SMASH Recycling Morning Metals Report – March 6, 2026

Prices as of March 06, 2026 at 01:00 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.

SMASH Recycling Takeaways for Today

• Gold & Silver — Gold dropped $17.75 to $5,078/oz while silver gained 26 cents to $82.38/oz; mixed signals suggest holding precious metals scrap until direction clears, but silver's strength may continue.
• PGMs — Platinum and rhodium stayed flat at $2,131/oz and $11,450/oz respectively while palladium edged up $1 to $1,622/oz; stable pricing makes this a good time to sell accumulated PGM scrap from catalytic converters.
• Copper — Copper fell 3 cents to $5.80/lb, continuing weakness from earlier this week; Toronto and Vancouver yards may lower buy prices, so consider holding copper wire and pipe until momentum shifts.
• Aluminum — Aluminum surged 3 cents to $1.52/lb with a strong 2% gain; this confirms the uptrend from Wednesday, making it prime time to sell aluminum cans, siding, and automotive scrap across Canadian markets.
• Big Picture — Mixed metals market with aluminum leading gains while gold and copper show weakness, suggesting selective selling by metal type rather than broad market moves.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $89.38/bbl, up $5.21 (+6.19%) day-over-day.

Oil's sharp $5.21 surge reflects growing tensions in the Middle East and renewed concerns about supply disruptions, building on the energy volatility we've seen this week. The move higher supports input costs across Canadian scrap operations from Vancouver to Halifax, as diesel and transportation expenses climb. Rising bond yields to 4.09% and sticky inflation expectations above 2.3% signal the Fed may keep rates elevated longer, which typically strengthens the dollar and pressures commodity demand.

For Canadian scrap yards in Toronto, Montreal, and Calgary, higher energy costs squeeze margins while elevated borrowing costs make inventory financing more expensive. The combination of pricier oil and tighter monetary policy often dampens industrial activity, reducing demand from steel mills and auto shredders. However, if geopolitical tensions escalate further, metals could find safe-haven buying interest despite the macro headwinds facing base metal consumption.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $5,078/oz, down $17.75 (-0.35%) day-over-day. Previous close: $5,096/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold pulled back today, dropping $17.75 to around $5,078 per ounce, continuing a mostly downward trend over the past week. This slight decline follows Tuesday's sharp selloff and suggests some consolidation after gold's recent volatile swings, which matters for Canadian scrap sellers from Vancouver to Halifax who've seen pricing become less predictable. Jewelers and e-waste recyclers should expect scrap gold buyback rates to adjust accordingly, though prices remain historically elevated and attractive for those looking to liquidate old electronics or jewelry.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $82.38/oz, up +$0.2625 (+0.32%) day-over-day. Previous close: $82.12/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 61.6:1.

Silver edged higher by about 26 cents today, recovering slightly after falling in three of the last five trading sessions. The gold-to-silver ratio sits at 61.6-to-1, suggesting silver remains relatively affordable compared to its precious metal cousin, which could attract Canadian scrap sellers looking to diversify from gold holdings. For electronics recyclers across Toronto and Vancouver processing circuit boards and photovoltaic panels, silver's dual role as both a precious and industrial metal continues to support steady scrap values, though the recent choppy trading pattern suggests watching for clearer direction signals in the days ahead.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,131/oz, flat day-over-day. Previous close: $2,131/oz.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,622/oz, up +$1.00 (+0.06%) day-over-day. Previous close: $1,621/oz.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $11,450/oz, flat day-over-day. Previous close: $11,450/oz.
• Rhodium 5-day trend: ↓ 3 of last 5 sessions.

PGM markets showed mixed signals for Canadian scrap sellers, with palladium gaining slightly while platinum and rhodium held steady after recent weakness. All three metals have declined in three of the past five sessions, continuing the selling pressure that began earlier this week when platinum dropped sharply and palladium fell significantly. Scrap yards in Toronto, Vancouver, and other major centers should monitor whether this consolidation marks a pause before further declines or the start of a recovery in these volatile precious metals markets.

Copper — Current Indicators

• COMEX/Spot Copper: $5.80/lb, down $0.0295 (-0.51%) day-over-day. Previous close: $5.83/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Copper dropped about 3 cents today, extending a downward trend that's now hit 4 of the last 5 trading sessions. This continued weakness means scrap sellers across Toronto, Vancouver, and other Canadian markets are seeing reduced payouts for bare bright copper, #1 and #2 copper grades, and copper wire compared to earlier this week when prices were above $5.90 per pound. Industrial sellers and auto recyclers should monitor whether this slide continues, as copper's recent volatility suggests prices could bounce back quickly if market conditions shift.

Aluminum — Current Indicators

• LME Aluminum: $3,346/tonne ($1.52/lb), up +$0.0301 (+2.02%) day-over-day. Previous close: $1.49/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum gained about 3 cents today, continuing a strong upward trend with gains in four of the last five trading sessions. This momentum builds on last week's solid performance when aluminum jumped over 3% in a single day, signaling renewed demand for the lightweight metal across Canadian scrap markets from Vancouver to Halifax. Sellers of cast aluminum, sheet metal, and extrusions should find buyers more willing to pay premium prices, especially as industrial activity picks up and construction projects gear up for spring across Toronto, Montreal, and Calgary.

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.