SMASH Recycling Morning Metals Report – May 21, 2026

Prices as of May 21, 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 — $4,505/oz ▼
• Silver — $74.82/oz ▼
• PGMs — Rh ▼ $9,650 · Pt ▼ $1,923 · Pd ▼ $1,327
• Copper — $6.26/lb ▼
• Aluminum — $1.66/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3751

SMASH Recycling Takeaways for Today

• Gold & Silver — Both are down again; if your cash flow allows, hold off and wait for a clear bounce before sending big lots to the yard.
• PGMs — Prices are slipping across platinum, palladium, and rhodium, so slow-roll catalytic and PGM scrap; only move what you must for cash needs.
• Copper — Copper is about 6 cents lower, and my earlier “ready to bounce” call was early, so keep heavy loads tarped and wait for at least a day or two of firm gains before you dump volume.
• Aluminum — Aluminum is the lone gainer; take advantage and move clean extrusion, sheet, and rims now while it’s green and helping cover weaker metals.
• Big Picture — Risk-off day with 1 of 8 metals higher and most others red, so be a selective seller and avoid flooding the yard with premium grades into this dip.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $107.25/bbl, up $1.72 (+1.63%) day-over-day.

Brent crude is back on the move, up to about $107, gaining nearly 2% overnight. Higher oil means higher fuel and freight costs, which can squeeze shredder margins and raise trucking rates for long hauls. Middle East risk is still baked into prices, but not exploding higher, so energy is firm, not wild.

Bond yields are creeping up again, while inflation expectations ticked down a bit. That mix keeps the Fed in “wait and see” mode, so no quick rate cuts to juice growth. For Canadian yards, a weaker loonie near 1.38 CAD per USD still helps export tags when selling into U.S. markets, but also raises the cost of imported gear and parts. Overall risk tone: cautious, not panicked.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,505/oz, down $37.73 (-0.83%) day-over-day. Previous close: $4,543/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold for scrap sellers is still worth good money, but the market is shaky today. Spot gold is at $4,505 an ounce, down $37.73, and it has fallen in 3 of the last 5 sessions, so prices are not as steady as they were. Higher oil also keeps fuel and freight costs up, which can squeeze recyclers and cut into margins.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $74.82/oz, down $0.8445 (-1.12%) day-over-day. Previous close: $75.67/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 60.2:1.

Silver is trading lower around $74.82/oz today, down about 1%, and it has slipped in 3 of the last 5 sessions. With the gold/silver ratio near 60 and fuel costs climbing on higher Brent crude, yards may stay cautious on silver bids, so sellers should expect tighter spreads and be ready to shop quotes before moving clean, higher-grade silver scrap.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,923/oz, down $21.00 (-1.08%) day-over-day. Previous close: $1,944/oz. MoM: -5.2%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,327/oz, down $26.00 (-1.92%) day-over-day. Previous close: $1,353/oz. MoM: -13.0%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $9,650/oz, down $50.00 (-0.52%) day-over-day. Previous close: $9,700/oz. MoM: -4.9%.
• Rhodium 5-day trend: ↓ 5 of last 5 sessions.

PGM prices are soft today, with platinum and palladium both down again and rhodium sliding for a fifth straight session. Scrap sellers should expect weaker bids on cat loads, and with fuel costs rising on $107 Brent, long-haul moves may see tighter margins and tougher freight talks.

Copper — Current Indicators

• COMEX/Spot Copper: $6.26/lb, down $0.0640 (-1.01%) day-over-day. Previous close: $6.32/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper is still very strong near $6.25/lb, but it slipped about 6 cents and has been down in three of the last five sessions. Scrap yards may trim their scale prices a bit, so sellers with light loads can wait, but full trucks of clean copper should still bring in top money at these levels.

Aluminum — Current Indicators

• LME Aluminum: $3,655/tonne ($1.66/lb), up +$0.0107 (+0.65%) day-over-day. Previous close: $1.65/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum is a touch stronger today, around $1.66 per pound, up about a penny and higher in 3 of the last 5 sessions. With Brent oil back near $107 and fuel costs rising, expect some yards to guard margins, so shop your quotes and move clean, sorted aluminum if buyers are still paying up.

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.