Smash Scrap Morning Metals Report – August 3, 2026

Prices as of August 03, 2026 at 07:33 AM CDT.

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.

Jump to:

• Gold — $4,050/oz ▲
• Silver — $57.67/oz ▲
• PGMs — Rh ▸ $8,250 · Pt ▼ $1,618 · Pd ▼ $1,242
• Copper — $6.49/lb ▼
• Aluminum — $1.45/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.4029

Smash Scrap Takeaways for Today

• Gold & Silver — Use the small pop to move clean, documented gold and silver lots; don’t sit hoping for a spike.
• PGMs — With platinum and palladium down and rhodium flat, tighten grades on cats and cores and be ready to accept solid bids rather than waiting for a rebound.
• Copper — Price is easing; push #1 copper and bright wire out now before yards start shading their buy numbers further.
• Aluminum — Price is nudging higher again; sort and separate your aluminum loads and run competitive auctions to capture the better bids.
• Big Picture — Mixed board today (3 higher, 3 lower, 2 flat), so keep material moving and use competition to find the real market.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $82.92/bbl, down $7.20 (-7.99%) day-over-day.

US Dollar Index (DXY): 99.76, down 1.04 (-1.03%) day-over-day.

**Oil just dropped hard. That changes your cost picture fast.**

Brent crude is down near **$83**, off almost 8% in a day. That kind of move usually points to demand worries, not a boom. Cheaper oil can help on fuel and freight, but it also says big buyers may be getting cautious again. The US dollar index is softer, but the **USD/CAD** is still rich, so Canadian yards paid in CAD feel more squeeze on USD‑linked freight and imports.

Rates and risk stay mixed. The **10Y** and **2Y** yields are inching higher, real 10Y is about **2.4%**, so money still isn’t cheap and that can cap risk-on appetite for metals. Auto production and industrial output are grinding higher, but consumer sentiment is still weak. Net read: energy is giving you a bit of cost relief, but the macro backdrop is not screaming “all clear.” Stay tight on documentation and be ready for buyers to price in both cheaper fuel and higher financing risk on bigger loads.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,050/oz, up +$8.50 (+0.21%) day-over-day. Previous close: $4,042/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

**Gold is firm at $4,050/oz, but the move is modest.** It is up just $8.50, and the 5-day trend is only up in 3 of 5 sessions, so this looks like steady trade, not a breakout. With the dollar softer and oil sliding, scrap sellers should watch clean gold lots and move when bids are strong.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $57.67/oz, up +$0.0775 (+0.13%) day-over-day. Previous close: $57.59/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 70.2:1.

**Silver’s holding firm, not exploding. Don’t wait for a moonshot.** Silver is around **$57.67/oz**, up a hair today and higher in 3 of the last 5 sessions, even with oil dropping and the dollar under pressure. With the gold/silver ratio near **70:1**, buyers still see silver as “cheap,” so clean, well-documented silver scrap and cores should move fine when you line up real competition on your bids.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,618/oz, down $26.00 (-1.58%) day-over-day. Previous close: $1,644/oz. MoM: +0.1%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,242/oz, down $14.00 (-1.11%) day-over-day. Previous close: $1,256/oz. MoM: -0.6%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $8,250/oz, flat day-over-day. Previous close: $8,250/oz. MoM: +1.9%.
• Rhodium 5-day trend: → flat over last 5 sessions.

**PGM prices are under pressure, so you need to be picky about what you move.** Platinum and palladium are both down today, while rhodium is holding flat, and oil just dropped hard, which points to softer demand, not a boom. With this backdrop, treat cats and PGM-rich scrap carefully: move clean, documented loads when bids look solid, and avoid dumping big volumes just to chase quick cash.

Copper — Current Indicators

• COMEX/Spot Copper: $6.49/lb, down $0.0225 (-0.35%) day-over-day. Previous close: $6.51/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Copper is still strong, even if today’s price slipped a hair.** Copper is at **$6.49/lb**, down about 2 cents on the day, but it’s been up in **3 of the last 5 sessions**, so the broader trend is still firm. With the dollar down and oil just dropping hard, you’re getting a friendlier cost backdrop, so this is still a decent window to move clean #1 copper and bright wire if your yard needs cash and space.

Aluminum — Current Indicators

• LME Aluminum: $3,206/tonne ($1.45/lb), up +$0.0053 (+0.37%) day-over-day. Previous close: $1.45/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

**Aluminum is slowly climbing, so don’t sleep on your clean material.** Aluminum is around $1.45/lb, up less than a cent, and it’s been green in 4 of the last 5 sessions. With oil dropping hard to about $82.92/bbl, trucking pressure is easing a bit, so this is a decent time to tighten sorting and use good photos and paperwork to chase stronger bids on your aluminum loads.

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.