SMASH Recycling Morning Metals Report – May 1, 2026

Prices as of May 01, 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 — $4,606/oz ▼
• Silver — $75.04/oz ▲
• PGMs — Rh ▲ $10,050 · Pt ▲ $2,011 · Pd ▲ $1,539
• Copper — $5.98/lb ▼
• Aluminum — $1.60/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3624

SMASH Recycling Takeaways for Today

• Gold & Silver — Sell gold scrap now while prices hold near $4,606/oz after a 0.51% drop, but hold silver scrap above $75/oz as it rises 1.18% amid refiner shortages.
• PGMs — Sell platinum, palladium, and rhodium scrap today with gains of 0.90%, 0.98%, and 0.50% respectively to lock in strength from auto demand.
• Copper — Sell copper scrap quickly at $5.98/lb after a 0.80% drop to avoid further whiplash in this volatile market.
• Aluminum — Hold aluminum scrap briefly as it climbs 1.28% to $1.60/lb, watching for more green energy demand to push values higher.
• Big Picture — Sell across most categories now as 5 of 8 metals trade higher today.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $110.09/bbl, down $1.35 (-1.21%) day-over-day.

# Macro Backdrop — Energy and Risk

Oil prices fell overnight, with Brent crude sliding 1.2% to $110.09 per barrel. The drop reflects easing geopolitical tensions and steady global supply. However, energy remains a risk factor. Auto production is down 3.9% this month, which could signal slower economic activity ahead. Weaker demand typically pushes oil lower, but any supply disruptions—especially from Iran—could reverse these gains quickly.

Interest rates and inflation are the bigger worry for metals. The 10-year Treasury yield jumped to 4.42%, which makes it harder for businesses to borrow money for equipment and construction. That's bad for scrap demand. Inflation expectations stayed flat at 2.46%, but the Federal Reserve is holding rates steady at 3.64%. This cautious stance suggests the economy is cooling. Scrap traders should watch for any signs of weaker industrial activity, which would pressure both energy costs and metal prices downward.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,606/oz, down $23.52 (-0.51%) day-over-day. Previous close: $4,630/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold spot price fell to **$4,606 per ounce**, down $23.52 or 0.51% today. This drop follows a weak trend, with prices down in 4 of the last 5 sessions, as easing geopolitical tensions and lower oil prices at $110.09 per barrel ease safe-haven demand. Scrap sellers should hold steady, as buyers offer 60-90% of melt value based on purity and weight amid these softer conditions.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $75.04/oz, up +$0.8740 (+1.18%) day-over-day. Previous close: $74.17/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 61.4:1.

**Silver** spot price hit **$75.04 per ounce**, up 87 cents or 1.18% today with gains in 3 of the last 5 sessions. The **gold-silver ratio** sits at 61.4:1, showing silver's strong run as refiners face shortages—scrap sellers should hold material now for higher payouts soon. Lower oil at **$110.09 per barrel** from easing tensions may ease costs but won't slow this upward trend.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,011/oz, up +$18.00 (+0.90%) day-over-day. Previous close: $1,993/oz. MoM: +2.7%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,539/oz, up +$15.00 (+0.98%) day-over-day. Previous close: $1,524/oz. MoM: +5.2%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $10,050/oz, up +$50.00 (+0.50%) day-over-day. Previous close: $10,000/oz. MoM: -0.5%.
• Rhodium 5-day trend: → flat over last 5 sessions.

PGM prices rose today, with platinum at $2,011 per ounce up 0.9%, palladium at $1,539 per ounce up 1.0%, and rhodium at $10,050 per ounce up 0.5%. Even with oil prices falling to $110 per barrel on easing tensions, high rhodium levels above $10,000 make scrap catalytic converters worth selling now—get multiple quotes for 30-35% of spot value. Recycling demand stays strong as secondary supply grows to meet shortages from mines.

Copper — Current Indicators

• COMEX/Spot Copper: $5.98/lb, down $0.0480 (-0.80%) day-over-day. Previous close: $6.03/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Copper scrap prices fell to $5.98 per pound today, down 5 cents or 0.8%. The metal dropped in 4 of the last 5 days amid falling oil prices—Brent crude slid to $110.09 per barrel as tensions ease. Scrap sellers should hold off selling until the downtrend shows signs of stopping.

Aluminum — Current Indicators

• LME Aluminum: $3,528/tonne ($1.60/lb), up +$0.0202 (+1.28%) day-over-day. Previous close: $1.58/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum prices rose today to $1.60 per pound, up 2 cents or 1.3%. This gain bucks the recent drop in 3 of the last 5 sessions and comes despite falling oil prices at $110 per barrel from easing tensions. Scrap sellers should hold steady as buyers eye this uptick amid softer energy costs.

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.