Smash Scrap Morning Metals Report – April 9, 2026

Prices as of April 09, 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 — $4,738/oz ▲
• Silver — $74.20/oz ▲
• PGMs — Rh ▸ $10,200 · Pt ▲ $2,043 · Pd ▲ $1,561
• Copper — $5.72/lb ▼
• Aluminum — $1.57/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3851

Smash Scrap Takeaways for Today

• Gold & Silver — Precious metals showing solid momentum with gold up $25 to $4,738/oz and silver gaining 39 cents to $74.20/oz. Both metals rose 0.53% today. Detroit and Chicago scrap yards should list jewelry and silver-bearing scrap now while buyers are paying premium rates for consistent supply.
• PGMs — Palladium leads the pack, jumping $17 to $1,561/oz (+1.10%), while platinum gained $14 to $2,043/oz (+0.69%). Rhodium held flat at $10,200/oz. Auto recyclers in Houston and Los Angeles should move catalytic converter inventory immediately — our models called palladium higher and momentum is confirmed across the PGM complex.
• Copper — Industrial metal weakness continues with copper down 3 cents to $5.72/lb (-0.58%). Pittsburgh and Cleveland yards should hold copper inventory another few days. Recent volatility suggests this modest decline could reverse quickly as industrial demand stabilizes.
• Aluminum — Aluminum dropped about 1 cent to $1.57/lb (-0.76%), extending yesterday's downward pressure. Atlanta and Philadelphia processors should clear aluminum scrap quickly rather than storage — transportation costs are eating into margins while prices drift lower.
• Big Picture — Mixed session with 4 of 8 metals higher today, led by precious metals and PGMs while industrial metals face headwinds.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $98.02/bbl, up $0.8700 (+0.90%) day-over-day.

Oil climbed 87 cents as European natural gas futures initially tumbled on ceasefire hopes between the U.S. and Iran, but energy markets remain volatile amid ongoing fertilizer shortages from the Iran conflict. Higher crude costs are starting to support scrap metal pricing across Detroit, Houston, and Chicago yards as energy-intensive primary metal production becomes more expensive relative to recycling operations.

The Fed's steady 3.64% rate and softening inflation expectations create mixed signals for industrial buyers in Los Angeles and Atlanta. While lower borrowing costs could boost manufacturing demand for scrap, the dollar's recent weakness makes imported raw materials more expensive, potentially increasing domestic scrap values. Steel processors and auto recyclers should expect transportation and processing costs to reflect today's energy price gains over the coming weeks, with regional pricing adjustments likely across Pennsylvania and Ohio markets.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,738/oz, up +$25.13 (+0.53%) day-over-day. Previous close: $4,713/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold posted a modest gain today as tensions between the U.S. and Iran showed signs of easing, though the metal continues to face mixed signals after declining in three of the past five sessions. For scrap gold sellers and e-waste recyclers in Detroit, Chicago, and Houston, this uptick reflects gold's safe-haven appeal remaining intact despite hopes for regional stability. Jewelers and industrial recyclers should watch how energy market developments affect precious metals demand, as lower oil volatility could reduce some of gold's geopolitical premium in coming sessions.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $74.20/oz, up +$0.3885 (+0.53%) day-over-day. Previous close: $73.81/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 63.9:1.

Silver gained about 39 cents as ceasefire hopes between the U.S. and Iran helped ease some market tensions, though the metal remains well below recent highs after volatile trading. The gold/silver ratio at 63.9:1 suggests silver is still relatively cheap compared to gold, which could attract scrap sellers in Detroit and Chicago looking to time their sales. Electronics recyclers and industrial scrap dealers should watch how silver's dual role plays out—while precious metal demand supports prices, any slowdown in solar panel or electronics manufacturing could weigh on industrial silver consumption.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,043/oz, up +$14.00 (+0.69%) day-over-day. Previous close: $2,029/oz. MoM: -7.1%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,561/oz, up +$17.00 (+1.10%) day-over-day. Previous close: $1,544/oz. MoM: -5.2%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $10,200/oz, flat day-over-day. Previous close: $10,200/oz. MoM: -12.4%.
• Rhodium 5-day trend: ↑ 1 of last 5 sessions.

Platinum and palladium both pushed higher today, continuing their recent upward momentum as scrap sellers in Detroit and Houston see improved pricing from catalytic converter processors. The gains build on yesterday's strong rally, with both metals showing positive trends over the past week despite ongoing automotive sector uncertainties. Rhodium held steady at elevated levels, reflecting the metal's tendency to consolidate after major moves as buyers in Los Angeles and Atlanta assess inventory needs.

Copper — Current Indicators

• COMEX/Spot Copper: $5.72/lb, down $0.0335 (-0.58%) day-over-day. Previous close: $5.75/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper dipped about 3 cents as energy markets calmed on ceasefire hopes, though the red metal has still gained in three of the last five sessions. For scrap sellers in Detroit and Chicago, this minor pullback doesn't change the steady demand from industrial buyers who continue processing #1 and #2 copper at consistent rates. Bare bright and copper wire sellers should expect buyers in Houston and Los Angeles to maintain their recent pricing levels, as this small decline appears to be profit-taking rather than a fundamental shift in copper demand.

Aluminum — Current Indicators

• LME Aluminum: $3,452/tonne ($1.57/lb), down $0.0120 (-0.76%) day-over-day. Previous close: $1.58/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum edged lower amid improving geopolitical sentiment as ceasefire hopes helped ease some industrial cost pressures. The modest decline reflects normal market adjustments rather than fundamental weakness, with Detroit and Chicago buyers maintaining steady offers for cast aluminum while sheet metal processors in Houston and Philadelphia continue absorbing steady volumes. Extrusion sellers should expect stable pricing as lower energy costs from the ceasefire optimism may gradually reduce processing expenses, though my previous prediction of further aluminum pressure appears to be playing out as anticipated.

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.