Smash Scrap Morning Metals Report – April 8, 2026

Prices as of April 08, 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 — $4,781/oz ▲
• Silver — $76.99/oz ▲
• PGMs — Rh ▸ $10,100 · Pt ▲ $2,069 · Pd ▲ $1,583
• Copper — $5.76/lb ▲
• Aluminum — $1.57/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3907

Smash Scrap Takeaways for Today

• Gold & Silver — Gold up $48 to $4,781/oz and silver surging $3.16 to $76.99/oz (+4.27%) create strong selling opportunities. Detroit and Chicago yards should move inventory today while momentum favors sellers, especially with silver's 4% jump providing excellent margins.
• PGMs — Palladium exploded $122 higher to $1,583/oz (+8.35%) and platinum gained $99 to $2,069/oz (+5.03%). Auto recyclers in Cleveland and Atlanta should sell catalytic converter inventory immediately—these gains may not hold given recent volatility patterns.
• Copper — Up 12 cents to $5.76/lb (+2.09%), copper offers solid selling conditions for wire and pipe inventory. Houston and Los Angeles industrial sellers should move material while prices climb, as our models previously called copper weakness but this bounce creates exit opportunities.
• Aluminum — Down less than a penny to $1.57/lb (-0.17%), aluminum shows minimal movement. Philadelphia and Pittsburgh processors should wait for clearer direction before major transactions—the slight decline doesn't justify rushing sales.
• Big Picture — Strong day with 5 of 8 metals higher, led by palladium's 8% surge and broad precious metals strength creating favorable selling conditions across most categories.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $92.47/bbl, down $10.81 (-10.47%) day-over-day.

Oil's sharp pullback of over $10 per barrel reflects easing geopolitical tensions as markets digest the U.S.-Iran ceasefire deal mentioned in today's headlines. This dramatic energy cost relief should eventually flow through to transportation and processing expenses for scrap operations, though our analysis suggests it may take several weeks to fully materialize. The weaker dollar and steady Fed rates create a supportive backdrop for industrial metals, even as some precious metals face headwinds from reduced safe-haven demand.

Scrap yards from Detroit to Los Angeles should prepare for mixed signals in the coming sessions. While lower energy costs will eventually boost margins for hauling and processing operations, the immediate impact on scrap pricing depends on whether industrial buyers view today's oil decline as sustainable or temporary. Auto recyclers should note that catalyst metal values remain volatile despite the broader energy relief, with our prediction engine flagging continued automotive sector weakness that could pressure platinum group metals regardless of lower operating costs.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,781/oz, up +$48.03 (+1.01%) day-over-day. Previous close: $4,733/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold pushed higher today, gaining momentum as easing geopolitical tensions from the U.S.-Iran ceasefire deal helped stabilize broader markets and renewed investor confidence in precious metals. The advance extends gold's positive trend, with gains in three of the last five sessions suggesting solid underlying demand from both safe-haven buyers and scrap sellers taking advantage of elevated pricing levels. Auto recyclers in Detroit and Chicago should find stronger interest from refiners for gold-bearing electronic components, while jewelry buyers in Los Angeles and Atlanta may offer improved rates for estate gold and dental scrap as the metal holds near these elevated levels.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $76.99/oz, up +$3.16 (+4.27%) day-over-day. Previous close: $73.83/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 62.1:1.

Silver gained over $3 per ounce as easing geopolitical tensions boost industrial metal demand across American scrap markets. The move brings silver's gold ratio to 62:1, suggesting silver remains undervalued compared to gold and creating better selling opportunities for electronics recyclers and solar panel processors in Detroit and Houston. With oil costs dropping sharply, transportation expenses for silver scrap should decline in coming weeks, though my market memory shows energy cost relief typically takes time to flow through to actual processing margins.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,069/oz, up +$99.00 (+5.03%) day-over-day. Previous close: $1,970/oz. MoM: -4.5%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,583/oz, up +$122.00 (+8.35%) day-over-day. Previous close: $1,461/oz. MoM: -5.3%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $10,100/oz, flat day-over-day. Previous close: $10,100/oz. MoM: -13.3%.
• Rhodium 5-day trend: ↓ 1 of last 5 sessions.

PGM prices surged today as scrap sellers benefit from strong buying interest, continuing the rally from yesterday's session. Both platinum and palladium posted impressive gains, with automotive recyclers in Detroit and Chicago likely seeing improved catalyst values, though palladium's recent volatility suggests sellers should remain cautious about timing large lots. Rhodium held steady at current levels, providing stability for processors who have been waiting for clearer direction in this high-value metal.

Copper — Current Indicators

• COMEX/Spot Copper: $5.76/lb, up +$0.1180 (+2.09%) day-over-day. Previous close: $5.64/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper gained about 12 cents today as falling oil prices signal future relief for transportation costs that squeeze scrap operations. With oil dropping over $10 per barrel on easing geopolitical tensions, Detroit and Chicago processors should see improved margins in the coming weeks, though the transportation savings typically take time to materialize. Sellers of #1 copper, bare bright wire, and #2 copper in Houston and Los Angeles markets can expect steady demand as the positive momentum builds for the third time in five sessions.

Aluminum — Current Indicators

• LME Aluminum: $3,459/tonne ($1.57/lb), down $0.0026 (-0.17%) day-over-day. Previous close: $1.57/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum slipped slightly today as scrap sellers deal with minimal price movement in a market still searching for direction. The tiny decline reflects ongoing uncertainty about industrial demand, though falling oil costs should eventually help transportation expenses for yards in Detroit and Houston shipping material to processors. Cast aluminum sellers may want to wait for clearer signals before making major moves, while sheet and extrusion dealers should monitor how the recent downward trend over three of the last five sessions plays out amid mixed industrial signals.

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).

⚠️ Note: Platinum (5.0%), Palladium (8.3%) show unusually large day-over-day moves. Illiquid markets (e.g. rhodium) can have wide bid-ask spreads; verify with multiple sources before acting.

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.