Smash Scrap Morning Metals Report – June 3, 2026

Prices as of June 03, 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 — $4,449/oz ▼
• Silver — $74.18/oz ▼
• PGMs — Rh ▼ $8,400 · Pt ▼ $1,912 · Pd ▼ $1,329
• Copper — $6.61/lb ▼
• Aluminum — $1.69/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3834

Smash Scrap Takeaways for Today

• Gold & Silver — Prices are lower, so hold only if you expect a fast bounce; otherwise, lock in current lots and keep new material moving before more softening hits payouts.
• PGMs — Platinum and palladium are both down, and palladium is weaker, so sell urgent PGM material now and do not wait on lower-grade lots that can lose value quickly.
• Copper — Copper slipped again, so ship clean, well-sorted copper now and avoid mixing loads, since dirty material will get hit hardest if the board falls further.
• Aluminum — Aluminum is off today, so clear segregated aluminum while the spread is still workable and do not let it sit if trucking or yard timing can slow your sale.
• Big Picture — The board is soft across the board, with 0 of 8 metals higher today, 7 lower, and 1 flat, so sellers should move near-term tonnage and protect margin on clean material.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $98.29/bbl, up $2.17 (+2.26%) day-over-day.

US Dollar Index (DXY): 99.38, up 0.47 (+0.48%) day-over-day.

**Energy costs are higher this morning.** Brent crude is up to **$98.29** a barrel, and that can keep pressure on scrap freight and processing costs. The stronger oil move also adds risk to the market, since higher fuel costs can filter into hauling and production.[1]

The **U.S. dollar is firmer**, with DXY at **99.38** and USD/CAD at **1.3834**. A stronger dollar can weigh on metals, but the market is still dealing with a **higher 10-year yield at 4.47%** and a **2-year yield at 4.05%**, which keeps financing tight and adds caution to buying.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,449/oz, down $35.28 (-0.79%) day-over-day. Previous close: $4,485/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold is trading around **$4,449/oz**, down about **0.8%** today, but it has still closed higher in **3 of the last 5 sessions**, so prices are holding fairly strong. With gold still rich and energy costs like **Brent at $98.29** keeping processing and freight expensive, scrap sellers may want to lock in decent margins on good lots instead of waiting for a perfect price spike that may not show up soon.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $74.18/oz, down $0.9270 (-1.23%) day-over-day. Previous close: $75.11/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 60.0:1.

Silver is trading around **$74.18/oz**, down about **93 cents** today, and it has fallen in **3 of the last 5 sessions**.[1] With the **gold/silver ratio near 60:1** and energy costs like **Brent at $98.29** keeping freight and processing expensive, scrap sellers may want to shop hard for strong bids and be ready to move good, clean silver lots when local yards are paying close to spot.[1]

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,912/oz, down $15.00 (-0.78%) day-over-day. Previous close: $1,927/oz. MoM: -1.6%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,329/oz, down $23.00 (-1.70%) day-over-day. Previous close: $1,352/oz. MoM: -9.1%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $8,400/oz, down $50.00 (-0.59%) day-over-day. Previous close: $8,450/oz. MoM: -16.4%.
• Rhodium 5-day trend: ↓ 5 of last 5 sessions.

PGM prices are softer today, which can trim payouts for scrap sellers. Platinum is at **$1,912/oz**, palladium at **$1,329/oz**, and rhodium at **$8,400/oz**, with all three down and rhodium lower in *all* of the last five sessions[2]. Higher Brent crude at **$98.29** can also keep freight and processing costs firm, so sellers may want to move urgent lots and keep an eye on the next price bounce[2][1].

Copper — Current Indicators

• COMEX/Spot Copper: $6.61/lb, down $0.0630 (-0.94%) day-over-day. Previous close: $6.67/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper is around **$6.61/lb**, down about **6 cents** today, but it has still moved up in **3 of the last 5 sessions**.[1] Even with today’s dip and a stronger dollar, copper is holding at very strong levels, so scrap sellers can still expect solid yard offers, though rising **energy costs** may eat into some of that upside through higher freight and processing bills.[1]

Aluminum — Current Indicators

• LME Aluminum: $3,724/tonne ($1.69/lb), down $0.0171 (-1.00%) day-over-day. Previous close: $1.71/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum is around **$1.69 per pound**, down about **2 cents** today, but it has still moved higher in **4 of the last 5 sessions**, so the uptrend is not broken yet. With **energy costs and freight staying high**, yards may be quicker to discount dirty or mixed aluminum, so clean, well-sorted loads are still your best bet to hold margins.

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.