Smash Scrap Morning Metals Report – April 6, 2026

Prices as of April 06, 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 — $4,669/oz ▼
• Silver — $72.98/oz ▼
• PGMs — Rh ▸ $10,100 · Pt ▲ $1,988 · Pd ▼ $1,480
• Copper — $5.65/lb ▼
• Aluminum — $1.57/lb ▸
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3918

Smash Scrap Takeaways for Today

• Gold & Silver — Hold off on sales with gold down $5.70 to $4,669 and silver steady at $72.98. Both metals showing minor weakness but no major breakdown. Wait for clearer signals before committing inventory as consolidation continues.
• PGMs — Mixed signals: platinum up $8 to $1,988 shows buying interest, but palladium down $10 to $1,480. Rhodium flat at $10,100. Sell platinum immediately while momentum favors sellers, but hold palladium inventory given auto sector uncertainty.
• Copper — Down about 3 cents to $5.65 per pound, continuing recent weakness. Clear inventory quickly as industrial demand pressures persist. Detroit and Chicago yards should expect softer buyer interest this week.
• Aluminum — Flat at $1.57 per pound suggests stabilization after recent volatility. Aluminum buyers may be returning at current levels given price stability. Consider listing steady inventory on active buyer interest.
• Big Picture — Only 1 of 8 metals higher today with most markets showing consolidation, suggesting cautious positioning ahead of mid-week economic data releases.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $108.77/bbl, down $0.2800 (-0.26%) day-over-day.

Oil pulled back 28 cents as markets digested last week's surge, but energy costs remain elevated enough to keep inflationary pressures on scrap operations. The critical minerals discussion around CUSMA trade talks highlights how North American supply chains depend on stable metal flows, which supports underlying demand for recycled materials. With the 10-year Treasury yield holding above 4% and inflation expectations ticking higher, scrap dealers face a complex environment where higher processing costs meet steady industrial appetite.

Energy-intensive operations from Detroit's auto shredders to Houston's steel mills are watching fuel costs closely, as transportation margins remain squeezed despite today's modest oil retreat. The dollar's recent weakness should help export-focused yards in Los Angeles and Philadelphia, while domestic-oriented operations in Cleveland and Pittsburgh benefit from steady manufacturing demand. Scrap traders should expect continued volatility as energy-driven cost pressures battle against solid underlying industrial consumption, particularly with critical minerals becoming a larger focus in trade discussions.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,669/oz, down $5.70 (-0.12%) day-over-day. Previous close: $4,674/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold slipped back after three positive sessions out of the last five, as markets took a breather from recent gains while oil prices also pulled back from elevated levels. The modest decline keeps gold near historically strong levels, benefiting Detroit and Chicago scrap dealers who continue seeing solid demand from refiners for jewelry scrap, dental gold, and electronic components. With critical minerals discussions heating up around CUSMA trade talks and energy costs remaining elevated enough to pressure scrap operations, gold's safe-haven appeal should persist as North American supply chains seek stability.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $72.98/oz, down $0.0205 (-0.03%) day-over-day. Previous close: $73.00/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 64.0:1.

Silver drifted slightly lower as the gold/silver ratio held steady at 64:1, keeping silver relatively affordable compared to gold for scrap sellers looking to diversify their holdings. With elevated energy costs still pressuring scrap operations across Detroit and Chicago yards, the minor decline reflects steady industrial demand from electronics recyclers processing computer components and solar panel materials. The recent downward pressure in 3 of the last 5 sessions suggests silver's dual role as both precious metal and industrial commodity is keeping prices in a consolidation phase, giving scrap dealers time to evaluate their inventory levels before making major selling decisions.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,988/oz, up +$8.00 (+0.40%) day-over-day. Previous close: $1,980/oz. MoM: -7.3%.
• Platinum 5-day trend: ↑ 5 of last 5 sessions.
• Palladium (Pd): $1,480/oz, down $10.00 (-0.67%) day-over-day. Previous close: $1,490/oz. MoM: -8.1%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $10,100/oz, flat day-over-day. Previous close: $10,100/oz. MoM: -12.9%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

Platinum extended its strong run with another small gain today, continuing the momentum that has lifted prices from previous sessions amid steady industrial demand. Palladium pulled back slightly as auto sector buying cooled, while rhodium held steady at elevated levels as supply constraints persist. The CUSMA trade talks highlighting critical minerals underscore how North American supply chains rely on recycled PGMs, supporting steady demand from refiners in Detroit and Chicago even as energy costs from $109 oil continue pressuring scrap yard operations.

Copper — Current Indicators

• COMEX/Spot Copper: $5.65/lb, down $0.0340 (-0.60%) day-over-day. Previous close: $5.68/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper slipped about 3 cents as scrap yards from Detroit to Houston saw modest selling pressure following last week's gains, though the metal has still posted gains in three of the past five sessions. The pullback appears tied to elevated energy costs weighing on processing operations, even as the ongoing CUSMA trade discussions highlight how critical North American supply chains depend on steady recycled copper flows. Sellers of #1 and #2 copper, bare bright wire, and industrial scrap should monitor whether this minor correction attracts fresh buying interest from refiners, particularly given that my recent assessment correctly anticipated inventory clearing would support prices during periods of oversupply pressure.

Aluminum — Current Indicators

• LME Aluminum: $3,468/tonne ($1.57/lb), flat day-over-day. Previous close: $1.57/lb.
• 5-day trend: → flat over last 5 sessions.

Aluminum held steady at current levels as scrap yards from Detroit to Houston saw consistent demand from recyclers, with the five-day flat trend suggesting buyers are comfortable at these prices after last week's modest pullback. The critical minerals discussion in CUSMA trade talks reinforces how North American supply chains depend on steady aluminum flows, which should support underlying demand for cast, sheet, and extrusion materials from auto recyclers and industrial sellers. With energy costs remaining elevated but markets digesting recent oil surges, scrap dealers may find this price stability creates better conditions for inventory turnover compared to recent volatility.

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.