Smash Scrap Morning Metals Report – June 2, 2026

Prices as of June 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 — $4,527/oz ▲
• Silver — $76.61/oz ▲
• PGMs — Rh ▼ $8,650 · Pt ▲ $1,952 · Pd ▲ $1,363
• Copper — $6.64/lb ▲
• Aluminum — $1.71/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3837

Smash Scrap Takeaways for Today

• Gold & Silver — With both up about 1–2%, shop your jewelry, coins, and silverware quotes today and push for higher payouts, not “yesterday’s” prices.
• PGMs — Platinum and palladium are firm but rhodium is slipping; move mixed cat loads now but consider holding rhodium-heavy material if your yard isn’t discounting it yet.
• Copper — With copper up about 8 cents, lock in prices on clean wire and tubing today and clear out any borderline “maybe I’ll wait” piles.
• Aluminum — Aluminum is creeping higher; bundle and sell segregated grades (sheet vs extrusion vs cans) to capture the extra 2 cents instead of letting it sit.
• Big Picture — 6 of 8 metals are higher and steel is flat, so this is a seller’s tape — use the strong board to negotiate up, not down.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $93.53/bbl, down $1.69 (-1.77%) day-over-day.

US Dollar Index (DXY): 99.06, up 0.04 (+0.04%) day-over-day.

Energy is a bit softer this morning. **Brent crude** is trading near **$93.50**, down almost **2%**, easing some pressure on diesel and freight costs for yards and haulers. A stronger **U.S. dollar** is back in play, with **DXY just over 99** and **USD/CAD at 1.38**, which can cap upside for dollar‑priced metals and make Canadian scrap a touch cheaper in U.S. terms.

On the risk side, bond markets look calm but still tight. The **10‑year yield sits at 4.45%** while **2‑year is under 4%**, and **inflation expectations near 2.4%** keep real yields firmly positive — a headwind for gold and silver even as safe‑haven demand stays in the story. Factory output and auto production are both ticking higher, which supports industrial demand, but weak consumer sentiment shows end‑user stress. Net takeaway: macro risk is **balanced**, not panicked — enough growth to support steel and copper flows, but higher rates and a firm dollar still argue for selective selling rather than chasing every rally.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,527/oz, up +$44.09 (+0.98%) day-over-day. Previous close: $4,483/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold is trading around **$4,527/oz**, up about **1%** today, and has moved higher in **3 of the last 5 sessions**. With the dollar a bit stronger and energy prices softer, this looks more like a steady grind up than a panic move, so scrap sellers may see slightly better offers but no rush-style premiums yet.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $76.61/oz, up +$1.65 (+2.21%) day-over-day. Previous close: $74.95/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 59.1:1.

Silver is trading around **$76.61/oz**, up about **2.2%** today, but it has still slipped in **3 of the last 5 sessions**, so the short-term trend is a bit shaky. With the **gold/silver ratio near 59:1** and energy prices a touch softer even as oil holds around **$93.53/bbl**, scrap sellers can expect decent bids today but may want to stay flexible on timing if this choppy pattern continues.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,952/oz, up +$29.00 (+1.51%) day-over-day. Previous close: $1,923/oz. MoM: -1.7%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,363/oz, up +$19.00 (+1.41%) day-over-day. Previous close: $1,344/oz. MoM: -9.7%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $8,650/oz, down $50.00 (-0.57%) day-over-day. Previous close: $8,700/oz. MoM: -13.9%.
• Rhodium 5-day trend: ↓ 5 of last 5 sessions.

Platinum and palladium are both **up today**, giving a small boost to cat and PGM scrap quotes, while rhodium is **slipping again** after five straight down sessions. With Brent crude steady around **$93.53/bbl** and the dollar a bit firmer, the tone is calm, so buyers may stay picky on rhodium-heavy material but show a bit more interest where platinum and palladium content is strong.

Copper — Current Indicators

• COMEX/Spot Copper: $6.64/lb, up +$0.0795 (+1.21%) day-over-day. Previous close: $6.56/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper is trading around **$6.64/lb today**, up about **8 cents** and higher in **3 of the last 5 sessions**.[1][2] For scrap sellers, this is a very strong price level, and with the dollar firm and energy a bit softer, yards may stay busy but also picky on grades, so clean, well‑sorted copper will help you capture more of this strength.

Aluminum — Current Indicators

• LME Aluminum: $3,767/tonne ($1.71/lb), up +$0.0160 (+0.95%) day-over-day. Previous close: $1.69/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum is **$1.71/lb**, up about **2 cents** today and up for **4 of the last 5 sessions**. That is a mild positive for scrap sellers, but the market still looks tied to a softer energy tone and a steady dollar, so gains may stay measured.

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.