Smash Scrap Morning Metals Report – July 2, 2026

Prices as of July 02, 2026 at 07:31 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 — $4,064/oz ▲
• Silver — $61.54/oz ▲
• PGMs — Rh ▲ $7,900 · Pt ▲ $1,599 · Pd ▲ $1,222
• Copper — $6.14/lb ▼
• Aluminum — $1.39/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.4210

Smash Scrap Takeaways for Today

• Gold & Silver — Push bids higher on gold and silver-bearing scrap, cats, and e-scrap; don’t sit on clean, documented material.
• PGMs — With rhodium, platinum, and palladium all up, move well-sorted cats now and tighten spreads on high-grade cores.
• Copper — My call for “weakness may continue” is playing out; slow-roll large #1/#2 and insulated wire, but don’t slash your yard buy prices yet.
• Aluminum — The slide is continuing; move mixed and dirty aluminum faster, and keep clean segregated grades lean.
• Big Picture — 5 of 8 metals higher, copper and aluminum softer, steel flat — expect stronger bids on precious/PGM loads while base metal buyers stay picky.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $70.22/bbl, down $3.13 (-4.27%) day-over-day.

US Dollar Index (DXY): 101.19, up 0.08 (+0.08%) day-over-day.

**Oil just took a hard hit. Risk is up, not down.**

Brent crude is back near **$70**, off over **4%** in one session. That’s cheap fuel for shredders and processors, but it usually means traders are nervous about demand and growth. Stronger U.S. dollar and a softer broad USD basket tell you money is still hiding in “safe” assets, not betting big on heavy industry yet.

Rates are still high, with the **10-year near 4.4%** and real yields over **2%**, so borrowing stays expensive. Inflation expectations are steady, but consumer sentiment is weak. Auto production is edging up, which helps future shred and cores flow, but the macro picture still leans cautious.

Use the cheaper energy, but don’t assume the risk is gone.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,064/oz, up +$50.40 (+1.26%) day-over-day. Previous close: $4,014/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

**Gold’s still climbing, so your clean, documented gold scrap is in demand.** Gold is around **$4,064/oz**, up about **1.3%** today and higher in 3 of the last 5 sessions, even with the dollar firm and oil taking a hit. If you’ve got sorted, tested, and photo-documented gold-bearing cats, boards, or jewelry, this is a decent spot to push bids and move the tightest, easiest-to-sell material first.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $61.54/oz, up +$2.81 (+4.79%) day-over-day. Previous close: $58.73/oz.
• 5-day trend: ↑ 4 of last 5 sessions.
• Gold/Silver ratio: 66.0:1.

**Silver’s climbing, so your silver scrap just got more interesting.** Silver is at **$61.54/oz**, up about **5%** and green in **4 of the last 5 sessions**. With the **gold/silver ratio around 66:1** and oil taking a hit, silver still looks firm, so you can be pickier on prices for silver-bearing scrap, cats, and e-scrap loads.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,599/oz, up +$53.00 (+3.43%) day-over-day. Previous close: $1,546/oz. MoM: -17.0%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,222/oz, up +$28.00 (+2.35%) day-over-day. Previous close: $1,194/oz. MoM: -9.6%.
• Palladium 5-day trend: ↑ 4 of last 5 sessions.
• Rhodium (Rh): $7,900/oz, up +$150.00 (+1.94%) day-over-day. Previous close: $7,750/oz. MoM: -6.5%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

PGM prices are firmer today, and that helps scrap sellers. Platinum is **$1,599/oz**, palladium is **$1,222/oz**, and rhodium is **$7,900/oz**, so converter and cat values have more support right now.[1] The move fits the wider tone: oil is weak, the dollar is a bit firmer, and that can keep the market choppy. Even so, better PGM prices can improve recycling economics and bring more spent cats to market.[1][3]

Copper — Current Indicators

• COMEX/Spot Copper: $6.14/lb, down $0.0580 (-0.94%) day-over-day. Previous close: $6.20/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Copper slipped today, but it’s still holding strong for sellers.** Copper is around **$6.14/lb**, down about **6 cents** on the day, but it’s been up in **3 of the last 5 sessions**, even with the dollar firm and oil taking a hit. You don’t need to rush heavy copper out the gate, but stay sharp on bids and be ready if this weakness turns into a real trend.

Aluminum — Current Indicators

• LME Aluminum: $3,065/tonne ($1.39/lb), down $0.0151 (-1.07%) day-over-day. Previous close: $1.41/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

**Aluminum is soft today, so don’t get greedy on price.** Aluminum is at **$1.39/lb**, down about **2 cents** and lower in **3 of the last 5** sessions, with oil also taking a hard hit at **$70.22/bbl**, so don’t expect big jumps right now. With this kind of slow slide, you may want to move **mixed and dirty aluminum** sooner instead of sitting on it, and hold firmer on **clean, documented loads** where buyers still need material.

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.