SMASH Recycling Morning Metals Report – March 5, 2026

Prices as of March 05, 2026 at 02:55 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.

SMASH Recycling Takeaways for Today

• Gold & Silver — Both metals dropped hard today with gold down $53 and silver down 95 cents. After yesterday's recovery from Tuesday's crash, this pullback suggests volatility continues. Hold off selling until prices stabilize above $5,200 gold and $85 silver.
• PGMs — Rhodium took the biggest hit, down $400 to $11,450, while palladium fell $33 and platinum dropped $21. All three are still well above Tuesday's lows, so this looks like profit-taking rather than another crash. Toronto and Vancouver yards should list catalytic converters now before further weakness.
• Copper — Data for copper is temporarily unavailable; check back tomorrow for updated figures.
• Aluminum — Data for aluminum is temporarily unavailable; check back tomorrow for updated figures.
• Big Picture — Precious metals are giving back yesterday's gains in a volatile but orderly pullback across all major metals.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $84.09/bbl, up $1.73 (+2.10%) day-over-day.

Oil's $1.73 jump reflects growing concerns about Middle East tensions and supply disruptions, building on recent geopolitical developments that have kept energy markets on edge. With the 10-year Treasury yield ticking up to 4.06% and inflation expectations holding steady at 2.29%, the macro backdrop shows persistent price pressures that typically support commodity values.

Higher energy costs directly boost scrap processing expenses across Canadian yards from Vancouver to Halifax, as operators face increased fuel bills for collection trucks and higher electricity costs for shredding operations. The weaker U.S. dollar (down from recent levels) helps make Canadian scrap more competitive for export buyers, particularly benefiting Toronto and Montreal yards that ship to overseas steel mills. Safe-haven demand for gold and silver continues as markets digest ongoing geopolitical risks, while base metals face mixed signals from steady Fed policy and elevated bond yields that could slow industrial demand.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $5,101/oz, down $53.40 (-1.04%) day-over-day. Previous close: $5,154/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold pulled back today after recent strength, dropping over fifty dollars as markets weighed mixed economic signals against the metal's safe-haven appeal. For Canadian scrap sellers from Vancouver to Halifax, this dip presents a solid selling opportunity before potential further declines, especially given gold's impressive run over the past week that saw three positive sessions out of five. Jewelers and e-waste recyclers should monitor whether this pullback continues or if geopolitical tensions and central bank demand provide support at these levels.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $82.59/oz, down $0.9470 (-1.13%) day-over-day. Previous close: $83.54/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 61.8:1.

Silver dropped about 95 cents today, continuing its choppy pattern after last week's volatile swings that saw it fall over 10% then bounce back strongly. The gold-to-silver ratio at 61.8-to-1 suggests silver remains relatively cheap compared to gold, which could attract scrap sellers in Toronto, Vancouver, and Montreal looking to time their sales of old jewelry, silverware, and industrial components. Electronics recyclers across Calgary and Edmonton should watch silver's dual role as both a precious metal investment and key industrial input for solar panels and circuit boards, as this recent weakness may reflect concerns about industrial demand rather than just precious metals sentiment.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,138/oz, down $21.00 (-0.97%) day-over-day. Previous close: $2,159/oz.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,625/oz, down $33.00 (-1.99%) day-over-day. Previous close: $1,658/oz.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $11,450/oz, down $400.00 (-3.38%) day-over-day. Previous close: $11,850/oz.
• Rhodium 5-day trend: ↓ 4 of last 5 sessions.

Precious metals from catalytic converters took another hit today, with rhodium dropping $400 to extend its recent losing streak. All three PGMs continued the downward trend from earlier this week, as rhodium and palladium have now declined in four of the last five sessions. Canadian scrap yards in Toronto, Vancouver, and other major centers are seeing weaker payouts for catalytic converter material, though rhodium still commands the highest prices among the three metals despite the selloff.

Copper — Current Indicators

• Copper: Price unavailable.

Copper data is temporarily unavailable today, so scrap sellers across Toronto, Montreal, Vancouver, and other Canadian markets will need to check back tomorrow for updated pricing. Based on recent market memory, copper has shown some volatility, gaining over a dime per pound earlier this week after a previous decline, which suggests the industrial metal is responding to broader economic signals. When prices do update, sellers of bare bright copper, #1 and #2 copper, and copper wire should watch for any continuation of this back-and-forth pattern that could affect their scrapyard negotiations.

Aluminum — Current Indicators

• Aluminum: Price unavailable.

Aluminum data is temporarily unavailable today, but recent market memory shows the metal had been gaining momentum with back-to-back increases earlier this week. Canadian scrap yards from Vancouver to Montreal should keep watching for pricing updates, as aluminum has shown an upward trend in recent sessions. Cast aluminum sellers at auto recyclers and sheet aluminum from industrial operations typically benefit when primary metal prices strengthen, though extrusion grades can lag depending on regional demand from construction and manufacturing sectors.

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.