The gold-to-silver ratio at 60:1 suggests silver remains relatively affordable compared to gold, which could attract more industrial buyers looking for electronics and solar panel materials. Electronics recyclers and industrial scrap dealers across Vancouver, Montreal, and Ottawa should note that while geopolitical premiums are cooling off, silver's recent strength over three of the last five sessions shows underlying demand for the metal's industrial applications remains solid.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,162/oz, down $37.00 (-1.68%) day-over-day. Previous close: $2,199/oz.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,616/oz, down $30.00 (-1.82%) day-over-day. Previous close: $1,646/oz.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $11,650/oz, flat day-over-day. Previous close: $11,650/oz.
• Rhodium 5-day trend: ↑ 2 of last 5 sessions.

Platinum and palladium both declined today as easing Middle East tensions reduced safe-haven demand for precious metals, with scrap sellers in Toronto and Vancouver seeing lower prices despite recent strength in platinum over the past week. The pullback follows profit-taking after geopolitical premiums built up in recent sessions, though rhodium held steady at elevated levels. Canadian auto recyclers and catalytic converter processors should monitor whether this softening continues or if industrial demand provides support at current levels.

Copper — Current Indicators

• COMEX/Spot Copper: $5.85/lb, down $0.0710 (-1.20%) day-over-day. Previous close: $5.92/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper dropped about 7 cents today as easing Middle East tensions reduced demand fears, though the metal has still climbed in three of the past five sessions. The pullback affects scrap sellers across Canadian markets from Vancouver to Toronto, with #1 and #2 copper, bare bright wire, and insulated copper wire all seeing softer pricing at local yards. While today's decline reflects some profit-taking after recent gains, copper's overall trend remains supported by steady industrial demand, giving scrap operators from Calgary to Montreal reason for cautious optimism heading into the rest of the week.

Aluminum — Current Indicators

• LME Aluminum: $3,434/tonne ($1.56/lb), up +$0.0185 (+1.20%) day-over-day. Previous close: $1.54/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum prices edged higher as easing Middle East tensions helped stabilize energy costs, providing a modest boost to the lightweight metal used heavily in automotive and construction sectors. The small uptick benefits scrap sellers across Canada from Vancouver auto recyclers to Toronto industrial operations, with cast aluminum from engine blocks, sheet metal from appliances, and extrusion material from window frames all seeing slightly better returns. Canadian yards should watch oil price movements closely, as lower energy costs can improve aluminum production economics and support steady demand from domestic manufacturers.

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.