SMASH Recycling Morning Metals Report – May 11, 2026

Prices as of May 11, 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.

Jump to:

• Gold — $4,691/oz ▼
• Silver — $82.54/oz ▲
• PGMs — Rh ▲ $9,975 · Pt ▲ $2,062 · Pd ▼ $1,473
• Copper — $6.38/lb ▲
• Aluminum — $1.61/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3686

SMASH Recycling Takeaways for Today

• Gold & Silver — Hold gold scrap as it dips $24 to $4,691/oz but sell silver now after its $2.18 gain to $82.54/oz for quick profits.
• PGMs — Sell rhodium and platinum scrap today on small gains to $9,975/oz and $2,062/oz but hold palladium after its $4 drop to $1,473/oz.
• Copper — Move copper scrap fast with prices up 10 cents to $6.38/lb on strong demand.
• Aluminum — Sell aluminum scrap while it's up 2 cents to $1.61/lb before any pullback.
• Big Picture — 5 of 8 metals higher today.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $104.21/bbl, up $3.72 (+3.70%) day-over-day.

## Macro Backdrop — Energy and Risk

**Brent Crude Oil:** $104.21/bbl, up $3.72 (+3.70%) day-over-day.

Oil jumped $3.72 today. This rise ties to U.S.-Iran tensions. Recent news shows Iran calling its response "generous," but Trump deems it "unacceptable." These risks push energy costs higher. That raises trucking and power bills for scrap yards in places like Detroit and Chicago.

The 10-year Treasury yield hit 4.41%, up a bit. This hints at growth ahead, which could lift steel demand. But higher rates may slow building projects. USD/CAD sits at 1.3686, steady for cross-border trade. Watch for more scrap price support if oil stays firm.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,691/oz, down $24.17 (-0.51%) day-over-day. Previous close: $4,715/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold hit $4,691 per ounce today, down $24 or 0.51% from yesterday. Scrap sellers and recyclers see steady demand as high prices boost recycling, even with this small dip after recent gains. Lock in profits now before more pullbacks, as uptrends held in 3 of the last 5 days.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $82.54/oz, up +$2.18 (+2.72%) day-over-day. Previous close: $80.35/oz.
• 5-day trend: ↑ 5 of last 5 sessions.
• Gold/Silver ratio: 56.8:1.

Silver scrap prices hit $82.54 per ounce today, up $2.18 or 2.72% from yesterday. The metal climbed in all five of the last trading sessions, bucking my earlier pullback call as demand stays hot. Scrap sellers and recyclers should sell now before any reversal, with the gold-silver ratio at 56.8:1 signaling silver's strong run.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,062/oz, up +$5.00 (+0.24%) day-over-day. Previous close: $2,057/oz. MoM: +0.9%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,473/oz, down $4.00 (-0.27%) day-over-day. Previous close: $1,477/oz. MoM: -2.3%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,975/oz, up +$25.00 (+0.25%) day-over-day. Previous close: $9,950/oz. MoM: -2.2%.
• Rhodium 5-day trend: → flat over last 5 sessions.

PGM prices are mixed today, with platinum up to $2,062/oz and rhodium at $9,975/oz, both gaining slightly, while palladium dips to $1,473/oz. Higher prices in 2025 are boosting scrap autocatalyst recycling, with forecasts showing platinum supply up 6% this year and growing through 2029 amid market deficits. Scrap sellers should get multiple quotes now if rhodium stays near $10,000/oz, as payouts can reach 30-35% of spot value, but hold if waiting on assays.

Copper — Current Indicators

• COMEX/Spot Copper: $6.38/lb, up +$0.1000 (+1.59%) day-over-day. Previous close: $6.28/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Copper scrap prices hit $6.38 per pound today, up 10 cents or 1.59% from yesterday. This marks the fourth up day in five sessions, fueled by tight supply from tariffs and strong U.S. demand for manufacturing and infrastructure. Scrap sellers should cash in now while prices stay hot amid rising oil at $104.21 per barrel.

Aluminum — Current Indicators

• LME Aluminum: $3,552/tonne ($1.61/lb), up +$0.0220 (+1.38%) day-over-day. Previous close: $1.59/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum scrap hit $1.61 per pound today, up 2 cents or 1.38% from yesterday. It rose in 3 of the last 5 sessions, matching higher primary prices near $3,500 per ton and steady demand trends. Scrap sellers should sell now before any pullback, as seasonal peaks build strength.

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.