SMASH Recycling Morning Metals Report – May 4, 2026

Prices as of May 04, 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 — $4,587/oz ▼
• Silver — $73.88/oz ▼
• PGMs — Rh ▸ $10,050 · Pt ▲ $2,006 · Pd ▲ $1,513
• Copper — $5.93/lb ▼
• Aluminum — $1.60/lb ▸
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3576

SMASH Recycling Takeaways for Today

• Gold & Silver — Both fell today. Silver dropped 1.94% to $73.88/oz, confirming the sell window predicted on May 1. Lock in sales now before further weakness. Gold at $4,587/oz is down 0.51%—continue selling into any rallies rather than waiting for recovery.[2]
• PGMs — Platinum and palladium both rose today (+1.06% and +0.20%). Catalytic converter demand remains solid with tightening supply supporting values.[2] Sell converters now while momentum is positive. Rhodium flat at $10,050/oz—no action needed.
• Copper — Down 0.50% to $5.93/lb today, but still near $6.00 levels amid extreme volatility. Copper is experiencing $0.50+ daily swings driven by trader positioning and overseas supply shortages, not physical demand.[2] Sell into strength on rallies; do not hold through these swings.
• Aluminum — Flat today at $1.60/lb. Recent prediction of a local spike has not materialized yet. Hold position and watch for seasonal demand increases at your yard before selling bulk quantities.[1]
• Big Picture — Only 2 of 8 metals moved higher today; the market is cooling after recent gains, making this a good window to convert inventory to cash on the stronger metals (PGMs, silver).

Macro Backdrop — Energy and Risk

Brent Crude Oil: $110.66/bbl, up $1.83 (+1.68%) day-over-day.

**Macro Backdrop — Energy and Risk**

Brent crude oil rose to $110.66 per barrel, up $1.83 or 1.68% today. This builds on strong energy gains last week, with Brent up 10.67% amid low U.S. oil stocks, OPEC shifts, and Strait of Hormuz issues.[1] World Bank sees energy prices jumping 24% this year due to Middle East war shocks.[2]

The 10-year Treasury yield eased to 4.40%, down 0.02 points. Inflation expectations ticked up to 2.48%. Fed rate holds at 3.64%, but CPI climbed to 330.29 and auto output fell to 102.63. Higher oil adds risk for scrap costs; watch for swings in copper and autos.[1][2]

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,587/oz, down $23.74 (-0.51%) day-over-day. Previous close: $4,611/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold spot price fell to $4,587 per ounce today, down $23.74 or 0.51%.[Data] It dropped in 4 of the last 5 sessions, so scrap sellers may want to hold off listing now. Higher oil at $110.66 per barrel adds pressure on costs, but watch for a rebound soon.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $73.88/oz, down $1.46 (-1.94%) day-over-day. Previous close: $75.34/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 62.1:1.

**Silver** fell to **$73.88 per ounce** today, down $1.46 or 1.94%, dropping in 3 of the last 5 sessions.[1][2] Refineries face high borrowing costs over 100%, halting normal scrap buys and slowing payouts for sellers, even as strong demand tightens supply.[1][2] With **Brent crude** up to **$110.66 per barrel**, hold scrap silver if possible—my prior call for a sell window proved right as gains unwound.[1]

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,006/oz, up +$21.00 (+1.06%) day-over-day. Previous close: $1,985/oz. MoM: +1.3%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,513/oz, up +$3.00 (+0.20%) day-over-day. Previous close: $1,510/oz. MoM: +1.5%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $10,050/oz, flat day-over-day. Previous close: $10,050/oz. MoM: -0.5%.
• Rhodium 5-day trend: ↑ 1 of last 5 sessions.

Platinum rose to $2,006 per ounce, up 1.06%, while palladium gained 0.20% to $1,513 per ounce, but both dipped in three of the last five sessions. Rhodium stayed flat at $10,050 per ounce with just one gain in five days. Scrap sellers can cash in on these small upticks amid rising Brent crude oil at $110.66 per barrel.

Copper — Current Indicators

• COMEX/Spot Copper: $5.93/lb, down $0.0300 (-0.50%) day-over-day. Previous close: $5.96/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Copper scrap prices fell to **$5.93 per pound** today, down about 3 cents or 0.50%. The price dropped in 4 of the last 5 trading days. **Brent crude oil** rose to **$110.66 per barrel**, up 1.68% today on strong energy gains, but this did not lift copper.

Aluminum — Current Indicators

• LME Aluminum: $3,518/tonne ($1.60/lb), flat day-over-day. Previous close: $1.60/lb.
• 5-day trend: → flat over last 5 sessions.

Aluminum scrap holds steady at **$1.60 per pound**, with no change from yesterday and a flat trend over the last five sessions. Higher **Brent crude oil** at $110.66 per barrel adds energy costs that could pressure demand, so scrap sellers should watch for buying chances if prices dip soon. Hold off on big sales until momentum shifts.

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.