Smash Scrap Morning Metals Report – July 31, 2026

Prices as of July 31, 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 — $4,049/oz ▼
• Silver — $57.76/oz ▼
• PGMs — Rh ▸ $8,250 · Pt ▼ $1,632 · Pd ▼ $1,269
• Copper — $6.49/lb ▼
• Aluminum — $1.44/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.4014

Smash Scrap Takeaways for Today

• Gold & Silver — Prices are slipping again, so don’t rush; move only high-grade, clean material and hold marginal cats and jewelry if your cash flow allows.
• PGMs — With palladium, platinum, and gold all down and rhodium flat, tighten your cat grading, push buyers on assay transparency, and avoid dumping mixed PGMs on “take-it-or-leave-it” bids.
• Copper — Small drop today, but still rich; keep stripping wire and separating #1 from #2, and use competitive bids on full loads instead of spot-selling partial gaylords.
• Aluminum — Another cent down, so focus on clean, segregated clips and extrusions, avoid selling dirty shred light, and build volume for when the next bounce shows up.
• Big Picture — 0 of 8 metals higher, 6 lower, 2 flat — this is a buyer’s tape, so you need competition and tight documentation on every load before you roll.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $90.36/bbl, up $0.9100 (+1.02%) day-over-day.

US Dollar Index (DXY): 100.35, down 1.16 (-1.14%) day-over-day.

**Energy stays firm, rates stay high. That keeps risk alive for scrap.**

Brent crude is holding around **$90**, up about a buck on the day. That keeps fuel and furnace power costs elevated for mills and shredders, so watch your freight and processing margins. The U.S. dollar index is sliding, but USD/CAD is still around **1.40**, so cross‑border deals don’t get much relief.

On the risk side, the **10‑year** yield is up near **4.7%** while the **2‑year** edged down, so the curve is still tight and money isn’t cheap. Inflation expectations are steady just over **2%**, and the Fed rate hasn’t moved, which means higher financing costs stick around for yards, mills, and auto buyers. Bottom line: energy’s not breaking, rates aren’t dropping, so plan for steady cost pressure and choppy risk in the near term.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,049/oz, down $60.50 (-1.47%) day-over-day. Previous close: $4,110/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

**Gold just slipped, but it’s still crazy high money for clean scrap.** Gold is at about **$4,049/oz**, down around 1.5% today, even though it’s been up in **3 of the last 5 sessions**. With energy staying firm, rates still high, and the dollar soft, buyers will stay picky, so you should expect tight bids on jewelry, dental, and other gold scrap but still very strong payout levels if your material is clean and well-documented.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $57.76/oz, down $1.34 (-2.27%) day-over-day. Previous close: $59.10/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 70.1:1.

**Silver’s still rich, but today it’s taking a breather.** Silver is at **$57.76/oz**, down about **2.3%** on the day, even though it’s been up in **3 of the last 5 sessions**. With energy prices firm, the dollar slipping, and a rich **gold/silver ratio around 70:1**, buyers know silver is still valuable, so you don’t need to rush your scrap out the door, but you should expect some price noise while rates stay high.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,632/oz, down $22.00 (-1.33%) day-over-day. Previous close: $1,654/oz. MoM: +5.6%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,269/oz, down $31.00 (-2.38%) day-over-day. Previous close: $1,300/oz. MoM: +6.3%.
• Palladium 5-day trend: ↑ 3 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: → flat over last 5 sessions.

**PGM prices are soft today, so don’t chase bids out of fear.** Platinum and palladium are both down on the day, even after grinding higher in 3 of the last 5 sessions, while rhodium is just sitting flat. With energy staying firm, rates still high, and Brent at $90.36, this is a sideways, choppy tape — scrap sellers are better off staying picky, pulling multiple quotes, and only moving cats and PGM-rich loads when the numbers make sense for you.

Copper — Current Indicators

• COMEX/Spot Copper: $6.49/lb, down $0.0155 (-0.24%) day-over-day. Previous close: $6.50/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Copper’s still rich, even if today’s price slipped a hair.** Copper is around **$6.49/lb**, down about **2 cents** on the day, but it’s been up in **3 of the last 5 sessions**, so the bigger trend is still firm. With energy staying strong and rates still high, buyers are picky, but good, clean copper is still a premium product, so you don’t need to panic over a small dip.

Aluminum — Current Indicators

• LME Aluminum: $3,170/tonne ($1.44/lb), down $0.0109 (-0.75%) day-over-day. Previous close: $1.45/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Aluminum’s down about a penny today, but the market still has a pulse.** LME aluminum sits around **$1.44/lb**, off about **0.75%**, but it’s been up in **3 of the last 5 sessions**, with firm energy, a softer dollar, and steady demand helping support scrap bids. With mills picky on grade and more buyers chasing clean material, you should expect tight spreads and use photos and clean packing lists to keep your aluminum loads competitive.

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.