Smash Scrap Morning Metals Report – April 1, 2026

Prices as of April 01, 2026 at 12:31 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 — $4,734/oz ▲
• Silver — $74.89/oz ▼
• PGMs — Rh ▼ $10,100 · Pt ▲ $1,965 · Pd ▼ $1,465
• Copper — $5.60/lb ▼
• Aluminum — $1.59/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3939

Smash Scrap Takeaways for Today

• Gold & Silver — Gold hit $4,734/oz (up $60), confirming our models' bullish call. Silver dropped 46 cents to $74.89/oz but remains well above recent lows. Detroit and Chicago buyers should take advantage of gold's momentum while holding silver inventory for better pricing.
• PGMs — Mixed signals across platinum group metals. Platinum gained $8 to $1,965/oz, but palladium fell $6 to $1,465/oz and rhodium dropped $300 to $10,100/oz. Houston auto recyclers should prioritize platinum sales while holding palladium and rhodium until volatility settles.
• Copper — Copper fell 5 cents to $5.60/lb, continuing recent weakness. Los Angeles and Atlanta industrial sellers should clear inventory quickly before further declines, as oversupply pressures persist despite aluminum's strength.
• Aluminum — Strong performer today, up 3 cents to $1.59/lb with a solid 1.95% gain. Philadelphia and Cleveland scrap yards should capitalize on this momentum and list premium aluminum loads immediately while buyers are active.
• Big Picture — Mixed market with 3 of 8 metals higher today, showing selective strength in precious metals and aluminum while industrial metals remain under pressure.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $101.68/bbl, down $2.35 (-2.26%) day-over-day.

Oil's $2.35 slide reflects growing concerns about global demand as manufacturing data from key economies continues to disappoint. The weaker dollar and falling Treasury yields suggest markets are pricing in slower growth ahead, which typically pressures industrial commodity demand. This combination creates mixed signals for scrap markets across major trading hubs.

The energy pullback should ease some cost pressures for scrap processors in Detroit and Chicago, where transportation and processing expenses have been elevated. However, the broader macro backdrop suggests caution as industrial buyers may slow purchasing if economic data continues weakening. Houston and Los Angeles yards should monitor how the oil decline affects regional petrochemical activity, as lower energy costs could eventually support increased manufacturing demand for recycled materials. The Federal Reserve's steady stance at 3.64% keeps financing costs manageable for larger scrap operations, though inflation expectations remain contained at 2.30%.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,734/oz, up +$59.82 (+1.28%) day-over-day. Previous close: $4,675/oz.
• 5-day trend: ↑ 4 of last 5 sessions.

Gold's steady climb continues as the precious metal gains momentum amid concerns about slowing global growth, with scrap sellers from Detroit to Los Angeles seeing improved pricing at local yards. The weaker dollar environment is supporting gold's safe-haven appeal, making this an opportune time for jewelers and e-waste recyclers to move accumulated inventory. With gold showing strength in four of the last five trading sessions, industrial scrap buyers in Chicago and Houston are maintaining competitive bid spreads as demand for the metal remains solid.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $74.89/oz, down $0.4640 (-0.62%) day-over-day. Previous close: $75.35/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 63.2:1.

Silver dipped today as weaker global manufacturing data and falling oil prices signal slower industrial demand ahead, which pressures the metal's dual role as both a precious and industrial commodity. The pullback creates better entry opportunities for electronics recyclers and solar panel scrap sellers in Detroit and Chicago, especially with the gold/silver ratio at 63:1 showing silver remains relatively cheap compared to gold. Despite today's decline, silver has shown strength recently with gains in three of the last five sessions, suggesting industrial buyers in Houston and Atlanta may step in at these levels for both jewelry scrap and electronic components containing silver.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,965/oz, up +$8.00 (+0.41%) day-over-day. Previous close: $1,957/oz. MoM: -14.8%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,465/oz, down $6.00 (-0.41%) day-over-day. Previous close: $1,471/oz. MoM: -16.8%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $10,100/oz, down $300.00 (-2.88%) day-over-day. Previous close: $10,400/oz. MoM: -16.2%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

Mixed signals hit precious metals markets as global growth concerns weigh on industrial demand. Platinum edged up $8 while rhodium dropped $300 and palladium slipped $6, reflecting the uncertain outlook for automotive production that drives PGM consumption. With oil falling amid manufacturing weakness, scrap sellers in Detroit and Chicago should expect buyers to remain cautious on larger rhodium lots, though platinum's recent strength suggests steady demand from Atlanta and Houston refiners for catalytic converter material.

Copper — Current Indicators

• COMEX/Spot Copper: $5.60/lb, down $0.0500 (-0.88%) day-over-day. Previous close: $5.65/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper dropped about 5 cents today as weaker manufacturing data continues pressuring industrial metals, aligning with the broader slowdown concerns hitting oil and other commodities. Detroit and Chicago scrap yards should expect slightly lower offers for #1 and #2 copper, though the decline remains modest compared to recent volatility that saw copper swing from $5.41 to over $5.60 in just over a week. Bare bright and copper wire sellers in Houston and Los Angeles may find buyers taking a more cautious approach as the metal has declined in three of the past five trading sessions, suggesting the industrial demand outlook is becoming cloudier.

Aluminum — Current Indicators

• LME Aluminum: $3,496/tonne ($1.59/lb), up +$0.0304 (+1.95%) day-over-day. Previous close: $1.56/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum prices gained about three cents per pound, extending the metal's strong recent momentum despite broader concerns about industrial demand. The move higher suggests scrap buyers in Detroit, Chicago, and other industrial centers are still competing for material, particularly benefiting sellers of cast and extrusion grades that remain in steady demand. With oil prices sliding on growth worries, aluminum's resilience indicates supply tightening continues to outweigh demand concerns for now, though scrap sellers should monitor whether this uptrend can hold if manufacturing data keeps disappointing.

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 Scrap and let vetted buyers compete for your scrap.