SMASH Recycling Morning Metals Report – September 16, 2026

[DATA ALERT: Silver: settled +0.86% away from the 2026-09-15 morning print ($63.15 -> $63.69) — this move was never published in an article (unpublished settle step); Platinum: settled +1.31% away from the 2026-09-15 morning print ($1,755.00 -> $1,778.00) — this move was never published in an article (unpublished settle step); Palladium: settled +1.18% away from the 2026-09-15 morning print ($1,272.00 -> $1,287.00) — this move was never published in an article (unpublished settle step); Copper: settled +0.94% away from the 2026-09-15 morning print ($6.41 -> $6.47) — this move was never published in an article (unpublished settle step) — verify before publishing]

Prices as of September 16, 2026 at 07:31 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.

Jump to:

• Gold — $4,339/oz ▲
• Silver — $64.54/oz ▲
• PGMs — Rh ▸ $9,550 · Pt ▲ $1,785 · Pd ▲ $1,289
• Copper — $6.51/lb ▲
• Aluminum — $1.49/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3917

SMASH Recycling Takeaways for Today

• Gold & Silver — Prices are up. Move clean cats, boards, and jewelry sooner, and push buyers on premiums instead of taking first bids.
• PGMs — With platinum and palladium creeping higher and rhodium flat, tighten spreads on converters and cores and run tighter VIN and serial checks before you lock a load.
• Copper — Copper is a few cents stronger. Use SMASH to auction clean wire and #1 loads instead of locking in with one yard buyer on the phone.
• Aluminum — Aluminum is inching up. Group your clean extrusion and cast, document with photos and packing lists, and push for competitive bids instead of rolling old price sheets.
• Big Picture — Six of eight metals are higher today, so you should lean into well-documented, competitive auctions and avoid quiet single-buyer deals.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $107.44/bbl, down $0.8800 (-0.81%) day-over-day.

US Dollar Index (DXY): 99.71, up 0.59 (+0.60%) day-over-day.

**Oil is still rich, but the risk trade is getting tight.**

Brent sits around **$107**, off less than a buck, but still high for yards that burn diesel and move iron. The bigger story is the **strong dollar**: DXY up 0.6%, USD broad index creeping higher, and USD/CAD at **1.39** makes U.S. buyers’ money go further, but squeezes non‑U.S. demand.

Yields keep grinding up. The 10‑year is just under **5%**, with real yields near **2.6%**, which is tough on gold, silver, and anything that trades like a risk asset. Fed funds are stuck at 3.63%, but the bond market is doing the tightening for them. For scrap, this backdrop favors **cash buyers with strong dollars** and keeps leverage, speculation, and weak hands on a short leash.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,339/oz, up +$45.10 (+1.05%) day-over-day. Previous close: $4,294/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

**Gold is still hot, but the tape is choppy.** At **$4,339/oz**, up **$45.10** today, sellers have a strong number on the board. But with **3 of the last 5 sessions down**, buyers may still get picky on scrap gold until the move settles.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $64.54/oz, up +$0.8480 (+1.33%) day-over-day. Previous close: $63.69/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 67.2:1.

Silver is up to about **$64.54/oz**, adding roughly 85 cents today, with gains in 3 of the last 5 sessions. The move is firm but not wild, and the gold/silver ratio near **67:1** says silver still isn’t running too hot against gold, even with oil up around **$107** and the dollar staying strong. If you’ve got silver loads or cores ready, this is a decent spot to test the market, but buyers will still look hard at your photos and paperwork before they stretch.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,785/oz, up +$7.00 (+0.39%) day-over-day. Previous close: $1,778/oz. MoM: +2.5%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,289/oz, up +$2.00 (+0.16%) day-over-day. Previous close: $1,287/oz. MoM: -2.3%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,550/oz, flat day-over-day. Previous close: $9,550/oz. MoM: +9.2%.
• Rhodium 5-day trend: → flat over last 5 sessions.

**PGM prices are firm, but not flying, so buyers still have room to haggle.** Platinum and palladium are both up a touch, with three green sessions in the last five, so cats and PGM loads have a bit more support, but this is a slow grind, not a spike.[Platinum][Palladium] Rhodium is stuck in neutral, flat around $9,550, and with diesel still pricey off $107 Brent, yards need to stay tight on grading and recover every ounce they can.[Rhodium][Brent]

Copper — Current Indicators

• COMEX/Spot Copper: $6.51/lb, up +$0.0450 (+0.70%) day-over-day. Previous close: $6.47/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper is up again, around **$6.51/lb**, about four cents higher today and firmer in 3 of the last 5 sessions. With the dollar strong and Brent still rich near **$107**, you should expect buyers to stay picky on spreads, but the up move gives you a bit more room to test bids on clean chops and bright.

Aluminum — Current Indicators

• LME Aluminum: $3,276/tonne ($1.49/lb), up +$0.0107 (+0.73%) day-over-day. Previous close: $1.48/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum is up today, but the move is small and the short trend is still soft. You’re getting about **$1.49/lb**, up just a penny, after falling in 3 of the last 5 sessions, so don’t expect buyers to chase every mixed load. With the dollar firm and oil still rich, expect tight bids and picky grading, especially on dirty cast and mixed non-ferrous.

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.