Scrap Metal Market Update: Sell Nonferrous Now as Silver & Platinum Slide

Scrap Metal Market Update: Precious Metals Under Heavy Pressure — Here's What to Do

If you're sitting on open nonferrous inventory right now, the market is sending you a clear message: move it sooner rather than later. The current macro backdrop — a stronger dollar, cautious Fed policy, and softer global demand — is hammering precious and specialty metals while leaving steel and shredded scrap largely untouched. Here's a breakdown of where every major metal stands and what it means for your yard.

Precious Metals Are Taking the Hardest Hit

The most urgent story in today's market is the steep selloff across precious metals. Silver has fallen 24.2% over the past 30 days, making it the weakest major complex by a significant margin. High volatility, fading industrial demand, and persistent negative short-term momentum all point to continued softness. This is classic behavior for silver in a risk-off, tightening macro environment — it tends to be the most vulnerable precious metal when investors get cautious.

Gold is down 11.6% over the same period, and while it's holding up better than silver on a relative basis, the 5-day trend remains negative. Rate-policy sensitivity and dollar strength are the key headwinds.

The platinum-group metals (PGMs) aren't faring much better. Platinum has dropped 18.7% and palladium is off 14.8% over 30 days, both reflecting continued weakness in automotive and catalyst demand on top of the broader macro pressure. Rhodium is also down approximately 14.5%. If you're holding silver-bearing material, platinum, palladium, or rhodium scrap, the risk of waiting is real and rising.

Base Metals: Mixed Picture, But Mostly Softer

Base metals tell a more nuanced story, though the overall bias is still to the downside.

Aluminium is the standout concern in this category, down 14.7% over 30 days. Tariff uncertainty, shifting supply dynamics, and China-linked demand risk are all contributing to the weakness. Sellers with aluminium exposure at spot pricing should treat this as an urgent signal.

Copper is relatively resilient at -5.8% over 30 days, but don't mistake that for bullish momentum — the 5-day trend is still negative. It's holding better than most, but a recovery isn't confirmed yet. Staged selling makes more sense here than either panic-selling or holding out for a rebound that may not come quickly.

Nickel is down 7.8%, while lead (-4.8%) and zinc (-1.2%) are comparatively steady. These metals don't carry the same urgent downside risk as the precious complex or aluminium, but they're not immune to the broader market tone either.

Steel and Shredded Scrap: A Rare Pocket of Stability

Here's the good news if your inventory leans ferrous: steel scrap is holding at $366/mt and shredded scrap at $413/mt, with zero movement over the past 30 days. In this environment, that kind of stability is notable. There's no immediate directional pressure in either direction, which means the opportunity in steel right now is about execution — not timing a price move.

Focus on optimizing freight costs, minimizing yard spread, and finding the right buyer rather than trying to chase a price trend that simply isn't there.

Key Takeaways

• Silver (-24.2%) and platinum (-18.7%) face the steepest near-term downside risk — move silver-bearing and PGM material quickly if you have open inventory.
• Aluminium (-14.7%) is the most urgent concern in base metals — prioritize sales before further downside.
• Gold (-11.6%) and palladium (-14.8%) remain under pressure despite holding up slightly better than silver and platinum.
• Copper (-5.8%) can be sold selectively, but don't assume a bounce is imminent — momentum is still negative.
• Steel and shredded scrap are flat and stable — focus on logistics and execution, not direction.
• Lead and zinc carry the least near-term downside risk among the metals covered.
• Watch macro catalysts closely: Fed policy decisions, tariff developments, geopolitics, and China demand data are the primary swing factors for the next move across all metals.

What This Means for Scrap Sellers

The priority right now is straightforward: reduce exposure to the metals with the most momentum working against you. Silver, platinum-group metals, and aluminium top that list. If you're holding these materials and waiting for prices to recover, the current data doesn't support that patience — volatility is elevated and short-term trends are still pointing lower.

For ferrous material, use the current stability to sharpen your logistics and buyer relationships rather than timing the market. And across all categories, stay close to the headlines — this is a market where a single Fed announcement or a shift in China's demand outlook can move prices meaningfully in either direction.

The sellers who come out ahead in environments like this aren't necessarily the ones with the best material — they're the ones with the fastest, most competitive access to buyers.

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