Smash Scrap Morning Metals Report – April 7, 2026

Prices as of April 07, 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 — $4,670/oz ▲
• Silver — $72.43/oz ▼
• PGMs — Rh ▸ $10,100 · Pt ▼ $1,948 · Pd ▼ $1,457
• Copper — $5.58/lb ▼
• Aluminum — $1.59/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3916

Smash Scrap Takeaways for Today

• Gold & Silver — Gold gained $13.57 to $4,670 while silver dropped 67 cents to $72.43. Detroit and Chicago yards should sell gold inventory immediately at these elevated levels. Hold silver positions as the decline creates potential buying opportunities from refiners seeking oversold value.
• PGMs — Platinum fell $37 to $1,948, palladium down $9 to $1,457, while rhodium held flat at $10,100. Automotive recyclers should expedite platinum and palladium sales before further declines hit profit margins. Our models correctly predicted platinum weakness yesterday.
• Copper — Dropped 4 cents to $5.58 per pound as industrial demand pressures persist. Houston and Los Angeles yards should clear copper wire and pipe inventory quickly while buyers are still active, as this downtrend shows no signs of reversing.
• Aluminum — Rose 2 cents to $1.59 per pound, continuing yesterday's momentum. Philadelphia and Atlanta sellers should capitalize on this upward move immediately while buyers are bidding higher. This contradicts our earlier prediction of industrial weakness.
• Big Picture — Only 2 of 8 metals gained today, with most precious and base metals declining while energy costs remain elevated.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $110.54/bbl, up $0.8500 (+0.77%) day-over-day.

Oil's 85-cent gain reflects growing supply concerns as geopolitical tensions escalate in key production regions. The Bank of France's recent gold trading activity and Trump's latest trade policy remarks are adding uncertainty to global markets, while rising Treasury yields signal potential shifts in Federal Reserve policy ahead. Higher energy costs typically boost scrap values by increasing collection and processing expenses that yards pass through to buyers.

The stronger dollar against the Canadian dollar could pressure cross-border scrap flows, though domestic demand from Detroit and Chicago auto recyclers remains steady. With copper showing continued weakness and industrial metals facing headwinds, scrap processors in Pittsburgh and Cleveland should expect mixed signals this week. Energy-intensive operations like aluminum recycling in Houston and Los Angeles will feel the most immediate impact from oil's climb, while steel scrap markets await clearer direction from both energy costs and industrial demand indicators.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,670/oz, up +$13.57 (+0.29%) day-over-day. Previous close: $4,656/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold reached new elevated levels as geopolitical supply concerns and Bank of France trading activity continue supporting safe-haven demand, building on yesterday's momentum for its third gain in the past five sessions. Scrap gold sellers in Detroit, Chicago, and Houston should capitalize on these premium prices immediately, while jewelers and e-waste recyclers can expect strong refiner interest at current levels. The combination of escalating tensions in key production regions and Trump's trade policy uncertainty is creating the type of global market instability that typically drives sustained precious metals buying.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $72.43/oz, down $0.6725 (-0.92%) day-over-day. Previous close: $73.11/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 64.5:1.

Silver dropped by about 67 cents as the broader uncertainty from geopolitical tensions and shifting Federal Reserve policy signals weighed on precious metals markets. The gold-to-silver ratio widening to 64.5-to-1 suggests silver is becoming relatively cheaper compared to gold, which could attract bargain hunters among electronics recyclers and solar panel manufacturers who need silver for industrial applications. Scrap sellers in Detroit and Chicago should watch for potential buying interest from refiners if this weakness continues, as silver's dual role as both a precious metal and critical industrial input often creates demand floors during market stress.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,948/oz, down $37.00 (-1.86%) day-over-day. Previous close: $1,985/oz. MoM: -9.2%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,457/oz, down $9.00 (-0.61%) day-over-day. Previous close: $1,466/oz. MoM: -9.6%.
• 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: ↓ 1 of last 5 sessions.

Platinum and palladium both pulled back today as geopolitical tensions and rising oil prices create mixed signals for precious metals markets. Despite platinum's recent strength over five sessions, sellers in Detroit and Houston should expect more cautious buyer behavior as automotive processors weigh supply chain uncertainties against elevated input costs. Rhodium held steady near current levels, suggesting industrial buyers may be waiting for clearer direction before committing to major purchases.

Copper — Current Indicators

• COMEX/Spot Copper: $5.58/lb, down $0.0405 (-0.72%) day-over-day. Previous close: $5.62/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper slipped about 4 cents as growing geopolitical tensions and rising energy costs weigh on industrial metals demand. This decline continues the bearish trend I correctly predicted last week, with sellers in Detroit and Chicago facing softer buyer interest as refiners remain cautious amid global uncertainty. Scrap dealers should move #1 and #2 copper inventory quickly, as bare bright and wire grades may see further pressure if supply concerns keep manufacturing activity subdued.

Aluminum — Current Indicators

• LME Aluminum: $3,505/tonne ($1.59/lb), up +$0.0164 (+1.04%) day-over-day. Previous close: $1.57/lb.
• 5-day trend: → flat over last 5 sessions.

Aluminum gained about 2 cents today, extending yesterday's momentum as geopolitical tensions in key production regions continue supporting industrial metals. The modest uptick benefits scrap sellers across Detroit, Chicago, and Houston yards, particularly those holding cast aluminum and automotive sheet material from recycling operations. However, the flat trend over recent sessions suggests buyers remain cautious about committing to higher prices, so sellers of extrusion scrap and mixed aluminum grades should capitalize on current levels rather than waiting for further gains.

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.