Smash Scrap Morning Metals Report – April 10, 2026

Prices as of April 10, 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 — $4,761/oz ▼
• Silver — $76.08/oz ▲
• PGMs — Rh ▸ $10,200 · Pt ▼ $2,069 · Pd ▼ $1,512
• Copper — $5.89/lb ▲
• Aluminum — $1.58/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3821

Smash Scrap Takeaways for Today

• Gold & Silver — Gold slipped $3.55 to $4,761/oz while silver gained 73 cents to $76.08/oz. Detroit and Chicago dealers should hold gold inventory as the minor 0.07% decline suggests consolidation rather than breakdown. Silver's nearly 1% gain continues the upward momentum we predicted — list silver scrap now to capture this $76+ pricing.
• PGMs — Platinum dropped $20 to $2,069/oz and palladium fell $18 to $1,512/oz, both down around 1%. Our models expected PGM volatility to settle, but today's weakness appears temporary. Atlanta and Los Angeles auto cat processors should wait for stabilization before major platinum sales, while rhodium holds steady at $10,200/oz.
• Copper — Strong 13-cent gain pushed copper to $5.89/lb, up over 2%. Houston and Philadelphia industrial buyers are raising offers as our models correctly called copper's breakout from consolidation. Chinese demand signals are strengthening — sell copper scrap immediately at these elevated levels.
• Aluminum — Aluminum rose 2 cents to $1.58/lb, gaining 1.3% as supply-side tightening continues supporting prices. Cleveland and Pittsburgh recyclers should list aluminum inventory now, as energy-intensive primary production costs keep scrap values attractive to industrial buyers.
• Big Picture — Mixed market with 3 of 8 metals higher today, led by copper's 2.3% surge while precious metals and PGMs mostly declined.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $95.34/bbl, down $1.13 (-1.17%) day-over-day.

Oil fell $1.13 overnight as hopes for Middle East ceasefire talks gained momentum, reducing supply disruption fears that had pushed crude higher earlier this week. The pullback comes as markets digest mixed signals from Federal Reserve policy, with 10-year yields declining to 4.29% while inflation expectations tick slightly higher to 2.34%.

Lower energy costs should provide some relief for scrap transportation and processing operations across Detroit, Chicago, and Houston markets over the coming weeks. However, the broader macro picture remains mixed for industrial metals demand. While reduced geopolitical tensions could boost manufacturing confidence and copper demand, the dollar's recent weakness (index at 90.82) makes imported raw materials more expensive, potentially increasing the relative value of domestic scrap supplies. Dealers in Los Angeles and Atlanta should watch for gradual pricing adjustments as energy cost changes work through the supply chain.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,761/oz, down $3.55 (-0.07%) day-over-day. Previous close: $4,765/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold edged slightly lower as Middle East ceasefire hopes reduced safe-haven demand, giving back a small portion of recent gains that pushed the precious metal above $4,760 earlier this week. For scrap sellers across Detroit, Houston, and Atlanta markets, the minor pullback doesn't signal a major trend shift, especially with gold still holding near historically elevated levels that make jewelry buyback programs and e-waste recovery highly profitable. The decline reflects reduced geopolitical premium rather than fundamental weakness, suggesting scrap dealers should continue processing inventory as gold maintains strong underlying support from central bank purchases and inflation hedging demand.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $76.08/oz, up +$0.7280 (+0.97%) day-over-day. Previous close: $75.36/oz.
• 5-day trend: ↑ 4 of last 5 sessions.
• Gold/Silver ratio: 62.6:1.

Silver climbed higher as Middle East ceasefire talks helped ease some of the geopolitical tensions that had been weighing on industrial metals earlier this week. The move brings silver closer to recent highs, which is good news for electronics recyclers and auto dismantlers in Chicago and Detroit who have been holding inventory - your scrap silver from catalytic converters, circuit boards, and solar panel components should fetch better prices. With the gold-to-silver ratio at 62.6-to-1, silver remains relatively attractive compared to gold, suggesting industrial buyers may continue favoring silver-bearing scrap as supply chains stabilize.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,069/oz, down $20.00 (-0.96%) day-over-day. Previous close: $2,089/oz. MoM: -4.2%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,512/oz, down $18.00 (-1.18%) day-over-day. Previous close: $1,530/oz. MoM: -6.4%.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $10,200/oz, flat day-over-day. Previous close: $10,200/oz. MoM: -11.3%.
• Rhodium 5-day trend: ↑ 1 of last 5 sessions.

Precious metals from catalytic converters faced mixed pressure today as platinum dropped $20 and palladium fell $18, while rhodium held steady at current levels. The declines come as oil prices retreated on Middle East ceasefire optimism, reducing some of the supply disruption fears that had supported metals earlier this week. Detroit and Chicago auto recyclers should note that platinum's recent strength over five sessions suggests underlying automotive demand remains solid despite today's pullback, while palladium's weaker trend may signal softer industrial buying from processors in Houston and Atlanta markets.

Copper — Current Indicators

• COMEX/Spot Copper: $5.89/lb, up +$0.1310 (+2.28%) day-over-day. Previous close: $5.76/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Copper gained about 13 cents today as Middle East ceasefire hopes helped ease energy costs, improving margins for scrap processing operations across Detroit, Chicago, and Houston yards. The strong momentum continues my Friday prediction that copper's breakout from consolidation would persist, with 4 of the last 5 sessions showing gains as Chinese demand signals strengthen. Scrap dealers should expect steady pricing from industrial buyers for #1 and #2 copper, bare bright, and copper wire, as the combination of lower energy costs and solid industrial demand creates favorable conditions for both sellers and processors in major markets like Los Angeles and Philadelphia.

Aluminum — Current Indicators

• LME Aluminum: $3,491/tonne ($1.58/lb), up +$0.0206 (+1.32%) day-over-day. Previous close: $1.56/lb.
• 5-day trend: → flat over last 5 sessions.

Aluminum gained about two cents, reaching its highest level in recent sessions as supply-side tightening continues to support prices despite easing geopolitical tensions that pulled oil lower. Scrap sellers in Detroit, Chicago, and Pittsburgh should see steady demand from regional buyers, particularly for cast aluminum from auto recyclers as manufacturing activity remains resilient. The modest gain suggests aluminum's industrial fundamentals are holding firm, with sheet and extrusion sellers across Houston and Los Angeles markets likely to maintain current pricing levels through the weekend.

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.