SMASH Recycling Morning Metals Report – May 26, 2026

Prices as of May 26, 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 — $4,507/oz ▲
• Silver — $75.93/oz ▲
• PGMs — Rh ▼ $9,400 · Pt ▲ $1,945 · Pd ▲ $1,371
• Copper — $6.39/lb ▲
• Aluminum — $1.67/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3804

SMASH Recycling Takeaways for Today

• Gold & Silver — Use today’s small uptick to clear older, low-grade jewelry and silverware, but keep higher-grade pieces flexible in case of another short pop.
• PGMs — With platinum and palladium popping while rhodium slips, quote converters and cats more aggressively today and move mixed PGM lots rather than gambling on a perfect rebound.
• Copper — Board is holding firm after my earlier “downside” call was proven wrong, so lean into this strength and ship clean copper and brass now before mills or yards widen spreads.
• Aluminum — Follow through on the “grinding higher” trend: move segregated cast, sheet, and extrusion while buyers are still bidding up, and don’t wait for a big spike that may not come.
• Big Picture — Five of eight metals are higher today, so treat this as a seller’s day and use the broad lift to tidy inventories and lock in cash on any borderline material.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $95.92/bbl, down $8.02 (-7.72%) day-over-day.

US Dollar Index (DXY): 99.11, flat day-over-day.

**Energy costs are lower today.** Brent crude fell to **$95.92** a barrel, down **7.72%**, which can ease pressure on scrap moves tied to freight, fuel, and mill costs.[1] The U.S. dollar is steady, with **DXY at 99.11** and **USD/CAD at 1.3804**, so currency swings are not adding much new noise right now.[1]

**Risk tone is mixed, not hot.** The **10-year yield is 4.57%**, while inflation expectations are **2.40%**, which keeps the market focused on rates and growth.[1] Auto production is up to **108.59**, a small support for metal demand, but the earlier energy-cost push has not shown a clear pass-through to scrap prices yet.[1]

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,507/oz, up +$0.8000 (+0.02%) day-over-day. Previous close: $4,507/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold is holding steady at **$4,507/oz**, up about **80 cents** today, and has risen in **3 of the last 5 sessions**. With **energy costs moving lower and oil at $95.92**, scrap sellers and recyclers can expect tight but stable bids, so small rallies like today may be good chances to move clean, well-graded gold material.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $75.93/oz, up +$0.3945 (+0.52%) day-over-day. Previous close: $75.54/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 59.4:1.

Silver is trading near **$75.93/oz**, up about **39 cents** today, and has moved higher in **3 of the last 5 sessions**, so this is a mild upswing rather than a big spike. With **energy costs lower** and oil down to **$95.92/bbl**, freight and fuel pressure eases a bit, so scrap sellers who like to “sell into strength” can use this small rally to move silver-bearing scrap while prices are still firm.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,945/oz, up +$25.00 (+1.30%) day-over-day. Previous close: $1,920/oz. MoM: -3.3%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,371/oz, up +$37.00 (+2.77%) day-over-day. Previous close: $1,334/oz. MoM: -7.6%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,400/oz, down $250.00 (-2.59%) day-over-day. Previous close: $9,650/oz. MoM: -6.5%.
• Rhodium 5-day trend: ↓ 4 of last 5 sessions.

PGM markets are firmer for **platinum** and **palladium** today, which can help scrap sellers see better offers on those units.[4] Platinum is at **$1,945/oz** and palladium is at **$1,371/oz**, while rhodium is softer at **$9,400/oz**; lower Brent crude at **$95.92/bbl** may also ease some cost pressure tied to scrap moves.[4]

Copper — Current Indicators

• COMEX/Spot Copper: $6.39/lb, up +$0.0070 (+0.11%) day-over-day. Previous close: $6.38/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Copper is at **$6.39/lb**, up just a hair today, and the short-term trend is still firm with **4 of the last 5 sessions higher**[1]. For scrap sellers, that points to a steady market, while **lower Brent oil at $95.92** can help keep freight and mill costs a bit lighter[1].

Aluminum — Current Indicators

• LME Aluminum: $3,678/tonne ($1.67/lb), up +$0.0124 (+0.75%) day-over-day. Previous close: $1.66/lb.
• 5-day trend: ↑ 5 of last 5 sessions.

Aluminum is **up** today at **$1.67/lb**, adding about **1 cent** and marking its **fifth straight gain**. For scrap sellers, that is a firmer market, but lower energy costs and cheaper Brent crude at **$95.92/bbl** may help keep big cost pressure in check.

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.