SMASH Recycling Morning Metals Report – May 12, 2026

Prices as of May 12, 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 — $4,695/oz ▼
• Silver — $83.82/oz ▼
• PGMs — Rh ▸ $9,975 · Pt ▼ $2,097 · Pd ▼ $1,466
• Copper — $6.48/lb ▼
• Aluminum — $1.62/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3667

SMASH Recycling Takeaways for Today

• Gold & Silver — Hold gold and silver scrap today as both dropped over 1% and 3%; wait for a rebound before selling jewelry or e-waste.
• PGMs — Sell palladium catalytic converters now to lock in value before further declines, but hold rhodium and platinum scrap as rhodium stays flat.
• Copper — Pause copper scrap sales after today's 1-cent drop; monitor for recovery amid recent demand softening.
• Aluminum — Hold aluminum scrap lots as prices dipped less than a cent; recent gains may resume with auto demand.
• Big Picture — 0 of 8 metals higher today; all major ones down or flat, so stay cautious with inventory moves.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $107.81/bbl, up $3.48 (+3.34%) day-over-day.

### Macro Backdrop — Energy and Risk

Brent crude oil jumped to $107.81 per barrel, up $3.48 or 3.3% today. This follows big gains last week amid Middle East tensions and the Strait of Hormuz blockade. EIA sees prices averaging $91 in Q2 before falling to $70 by year-end as supplies recover. Higher energy costs could tighten scrap supply and lift prices for heavy melting scrap.

Risk stays high with gold at record highs on Trump-Xi talks and Iran issues. 10-year yields eased to 4.38%, but inflation expectations rose to 2.47%. Auto output fell sharply, pressuring scrap from cars. Canada aids its metals sector against U.S. tariffs. Watch oil flows for scrap demand clues.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,695/oz, down $58.03 (-1.22%) day-over-day. Previous close: $4,753/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold scrap prices dipped today to $4,695 per ounce, down $58 or 1.2%, but rose in 3 of the last 5 sessions. High demand for recycled gold keeps the market strong for sellers, even with this pullback matching recent trends. Recyclers should watch for buyers eager amid record highs near $4,700.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $83.82/oz, down $3.14 (-3.61%) day-over-day. Previous close: $86.97/oz.
• 5-day trend: ↑ 4 of last 5 sessions.
• Gold/Silver ratio: 56.0:1.

Silver scrap prices fell to $83.82 per ounce today, down $3.14 or 3.6%. This pullback matches my recent call for sellers to lock in gains after strong prior rises, even as it climbed in 4 of the last 5 sessions. With oil at $107.81 per barrel amid Middle East tensions, hold scrap silver for now—recyclers may see better entry points if demand steadies.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,097/oz, down $44.00 (-2.06%) day-over-day. Previous close: $2,141/oz. MoM: +2.6%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,466/oz, down $34.00 (-2.27%) day-over-day. Previous close: $1,500/oz. MoM: -2.7%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,975/oz, flat day-over-day. Previous close: $9,975/oz. MoM: -2.2%.
• Rhodium 5-day trend: ↑ 1 of last 5 sessions.

PGM prices dipped today, with platinum at $2,097/oz down 2% and palladium at $1,466/oz down 2.3%, while rhodium held flat at $9,975/oz. Scrap sellers face short-term pressure from volatile markets and low recycling volumes, but higher oil at $107.81/bbl signals rising energy costs that could boost demand soon. Hold steady or sell if you need cash now—deficits may lift prices later this year.

Copper — Current Indicators

• COMEX/Spot Copper: $6.48/lb, down $0.0145 (-0.22%) day-over-day. Previous close: $6.49/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper is holding steady at $6.48 per pound after a tiny dip today, but the bigger story is strength—prices have risen in 3 of the last 5 trading days. With oil prices climbing due to Middle East tensions, energy costs are pushing up overall scrap values, so this is still a solid time for sellers to move material. Just watch for swings, since copper has shown wild volatility recently.

Aluminum — Current Indicators

• LME Aluminum: $3,565/tonne ($1.62/lb), down $0.0059 (-0.36%) day-over-day. Previous close: $1.62/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum scrap prices fell to $1.62 per pound today, down less than a cent or 0.36%. This marks the third drop in the last five sessions, even as Brent crude oil jumped to $107.81 per barrel on Middle East tensions. Scrap sellers should hold steady for now, as energy costs rise but aluminum demand cools.

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.