SMASH Recycling Morning Metals Report – March 13, 2026

Prices as of March 13, 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 — $5,107/oz ▲
• Silver — $84.11/oz ▲
• PGMs — Rh ▸ $11,500 · Pt ▼ $2,089 · Pd ▼ $1,591
• Copper — $5.79/lb ▼
• Aluminum — $1.58/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3617

SMASH Recycling Takeaways for Today

• Gold & Silver — Gold at $5,107/oz (up $10.65) shows steady strength while silver at $84.11/oz barely moved (up 1 cent). Our models called silver higher but missed the mark. Hold your precious metals inventory through weekend — gold's momentum remains intact despite silver's pause.
• PGMs — Platinum dropped hard to $2,089/oz (down $49) and palladium fell to $1,591/oz (down $18). Yesterday's palladium gains got partially reversed today. Toronto and Montreal yards should sell PGM-heavy catalytic converters now before further weakness hits your margins.
• Copper — Copper slipped to $5.79/lb (down 3 cents), continuing recent softness. Our analysis correctly anticipated downward pressure. Calgary and Edmonton scrap yards should move copper wire and tubing inventory quickly — industrial metals facing headwinds.
• Aluminum — Aluminum dropped to $1.58/lb (down about 2 cents), showing 1.2% decline. Vancouver and Hamilton operators should clear aluminum radiator and siding stockpiles before prices weaken further. List oversized loads on SMASH Recycling for better pricing.
• Big Picture — Tough session with only 1 of 8 metals higher today, signaling broad weakness across scrap markets heading into weekend.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $99.18/bbl, up $0.1900 (+0.19%) day-over-day.

Oil's modest 19-cent gain reflects ongoing tensions from the Iran conflict, with India's government updating its crude supply situation as the Hormuz Strait remains a key concern. The continued geopolitical risk premium in energy markets provides tailwinds for scrap values, as higher transportation and processing costs typically translate to stronger pricing for Canadian yards from Vancouver to Halifax. Meanwhile, LPG supply disruptions and government moves to prevent hoarding signal broader energy supply chain stress that could ripple through industrial metals demand.

The weaker U.S. dollar and elevated inflation expectations create a supportive backdrop for commodity-linked assets like scrap steel and non-ferrous metals. Canadian operators should expect continued volatility as markets balance geopolitical supply risks against potential demand slowdown from higher energy costs. With base metals showing mixed signals despite the oil rally, scrap pricing may increasingly depend on regional supply-demand dynamics rather than following broader commodity trends, particularly for automotive scrap in Ontario's manufacturing corridor and structural steel in Alberta's energy sector.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $5,107/oz, up +$10.65 (+0.21%) day-over-day. Previous close: $5,097/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold's modest gain today reflects continued safe-haven demand as ongoing Iran conflict tensions keep geopolitical risk premiums elevated across commodity markets. The precious metal's steady performance, despite some recent volatility, provides encouraging signals for Canadian scrap gold sellers from Vancouver jewelry districts to Toronto e-waste recyclers who have been navigating uncertain pricing conditions. With transportation and processing costs rising alongside energy markets, scrap yard operators in Montreal, Calgary, and other major centers should expect this geopolitical support to maintain relatively firm gold values for items ranging from dental scrap to electronic components.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $84.11/oz, up +$0.0135 (+0.02%) day-over-day. Previous close: $84.09/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 60.7:1.

Silver edged up barely a penny today as ongoing Middle East tensions continue supporting precious metals, with the gold-silver ratio at 60.7:1 suggesting silver remains relatively affordable compared to its yellow counterpart. Canadian scrap yards from Toronto to Vancouver should see steady demand for silver-bearing electronics, jewelry, and industrial waste, especially as the metal's dual role in both investment and solar panel production keeps underlying support strong. With silver showing strength in three of the past five sessions, recyclers processing everything from old circuit boards to photographic equipment may find buyers willing to pay competitive rates for quality material.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,089/oz, down $49.00 (-2.29%) day-over-day. Previous close: $2,138/oz.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,591/oz, down $18.00 (-1.12%) day-over-day. Previous close: $1,609/oz.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $11,500/oz, flat day-over-day. Previous close: $11,500/oz.
• Rhodium 5-day trend: → flat over last 5 sessions.

Precious metals sellers in Toronto and Vancouver are seeing mixed signals today as platinum and palladium pulled back while rhodium held steady at current levels. The decline in platinum and palladium comes even as ongoing Iran tensions keep oil prices elevated, which typically supports scrap values through higher processing costs. Rhodium's stability at premium levels continues to benefit catalytic converter recyclers from Calgary to Montreal, though sellers should watch whether the recent weakness in the other PGMs signals broader demand concerns or just temporary profit-taking after recent volatility.

Copper — Current Indicators

• COMEX/Spot Copper: $5.79/lb, down $0.0340 (-0.58%) day-over-day. Previous close: $5.82/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper dipped about 3 cents today as geopolitical tensions in the Middle East create mixed signals for industrial metals, with higher energy costs from oil's rise to $99.18 per barrel offsetting some demand concerns. For Canadian scrap sellers from Vancouver to Toronto, this small pullback doesn't change the supportive backdrop from elevated transportation and processing costs, though #1 and #2 copper along with bare bright wire may see slightly softer offers at yards. Watch how the Iran conflict develops over the weekend, as sustained energy market premiums typically help copper pricing even during modest technical corrections like today's.

Aluminum — Current Indicators

• LME Aluminum: $3,477/tonne ($1.58/lb), down $0.0192 (-1.20%) day-over-day. Previous close: $1.60/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum pulled back slightly despite ongoing Middle East tensions that have kept oil prices elevated, with the modest decline reflecting normal profit-taking after recent gains rather than fundamental weakness. The geopolitical risk premium in energy markets continues to support underlying scrap values across Canadian yards from Vancouver to Toronto, as higher transportation and processing costs typically translate into stronger pricing for sellers. Cast aluminum and automotive scrap dealers in Montreal, Calgary, and Hamilton should expect this supportive backdrop to persist while supply chains remain disrupted, though day-to-day volatility may continue as markets balance tension premiums against demand fluctuations.

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.