Smash Scrap Morning Metals Report – April 29, 2026

Prices as of April 29, 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 — $4,563/oz ▼
• Silver — $72.50/oz ▼
• PGMs — Rh ▸ $10,000 · Pt ▼ $1,907 · Pd ▼ $1,432
• Copper — $5.94/lb ▲
• Aluminum — $1.61/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3678

Smash Scrap Takeaways for Today

• Gold & Silver — Both down today (gold -0.59%, silver -0.87%). Hold inventory. Precious metals show weakness, but search results indicate geopolitical risks in Iran may support prices longer-term. Wait for stabilization before selling.[1][3]
• PGMs — Platinum and palladium both down (platinum -1.60%, palladium -0.90%). Rhodium flat. These markets remain volatile due to ongoing Iran tensions affecting global supply chains.[1] Consider holding for converter rebound potential.
• Copper — Up 0.40% today and surged 15 cents per pound on April 22.[2] This is your strongest metal right now. Sell copper scrap now while momentum is positive. Non-ferrous metals show more dynamic price behavior than steel.[3]
• Aluminum — Up 0.37% today. Aluminum remains volatile with large daily swings tied to Iran conflict.[1] Take advantage of gains by selling now rather than holding for uncertain future movement.[1][3]
• Big Picture — Market split: only 2 of 8 metals higher today. Ferrous scrap (steel) remains flat and stable, while geopolitical tensions keep non-ferrous prices unpredictable.[1][3]

Macro Backdrop — Energy and Risk

Brent Crude Oil: $107.54/bbl, up $3.57 (+3.43%) day-over-day.

# Macro Backdrop — Energy and Risk

Oil prices climbed to their highest level since June 2022 as **Brent crude jumped above $115 per barrel** on mounting supply concerns[1]. US-Iran tensions and the effective closure of the Strait of Hormuz are tightening the global oil outlook, marking eight straight days of gains[1]. This energy shock will push up costs across scrap operations, from transportation to processing, just as metals demand remains under pressure from trade uncertainty and slower growth forecasts.

The broader economy shows mixed signals. Bond yields ticked up to 4.35% while inflation expectations held steady at 2.44%, suggesting the Fed may keep rates firm longer than hoped[3]. Auto production fell 3.98% in March, a red flag for recycled metal demand from vehicle shredding[3]. Watch for oil volatility to persist—geopolitical risk is real, but oversupply concerns linger if OPEC+ accelerates production cuts unwinding[2].

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,563/oz, down $27.22 (-0.59%) day-over-day. Previous close: $4,591/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

**Gold** fell to **$4,563 per ounce** today, down $27 or **0.59%**, with prices dropping in 4 of the last 5 sessions. Higher **oil prices** above $107 per barrel from US-Iran tensions and Strait of Hormuz issues add costs that pressure scrap sellers. Hold scrap gold for now as the recycling market grows strong at 8.3% this year, but watch spot trends for the best sell time.[1][2]

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $72.50/oz, down $0.6390 (-0.87%) day-over-day. Previous close: $73.14/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 62.9:1.

Silver spot prices fell to **$72.50/oz**, down 64 cents or **0.87%** today, with drops in **3 of the last 5 sessions**. The **gold/silver ratio** at 62.9:1 shows silver lagging gold amid high oil prices over **$107/bbl** from US-Iran tensions and Strait of Hormuz issues. Scrap sellers should hold steady, as strong industrial demand from solar and EVs points to higher prices like **$81/oz** in 2026 despite short-term dips.[1]

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,907/oz, down $31.00 (-1.60%) day-over-day. Previous close: $1,938/oz. MoM: -1.0%.
• Platinum 5-day trend: ↓ 4 of last 5 sessions.
• Palladium (Pd): $1,432/oz, down $13.00 (-0.90%) day-over-day. Previous close: $1,445/oz. MoM: +0.5%.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $10,000/oz, flat day-over-day. Previous close: $10,000/oz. MoM: -3.9%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

**PGM prices** fell today for scrap sellers. Platinum dropped $31 to $1,907 per ounce, down 1.6%, and palladium fell $13 to $1,432 per ounce, down 0.9%. Both slid in 4 of the last 5 days, while rhodium stayed flat at $10,000 per ounce—hold scrap amid high oil prices above $107 per barrel from supply worries.

Copper — Current Indicators

• COMEX/Spot Copper: $5.94/lb, up +$0.0235 (+0.40%) day-over-day. Previous close: $5.92/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Copper is holding steady at $5.94 per pound as global demand for renewable energy and electric vehicles keeps the scrap market strong[1][3]. While prices have pulled back over the last five days, long-term growth looks solid with the U.S. recycling rate expected to jump from 33% in 2023 to 40% by 2033, meaning more copper scrap will be worth collecting and selling[1]. Oil price pressures from Middle East tensions aren't directly hitting copper yet, but sellers should watch for any slowdown in construction or manufacturing that could affect collection rates[3].

Aluminum — Current Indicators

• LME Aluminum: $3,552/tonne ($1.61/lb), up +$0.0059 (+0.37%) day-over-day. Previous close: $1.61/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Aluminum scrap prices hit $1.61 per pound today, up less than a cent or 0.37% from yesterday. This small gain comes amid high oil prices like Brent crude at $107.54 per barrel, driven by US-Iran tensions and Strait of Hormuz issues tightening supply. Despite the uptick, prices fell in 4 of the last 5 sessions, so scrap sellers should watch for steady demand from recycling growth.

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.