SMASH Recycling Morning Metals Report – May 20, 2026

Prices as of May 20, 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 — $4,500/oz ▲
• Silver — $75.42/oz ▲
• PGMs — Rh ▼ $9,700 · Pt ▲ $1,936 · Pd ▼ $1,342
• Copper — $6.24/lb ▲
• Aluminum — $1.63/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3757

SMASH Recycling Takeaways for Today

• Gold & Silver — Use today’s bounce to move clean jewelry, coins, and bars; avoid holding out for higher silver until it proves it can hold above this $75 zone.
• PGMs — Prioritize selling weaker rhodium and palladium from cat converters now, but you can be a bit more patient on platinum as it trends higher.
• Copper — With copper ticking up again, this meets my “wait for a green day” rule; if you’ve been holding for a pop, this is a good day to move heavier loads.
• Aluminum — Prices are basically flat, so focus on volume and clean, sorted grades rather than waiting for a better market.
• Big Picture — Mixed board today (4 up, 3 down, 1 flat), so sell into strength on today’s winners and keep weak metals moving instead of stockpiling.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $108.28/bbl, down $2.78 (-2.50%) day-over-day.

Macro Backdrop — Energy and Risk

Brent crude slipped to about $108, down almost $3, as talks around the Middle East calm some supply fears. Oil is still high, so fuel and freight stay pricey for yards, but this pullback takes a bit of heat off trucking and shredder costs. The U.S. 10‑year yield is edging up near 4.6%, which keeps borrowing costs high and weighs on big factory and building projects.

The Fed rate is steady, and inflation expectations are holding just under 2.5%, so no clear signal of fast cuts yet. Auto production is ticking higher, which is good for future auto scrap flows and steel demand. The U.S. dollar index has eased, but the loonie is still weak around 1.38 USD/CAD, helping Canadian exporters but squeezing U.S. buyers who source Canadian scrap. Overall risk tone: cautious, not panic, with higher rates still capping upside for metals.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,500/oz, up +$18.00 (+0.40%) day-over-day. Previous close: $4,482/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold is at $4,500 an ounce, up a little today, but it has been soft over the last five sessions. Scrap sellers may still see strong cash values, but price swings mean timing matters, and recyclers should watch bids closely before buying in.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $75.42/oz, up +$1.44 (+1.95%) day-over-day. Previous close: $73.98/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 59.7:1.

Silver is up today around $75.42/oz, gaining almost 2%, though it’s still down in 3 of the last 5 sessions. For scrap sellers and recyclers, buyers should stay active, but this choppy tape means it’s smart to grab good bids on clean, sorted silver while you have them and keep an eye on spot in case the next dip gives you a better reload price.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,936/oz, up +$12.00 (+0.62%) day-over-day. Previous close: $1,924/oz. MoM: -7.7%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,342/oz, down $2.00 (-0.15%) day-over-day. Previous close: $1,344/oz. MoM: -13.2%.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $9,700/oz, down $50.00 (-0.51%) day-over-day. Previous close: $9,750/oz. MoM: -4.4%.
• Rhodium 5-day trend: ↓ 4 of last 5 sessions.

Platinum is firm today and still in a tight market, which supports better payouts on clean auto cat loads. Palladium and rhodium are soft and have slipped in four of the last five sessions, so mixed can prices may feel a bit lighter, and sellers might hold marginal material unless they need the cash.

Copper — Current Indicators

• COMEX/Spot Copper: $6.24/lb, up +$0.0350 (+0.56%) day-over-day. Previous close: $6.20/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper is around $6.24 per pound today, up about 4 cents, even after slipping in 3 of the last 5 days. This keeps yard scales very strong, so it’s still a good time to move clean copper, but watch for more quick ups and downs.

Aluminum — Current Indicators

• LME Aluminum: $3,594/tonne ($1.63/lb), down $0.0010 (-0.06%) day-over-day. Previous close: $1.63/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Aluminum is almost flat today at about $1.63 per pound, down less than a penny and lower in 4 of the last 5 days. With oil still high but easing a bit, yards face steady trucking costs, so expect them to stay picky on quality and to reward clean, sorted aluminum more than mixed loads.

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.