SMASH Recycling Morning Metals Report – September 2, 2026

[DATA ALERT: Silver: feed suspect — screen $64.51 diverges 98.5% from independent spot $4,311.00 (threshold 2.5%); Platinum: feed suspect — screen $1,736.00 diverges 59.7% from independent spot $4,311.00 (threshold 2.5%); Palladium: feed suspect — screen $1,308.00 diverges 69.7% from independent spot $4,311.00 (threshold 2.5%); Copper: feed suspect — screen $6.60 diverges 99.8% from independent spot $4,311.00 (threshold 2.5%) — verify before publishing]

Prices as of September 02, 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.

Jump to:

• Gold — $4,340/oz ▲
• Silver — $64.51/oz ▲
• PGMs — Rh ▲ $9,200 · Pt ▲ $1,736 · Pd ▲ $1,308
• Copper — $6.60/lb ▲
• Aluminum — $1.48/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3896

SMASH Recycling Takeaways for Today

• Gold & Silver — Use today’s bounce to move clean, well-documented precious loads; don’t wait for another leg higher after last week’s drop.
• PGMs — Tighten grading and documentation on cats and cores; given my recent wrong “move now” calls, stagger sales instead of dumping everything today.
• Copper — With copper up about 7 cents, push non-ferrous loads with clean BOLs and photos into auctions to test buyer appetite.
• Aluminum — With prices slipping, hold marginal, dirty aluminum and focus on moving higher-grade non-ferrous where buyers are competing.
• Big Picture — Six of eight metals are higher today; lean into competition and auctions to let more buyers reveal the real market.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $94.11/bbl, down $1.18 (-1.24%) day-over-day.

US Dollar Index (DXY): 99.76, up 0.33 (+0.33%) day-over-day.

**Oil is still rich, but the air pocket is real.**

Brent sits near $94, but it slipped over a buck overnight. Energy is still pricey for torch work and trucking, but it is not a straight line up. Fuel staying under $100 helps yards run, but demand risk is creeping in.

The dollar is firm and rates stay high. 10‑year is near 4.75% and real yields are around 2.4%, so cash pays and metal has competition. Fed has not moved, but higher inflation expectations keep hike talk alive. Bottom line for you: carry risk costs more, and buyers will stay picky on tons that tie up balance sheets.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,340/oz, up +$12.70 (+0.29%) day-over-day. Previous close: $4,327/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold is up a bit today at **$4,340/oz**, but the short-term trend is still soft. You’ve got a green day, yet gold has dropped four of the last five sessions and the stronger dollar is still a headwind, even with Brent crude holding rich near **$94.11/bbl**. For sellers, expect buyers to stay picky on grading and recovery; this is a market for clean, well-documented material, not wishful pricing on mixed gold loads.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $64.51/oz, up +$0.4525 (+0.71%) day-over-day. Previous close: $64.06/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 67.3:1.

**Silver caught a small bounce today, but the short-term trend is still soft.** Spot sits near **$64.51/oz**, up about **45 cents** on the day, with 3 of the last 5 sessions closing higher, but still below last week’s levels. The **gold/silver ratio near 67:1** and a **stronger dollar** tell you buyers still have the upper hand, so expect tight bids on your silver-bearing scrap and be ready to sharpen your numbers on mixed loads.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,736/oz, up +$1.00 (+0.06%) day-over-day. Previous close: $1,735/oz. MoM: +6.7%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,308/oz, up +$23.00 (+1.79%) day-over-day. Previous close: $1,285/oz. MoM: +3.9%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,200/oz, up +$50.00 (+0.55%) day-over-day. Previous close: $9,150/oz. MoM: +11.5%.
• Rhodium 5-day trend: ↑ 5 of last 5 sessions.

PGM prices are mixed, so you need to stay sharp on cats and cores. Platinum is soft after a recent slide, even with a tiny uptick today, so don’t expect buyers to chase weak loads. Palladium and rhodium are both ticking up, with rhodium running hotter, so clean, well-documented converters will still draw the best bids in this choppy, risk-off tape.

Copper — Current Indicators

• COMEX/Spot Copper: $6.60/lb, up +$0.0690 (+1.06%) day-over-day. Previous close: $6.54/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper is grinding higher, now around **$6.60/lb**, up about seven cents today. With oil still rich near **$94/bbl** and the dollar firmer, this move looks like steady buying, not a panic spike. Copper has been up in **3 of the last 5 sessions**, so expect buyers to stay picky on grades while they test these levels.

Aluminum — Current Indicators

• LME Aluminum: $3,259/tonne ($1.48/lb), down $0.0088 (-0.59%) day-over-day. Previous close: $1.49/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Aluminum is soft today, but the drop is tiny.** Payout sits near **$1.48/lb**, down less than a cent, after rising in 3 of the last 5 sessions. Oil is still rich around **$94 Brent**, and the stronger dollar is a headwind, so buyers will stay picky on specs and paperwork.

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.