SMASH Recycling Morning Metals Report – May 6, 2026

Prices as of May 06, 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.

Jump to:

• Gold — $4,689/oz ▲
• Silver — $76.56/oz ▲
• PGMs — Rh ▸ $9,950 · Pt ▲ $2,018 · Pd ▲ $1,524
• Copper — $6.18/lb ▲
• Aluminum — $1.61/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3617

SMASH Recycling Takeaways for Today

• Gold & Silver — Sell high-grade material now. Gold up 2.91% and silver up 5.22%. This momentum may not last through the week based on recent yield pressure patterns.
• PGMs — All three metals rallied today. Platinum (+3.43%), palladium (+3.39%), and rhodium (flat). Collect and process any available platinum-heavy scrap before sentiment shifts.
• Copper — Strong day at +3.21%. Lock in prices on clean copper wire and tubing if you have inventory. This 3.6% weekly gain suggests the rally is real, not a temporary spike.
• Aluminum — Down 0.79% and losing ground. Hold material for now. No urgency to sell into weakness heading into summer when construction demand should pick up.
• Big Picture — Five of eight metals higher today, showing broad strength across precious metals and copper—a rare alignment that favors sellers with mixed inventories.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $103.36/bbl, down $6.80 (-6.17%) day-over-day.

# Macro Backdrop — Energy and Risk

Oil prices fell $6.80 per barrel today, dropping 6.17% to $103.36. This pullback comes as Middle East tensions ease slightly and global markets digest mixed economic signals. Lower oil costs are good news for scrap yards. Diesel fuel and electricity for transportation and processing eat into your margins, so cheaper crude provides some breathing room this week.

However, watch the bigger picture. Middle East risks remain real, and any new flare-up could send prices spiking back up fast. Auto production is also slipping (down 3.98% recently), which means fewer vehicles entering the scrap stream. The Fed is holding rates steady at 3.64%, and inflation expectations remain stable at 2.47%. Canadian yards should note the USD/CAD rate at 1.3617. Tighter vehicle supplies may challenge volume, but steady fuel costs should help protect your processing margins short-term.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,689/oz, up +$132.56 (+2.91%) day-over-day. Previous close: $4,556/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold hit $4,689 per ounce today, up $133 or 2.9% from yesterday, climbing in 3 of the last 5 sessions. High prices are driving more scrap sellers to cash in old jewelry and electronics, boosting recycling volumes just like in past rallies. With oil easing to $103.36 per barrel as Middle East tensions cool, gold's safe-haven shine keeps scrap yards busy.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $76.56/oz, up +$3.80 (+5.22%) day-over-day. Previous close: $72.76/oz.
• 5-day trend: ↑ 4 of last 5 sessions.
• Gold/Silver ratio: 61.2:1.

Silver spot prices hit $76.56 per ounce today, up $3.80 or 5.22% from yesterday, climbing in 4 of the last 5 sessions. Scrap sellers and recyclers should sell now while demand from solar panels, electronics, and investors stays strong amid tight supplies. Easing Middle East tensions pulled oil to $103.36 per barrel, but silver's rally holds firm with the gold-silver ratio at 61.2:1.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,018/oz, up +$67.00 (+3.43%) day-over-day. Previous close: $1,951/oz. MoM: +1.7%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,524/oz, up +$50.00 (+3.39%) day-over-day. Previous close: $1,474/oz. MoM: +4.0%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,950/oz, flat day-over-day. Previous close: $9,950/oz. MoM: -1.5%.
• Rhodium 5-day trend: → flat over last 5 sessions.

Platinum and palladium prices rose today, up 3.4% to $2,018 and $1,524 per ounce. Rhodium held steady at $9,950 per ounce. Scrap sellers should get multiple quotes now as prices firm up, even with oil pulling back on easing tensions—recycling demand stays strong for catalytic converters.

Copper — Current Indicators

• COMEX/Spot Copper: $6.18/lb, up +$0.1920 (+3.21%) day-over-day. Previous close: $5.99/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Copper Market Update** Copper prices jumped to $6.18 per pound today, up about 19 cents or 3.2% as market conditions stabilize. The move reflects easing Middle East tensions and steady demand signals, though scrap sellers should watch for volatility as global economic mixed signals continue to flow through markets.

Aluminum — Current Indicators

• LME Aluminum: $3,547/tonne ($1.61/lb), down $0.0128 (-0.79%) day-over-day. Previous close: $1.62/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum prices dipped to $1.61 per pound today, down about 1 cent or 0.79%. Falling oil at $103.36 per barrel adds pressure as Middle East tensions ease and markets weigh mixed signals. My earlier call for a spike was wrong—prices only edged up slightly; hold scrap for now as summer demand builds slowly.

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): $325.00/mt (down $41.00 (-11.20%) day-over-day).

⚠️ Note: Silver (5.2%) show unusually large day-over-day moves. Illiquid markets (e.g. rhodium) can have wide bid-ask spreads; verify with multiple sources before acting.

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.