SMASH Recycling Morning Metals Report – May 22, 2026

Prices as of May 22, 2026 at 07:30 AM CDT.

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 — $4,525/oz ▼
• Silver — $75.94/oz ▼
• PGMs — Rh ▸ $9,650 · Pt ▼ $1,931 · Pd ▼ $1,339
• Copper — $6.35/lb ▲
• Aluminum — $1.65/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3783

SMASH Recycling Takeaways for Today

• Gold & Silver — With both down again, avoid panic selling; move only low-grade, damaged, or cash‑needed lots and hold clean jewelry, coins, and bars for a bounce.
• PGMs — Platinum and palladium are sliding and rhodium is flat, so slow-roll converter and PGM turn-ins unless you need cash, and focus on pulling, testing, and sorting higher-value units for when prices firm.
• Copper — Price is inching up and has been firm this week, so ship clean bright wire, #1, and clean coils now, but keep marginal or mixed grades until you can strip or sort for better spreads.
• Aluminum — Board is grinding higher and I was too cautious at $1.62, so use this strength to move segregated sheet, extrusion, and cans while keeping very dirty or mixed loads back for better prep.
• Big Picture — Mixed board today: 2 of 8 metals higher, 4 lower, 2 flat—sell strong base metals, be picky and patient on precious and PGMs.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $102.98/bbl, down $1.55 (-1.48%) day-over-day.

US Dollar Index (DXY): 99.29, up 0.32 (+0.32%) day-over-day.

Oil is easing but still high. Brent crude is just under $103, down about 1.5% from yesterday. Some Hormuz war risk is fading, but new outages in Kuwait keep a floor under prices. Fuel costs for trucking and shredders stay painful, not crisis-level.

The U.S. dollar is a bit stronger (DXY just under 100; USD/CAD near 1.38). That normally weighs on metals, but bond yields and inflation expectations both ticked lower, which takes some pressure off risk assets. The Fed is on hold, and auto production is creeping higher, which is good for steel and shred flows. Overall, energy risk is still there, but the tone has shifted from “panic” to “cautious,” which can support scrap demand if this holds.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,525/oz, down $18.23 (-0.40%) day-over-day. Previous close: $4,544/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold is at $4,525/oz today, down about 0.4% on the day but still very high, with gains in three of the last five sessions. The strong dollar and slightly easier oil (Brent around $103/bbl) are taking a bit of heat out of the market, but scrap sellers and recyclers are still looking at very rich payout levels compared with past years.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $75.94/oz, down $0.8310 (-1.08%) day-over-day. Previous close: $76.77/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 59.6:1.

Silver is at about $75.94/oz today, down a little over 1%, but it’s still held gains in 3 of the last 5 sessions. With the dollar firm and oil easing but still high, expect some chop, not a crash. Scrap sellers and recyclers may want to move material on any small pops, but avoid fire‑sale pricing unless your yard needs quick cash.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,931/oz, down $37.00 (-1.88%) day-over-day. Previous close: $1,968/oz. MoM: -6.7%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,339/oz, down $38.00 (-2.76%) day-over-day. Previous close: $1,377/oz. MoM: -12.5%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,650/oz, flat day-over-day. Previous close: $9,650/oz. MoM: -4.9%.
• Rhodium 5-day trend: ↓ 4 of last 5 sessions.

Platinum and palladium are both down today, but they have risen in three of the last five sessions, so converters still carry good value even with this dip. Rhodium is flat on the day but has slipped in four of the last five sessions, so sellers with high-rhodium cats may want to watch the board closely or move material before any deeper slide.

Copper — Current Indicators

• COMEX/Spot Copper: $6.35/lb, up +$0.0065 (+0.10%) day-over-day. Previous close: $6.35/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Copper is holding near record highs around $6.35/lb, edging up again and up in 4 of the last 5 sessions. With oil still high but easing and the dollar firm, yards are staying busy and paying strong, so most sellers can keep moving clean copper now rather than waiting for a big jump.

Aluminum — Current Indicators

• LME Aluminum: $3,646/tonne ($1.65/lb), up +$0.0034 (+0.21%) day-over-day. Previous close: $1.65/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum is around $1.65 per pound, just a touch higher today and up in 4 of the last 5 sessions. With oil still high but easing and the dollar firm, yards may stay cautious, so clean, sorted aluminum is worth moving on normal schedules, not rushing but not holding out for a big jump.

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.