Smash Scrap Morning Metals Report – June 4, 2026

Prices as of June 04, 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 — $4,501/oz ▲
• Silver — $74.48/oz ▲
• PGMs — Rh ▼ $8,250 · Pt ▲ $1,899 · Pd ▲ $1,312
• Copper — $6.52/lb ▲
• Aluminum — $1.67/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3884

Smash Scrap Takeaways for Today

• Gold & Silver — Lock in any clean bench sweeps, dental, and coin scrap today while both are popping; don’t sit on settled lots.
• PGMs — With platinum and palladium up and rhodium still sliding, prioritize moving cat loads heavy in Pt/Pd and hold rhodium‑rich cores if you can.
• Copper — Board’s a bit higher again, and I was too bearish last week, so move #1 and bright now and tighten the spread you quote yards and peddlers.
• Aluminum — With aluminum a touch softer, only sell when you’ve got full, well‑packed non‑ferrous loads and push harder on downgrade deductions.
• Big Picture — Five of eight metals are up and steel is flat, so treat this as a seller’s tape but still quote each load off today’s board, not hope.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $94.79/bbl, down $2.56 (-2.63%) day-over-day.

US Dollar Index (DXY): 99.24, up 0.04 (+0.04%) day-over-day.

**Oil is softer, and that trims some risk pressure.** Brent is down to **$94.79** a barrel, off **2.6%** on the day. That can ease fuel costs for haulage and processing, but it also points to a cooler risk tone in the market.[1]

The **dollar is steady to firm**. USD/CAD sits at **1.3884**, and the DXY is up a touch at **99.24**. The **10-year yield** is at **4.46%**, while inflation expectations are at **2.38%**, leaving real rates still positive. That keeps some pressure on metals tied to growth and makes buyers a bit more careful on new coverage.[1]

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,501/oz, up +$60.68 (+1.37%) day-over-day. Previous close: $4,441/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

**Gold’s still climbing, so don’t sleep on your sweeps and pulls.** Gold is around **$4,501/oz**, up about **1.4% today** and higher in **3 of the last 5 sessions**. With oil easing and some risk pressure coming off, this move looks more like steady buying than panic, so it’s a decent time to tighten up your gold sorting and make sure you’re not giving away value in boards, connectors, and jewelry scrap.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $74.48/oz, up +$1.63 (+2.24%) day-over-day. Previous close: $72.85/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 60.4:1.

**Silver is firm at $74.48 an ounce, up $1.63 today, but the tape is still choppy.** The gold-silver ratio sits at 60.4:1, and the 5-day trend is down in 3 of the last 5 sessions, so this is not a straight-up move. [4]

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,899/oz, up +$47.00 (+2.54%) day-over-day. Previous close: $1,852/oz. MoM: -2.7%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,312/oz, up +$28.00 (+2.18%) day-over-day. Previous close: $1,284/oz. MoM: -11.0%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $8,250/oz, down $150.00 (-1.79%) day-over-day. Previous close: $8,400/oz. MoM: -17.1%.
• Rhodium 5-day trend: ↓ 5 of last 5 sessions.

**PGM prices are split today, so you need to think lot-by-lot, not one flat number.** Platinum at **$1,899/oz** and palladium at **$1,312/oz** are both up and have risen in 3 of the last 5 sessions, which helps cats and PGM-heavy core loads. Rhodium is the problem child at **$8,250/oz**, down again and red 5 days straight, so don’t expect yesterday’s rhodium numbers to hold on mixed batches.

Copper — Current Indicators

• COMEX/Spot Copper: $6.52/lb, up +$0.0410 (+0.63%) day-over-day. Previous close: $6.48/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Copper is still paying you to stay organized.** Copper is around **$6.52/lb**, up about **4 cents** today and higher in **3 of the last 5** sessions. Oil is softer and the dollar is steady, so this move looks like normal buying, not panic – good time to keep stripping, grading clean, and be ready to move loads if your yard is paying close to sheet.

Aluminum — Current Indicators

• LME Aluminum: $3,671/tonne ($1.67/lb), down $0.0130 (-0.77%) day-over-day. Previous close: $1.68/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Aluminum is a touch softer today, but it’s not falling apart.** Aluminum sits around **$1.67/lb**, down about a penny, but it’s still up in **3 of the last 5 sessions**, and easier oil and a calmer macro backdrop are helping keep a floor under the market rather than adding new pressure.

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.