Smash Scrap Morning Metals Report – July 22, 2026

Prices as of July 22, 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 — $4,131/oz ▲
• Silver — $59.47/oz ▲
• PGMs — Rh ▸ $8,200 · Pt ▲ $1,648 · Pd ▲ $1,304
• Copper — $6.51/lb ▼
• Aluminum — $1.44/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.4095

Smash Scrap Takeaways for Today

• Gold & Silver — Prices are ripping higher; tighten what you’re paying, and use SMASH to auction clean documented lots while sentiment is strong.
• PGMs — With platinum and palladium up and rhodium flat, prioritize well‑graded cat loads into competitive auctions and don’t discount rhodium content just because the tape is quiet.
• Copper — Tape is soft today; don’t chase yesterday’s rally—move only clean, sorted copper on firm bids and hold questionable material for stronger prints.
• Aluminum — Slight lift plus recent strength says move auto and extrusion aluminum now, but use SMASH inventory tools to bundle and document loads for better bids.
• Big Picture — 5 of 8 metals higher, 1 lower, 2 flat: sell into precious and aluminum strength via auctions, stay selective on copper, and don’t fire‑sell stable steel and rhodium.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $84.78/bbl, down $6.80 (-7.43%) day-over-day.

US Dollar Index (DXY): 101.12, up 0.37 (+0.37%) day-over-day.

**Oil just dropped 7%. That changes the risk picture for yards.**

Brent crude is sitting around $85, down about 7% in a day. That eases near‑term fuel and processing cost pressure, but it also hints at softer demand in the real economy. Energy is still rich, but this kind of fast move makes buyers nervous on forward spreads.

The U.S. dollar is firm, with DXY ticking higher and USD/CAD up near 1.41. Strong dollar means imported steel and non‑ferrous stay competitive, and export flows out of North America get tougher. Inflation expectations are steady, the Fed is parked, and 2‑year yields are edging up, so money is not getting cheaper. Net read: energy relief, higher dollar, and stable but watchful rates — enough to keep risk managers cautious on big tonnage commits.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,131/oz, up +$49.20 (+1.21%) day-over-day. Previous close: $4,082/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

**Gold keeps grinding higher, so clean documented loads are getting more respect from buyers.** Gold is around **$4,131/oz**, up about **1.2% today** and higher in **3 of the last 5 sessions**, even with the US dollar firm and oil off about **7%**.[1][2] With the tape steady and moving up, expect buyers to stay picky but pay up for well-sorted, photo-documented gold scrap and electronics, while messy mixed loads still see held bids.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $59.47/oz, up +$0.5920 (+1.01%) day-over-day. Previous close: $58.88/oz.
• 5-day trend: ↑ 4 of last 5 sessions.
• Gold/Silver ratio: 69.5:1.

**Silver’s finally waking up, so don’t sleep on your silver-bearing scrap.** Silver is around **$59.47/oz**, up about **1%** today and green in **4 of the last 5 sessions**, with the **gold/silver ratio near 69.5:1** pointing to silver still playing catch-up. With oil off about 7% and the dollar firm but not surging, more risk money is drifting into metals, so clean, well-documented silver loads (contacts, cores, industrial) should see tighter bids than they did a week ago.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,648/oz, up +$23.00 (+1.42%) day-over-day. Previous close: $1,625/oz. MoM: -1.5%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,304/oz, up +$40.00 (+3.16%) day-over-day. Previous close: $1,264/oz. MoM: +4.3%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $8,200/oz, flat day-over-day. Previous close: $8,200/oz. MoM: +2.5%.
• Rhodium 5-day trend: ↑ 2 of last 5 sessions.

PGMs are still strong, but the tape is choppy, so buyers will stay selective on loaded cats and cores. Platinum and palladium are both up today, while rhodium is holding steady, which means you should expect tighter grading and more focus on documentation and proper sorting when you go to sell.

Copper — Current Indicators

• COMEX/Spot Copper: $6.51/lb, down $0.0190 (-0.29%) day-over-day. Previous close: $6.53/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

**Copper is slipping a bit, so don’t chase yesterday’s number.** It’s at **$6.51/lb**, down about **2 cents**, and the tape shows **3 of the last 5 sessions lower**. With the **dollar firmer** and **oil just off hard**, buyers may stay picky on messy loads and pay better for clean, documented copper.

Aluminum — Current Indicators

• LME Aluminum: $3,185/tonne ($1.44/lb), up +$0.0082 (+0.57%) day-over-day. Previous close: $1.44/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Aluminum is inching higher, but not breaking out.** Aluminum is at **$1.44/lb**, up less than a cent today, with prices rising in **3 of the last 5 sessions**.[3] With oil down about 7% and the dollar firm, this feels like a slow, steady grind higher, so you should still expect buyers to stay picky on grades and pay up mainly for clean, well-documented aluminum loads.[1][3]

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.