Smash Scrap Morning Metals Report – July 29, 2026

Prices as of July 29, 2026 at 07:32 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 — $4,012/oz ▼
• Silver — $57.02/oz ▲
• PGMs — Rh ▸ $8,250 · Pt ▼ $1,576 · Pd ▼ $1,224
• Copper — $6.29/lb ▼
• Aluminum — $1.44/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.4102

Smash Scrap Takeaways for Today

• Gold & Silver — Gold is basically flat, but silver is still firmer. Push clean silver-bearing lots now, and don’t sit on material waiting for a bigger pop.[1]
• PGMs — Platinum and palladium are both lower, while rhodium is flat. Move documented catalytic-converter lots now if you have them, because the PGM board is not giving you a strong hold signal.[1]
• Copper — Copper slipped again. Tighten grading, cut out dirt and mixed lots, and sell clean copper sooner rather than later.[1]
• Aluminum — Aluminum is up on the day, and the market is still rewarding well-sorted material. Hold back the junk, but move clean, separated aluminum while the bid is better.[1]
• Big Picture — The board is mixed: 2 higher, 4 lower, 2 flat. Sellers should act selective, not lazy, and use competition to test the market on the cleanest loads.[1]

Macro Backdrop — Energy and Risk

Brent Crude Oil: $89.74/bbl, up $1.95 (+2.22%) day-over-day.

US Dollar Index (DXY): 101.47, flat day-over-day.

**Oil is waking up. Risk is still there, even if rates look calmer.**

Brent crude is pushing higher again, near **$90/bbl**, up a bit over 2%.[13][9] That keeps **energy costs** firm for mills and shredders, and supports higher melt and freight costs.

The **10Y and 2Y yields** eased a touch, and inflation expectations dipped to about **2.2%**.[13][8] The **Fed rate** is unchanged, and the dollar index is flat, but USD/CAD at **1.41** keeps U.S.-dollar scrap pricing strong versus Canadian yards.[6][10]

Bottom line for you: energy is still a tailwind for steelmaking costs, not demand. Keep an eye on oil and power — cost-push moves can fade fast if demand stays soft.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,012/oz, down $2.60 (-0.06%) day-over-day. Previous close: $4,015/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

**Gold is still rich, but it’s catching its breath.** Gold is sitting around **$4,012/oz**, down a hair on the day and lower in 3 of the last 5 sessions. With the dollar flat and oil waking up around **$89.74/bbl**, you’re still selling into a strong gold market, but it’s a good time to stay picky and move clean, well-documented gold scrap through competitive channels instead of dumping everything at once.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $57.02/oz, up +$0.1025 (+0.18%) day-over-day. Previous close: $56.91/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 70.4:1.

**Silver is firm and slowly grinding higher.** Silver is at **$57.02/oz**, up about ten cents on the day, with gains in **3 of the last 5 sessions** and a gold/silver ratio near **70:1**, so silver still looks cheap versus gold. With the dollar flat and **oil waking up**, this is a steady tape, not a panic move, so you can keep moving clean silver scrap through the yard and use auctions to let buyers fight for your cats and cores instead of guessing off one call.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,576/oz, down $20.00 (-1.25%) day-over-day. Previous close: $1,596/oz. MoM: -0.1%.
• Platinum 5-day trend: ↓ 4 of last 5 sessions.
• Palladium (Pd): $1,224/oz, down $19.00 (-1.53%) day-over-day. Previous close: $1,243/oz. MoM: +1.4%.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $8,250/oz, flat day-over-day. Previous close: $8,250/oz. MoM: +6.5%.
• Rhodium 5-day trend: ↑ 1 of last 5 sessions.

**PGM prices are soft today, so scrap sellers need to be picky, not panicky.** Platinum and palladium are both drifting lower again, while rhodium is flat after a weak week, even as oil wakes up and the dollar holds steady. With PGMs still off recent highs, this is a time to move well-documented cats through competitive auctions, not dump big volumes on one buyer at guessed numbers.

Copper — Current Indicators

• COMEX/Spot Copper: $6.29/lb, down $0.0390 (-0.62%) day-over-day. Previous close: $6.33/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

**Copper slipped again, but you’re still looking at strong money.** Copper is around **$6.29/lb**, down about **4 cents** today and lower in **3 of the last 5 sessions**. With Brent crude near **$89.74/bbl** and oil “waking up,” expect some chop, but current copper levels still make it a solid time to move clean, documented copper loads if you’ve been sitting on inventory.

Aluminum — Current Indicators

• LME Aluminum: $3,185/tonne ($1.44/lb), up +$0.0165 (+1.16%) day-over-day. Previous close: $1.43/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Aluminum is ticking up, not tanking.** Aluminum sits around **$1.44/lb**, up about 2 cents today and higher in 3 of the last 5 sessions. With the dollar flat and **oil waking up** around $89.74/bbl, mills and buyers may stay active, so it’s a decent time to clean, sort, and be ready to move good aluminum scrap when your number works.

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.