Smash Scrap Morning Metals Report – April 16, 2026

Prices as of April 16, 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.

Jump to:

• Gold — $4,811/oz ▲
• Silver — $79.26/oz ▲
• PGMs — Rh ▸ $9,950 · Pt ▲ $2,132 · Pd ▲ $1,563
• Copper — $6.08/lb ▲
• Aluminum — $1.65/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3746

Smash Scrap Takeaways for Today

• Gold & Silver — Hold gold at $4,811/oz after today's small $7 gain. Silver barely moved up less than a penny to $79.26/oz. Both metals lack clear direction right now.
• PGMs — Sell palladium now at $1,563/oz while it's up $17 today. Our models called palladium higher and were confirmed. Platinum gained $20 to $2,132/oz but shows mixed signals. Rhodium stayed flat at $9,950/oz.
• Copper — Wait before listing heavy tonnage. Copper only rose 2 cents to $6.08/lb today. The recent rally needs time to stabilize before major sales.
• Aluminum — List aluminum inventory immediately at $1.65/lb. The metal gained less than a penny but shows steady infrastructure demand supporting prices.
• Big Picture — Mixed day with 4 metals higher, 4 flat as markets pause after recent gains.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $95.75/bbl, up $0.9400 (+0.99%) day-over-day.

Oil jumped 94 cents higher as Middle East tensions continue driving energy costs up across industrial supply chains. The Strait of Hormuz disruptions that have been squeezing sulfur exports are now creating broader commodity flow concerns, pushing Brent above $95 for the first time in weeks. This energy surge directly hits scrap transportation costs for Detroit and Chicago yards, while also supporting the case for recycled aluminum over energy-intensive primary production.

The macro backdrop shows mixed signals with the dollar weakening slightly and Treasury yields pulling back from recent highs. Inflation expectations ticked up 2 basis points to 2.39%, which typically supports hard assets like metals. However, the Fed's unchanged rate stance at 3.64% keeps financing costs elevated for inventory-heavy operations in Houston and Los Angeles. Energy-driven cost pressures are starting to outweigh industrial demand signals, suggesting Pittsburgh steel processors and Atlanta auto recyclers should expect continued margin compression if oil holds above $95. The key question is whether this energy rally translates into safe-haven buying for precious metals or simply adds cost pressure across the scrap complex.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,811/oz, up +$7.30 (+0.15%) day-over-day. Previous close: $4,804/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold gained $7.30 today to reach $4,811 per ounce as Middle East tensions continue driving safe-haven demand alongside rising oil costs. Detroit and Chicago scrap gold dealers should note that despite gold falling in three of the last five sessions, the metal is finding support above $4,800 as investors seek protection from energy supply disruptions. The current environment of geopolitical uncertainty and higher industrial costs typically benefits precious metals recyclers and e-waste processors dealing with circuit boards and electronic components.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $79.26/oz, up +$0.0045 (+0.01%) day-over-day. Previous close: $79.25/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 60.7:1.

Silver barely budged today, adding just half a penny to reach $79.26 per ounce as Middle East tensions continue driving energy costs higher across industrial supply chains. Electronics recyclers and scrap dealers should note that silver's dual role as both a precious metal and industrial input makes it sensitive to energy price swings that affect manufacturing costs. The gold-silver ratio sits at 60.7-to-1, suggesting silver remains relatively expensive compared to gold despite recent sideways trading.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,132/oz, up +$20.00 (+0.95%) day-over-day. Previous close: $2,112/oz. MoM: +0.5%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,563/oz, up +$17.00 (+1.10%) day-over-day. Previous close: $1,546/oz. MoM: -1.1%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,950/oz, flat day-over-day. Previous close: $9,950/oz. MoM: -12.7%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

Platinum and palladium both gained ground today, with platinum up $20 and palladium rising $17 as Middle East tensions continue supporting industrial metals. Both metals have shown strong momentum recently, with platinum rising 4 of the last 5 sessions and palladium up 3 of 5 days. Rhodium held steady at $9,950 per ounce but has weakened 2 of the past 5 sessions, suggesting some profit-taking after recent gains.

Copper — Current Indicators

• COMEX/Spot Copper: $6.08/lb, up +$0.0020 (+0.03%) day-over-day. Previous close: $6.08/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Copper edged up barely 2 cents to $6.08 per pound as Middle East tensions continue driving energy costs higher across industrial supply chains. The tiny gain follows four straight sessions of increases, suggesting steady demand from auto recyclers and wire strippers despite ongoing supply chain pressures. Detroit and Houston scrap yards should expect continued interest in #1 and #2 copper as higher oil costs make primary production more expensive, keeping recycled material competitive for manufacturers.

Aluminum — Current Indicators

• LME Aluminum: $3,639/tonne ($1.65/lb), up +$0.0085 (+0.52%) day-over-day. Previous close: $1.64/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum edged up less than a cent to $1.65 per pound as Middle East tensions continue pushing energy costs higher across industrial supply chains. The slight gain builds on aluminum's recent strength, with the metal rising 4 of the last 5 trading sessions as Detroit and Chicago recyclers see steady demand from manufacturers. Cast aluminum sellers in Pittsburgh and Cleveland should note that higher oil prices at $95.75 per barrel are making primary aluminum production more expensive, which typically keeps scrap values attractive to buyers looking for cost savings.

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.