Smash Scrap Morning Metals Report – March 11, 2026

Prices as of March 11, 2026 at 12:01 PM UTC.

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.

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• Gold — $5,180/oz ▼
• Silver — $86.19/oz ▼
• PGMs — Rh ▸ $11,650 · Pt ▼ $2,160 · Pd ▼ $1,616
• Copper — $5.85/lb ▼
• Aluminum — $1.56/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3567

Smash Scrap Takeaways for Today

• Gold & Silver — Both precious metals dropped today with gold down $8 to $5,180/oz and silver falling $2.51 to $86.19/oz. Our models called both metals higher but were wrong on today's move. Hold off on immediate sales as geopolitical tensions often create quick reversals in precious metals.
• PGMs — Platinum and palladium both declined sharply with platinum down $39 to $2,160/oz and palladium off $30 to $1,616/oz. Despite today's weakness, rhodium held flat at $11,650/oz. Our models predicted PGM strength but missed today's selloff. Detroit and Cleveland auto recyclers should monitor for potential bounce-back opportunities.
• Copper — Industrial copper dropped 7 cents to $5.85/lb as manufacturing demand softened. Pittsburgh and Chicago yards seeing steady flow should consider listing material on Smash Scrap before further declines. Our models called copper flat but underestimated today's weakness.
• Aluminum — Only bright spot today with aluminum up 2 cents to $1.56/lb, gaining 1.20%. Houston and Los Angeles yards should sell aluminum inventory now while prices are rising against the broader metal market trend.
• Big Picture — Broad-based selling hit 5 of 7 metals today with only aluminum posting gains, signaling risk-off sentiment across commodity markets.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $88.06/bbl, down $0.7600 (-0.86%) day-over-day.

Oil dropped 76 cents as Middle East tensions showed signs of cooling, but global leaders are still preparing shields against war-driven energy shocks. The pullback in crude prices eases some cost pressure on scrap processing and transportation, giving yards in Detroit and Chicago a bit more breathing room on diesel expenses.

However, ongoing geopolitical risks keep the macro picture uncertain for American scrap markets. With inflation expectations holding steady at 2.33% and the Fed rate unchanged, industrial buyers remain cautious about large purchases. Safe-haven demand is driving precious metals higher, while base metals like copper consolidate in tight ranges. This mixed environment suggests scrap values may stay choppy as buyers in Houston and Atlanta wait for clearer economic signals before committing to major inventory builds.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $5,180/oz, down $8.00 (-0.15%) day-over-day. Previous close: $5,188/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold dipped today as easing Middle East tensions reduced demand for the safe-haven metal, with scrap sellers in Detroit and Chicago seeing slightly softer prices at local yards. The pullback aligns with cooling oil markets, as investors step back from crisis hedging and focus on everyday supply and demand. Jewelry stores and e-waste recyclers should watch whether this retreat continues or if central bank buying provides a floor under prices.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $86.19/oz, down $2.51 (-2.83%) day-over-day. Previous close: $88.70/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 60.1:1.

Silver pulled back today as easing Middle East tensions reduced demand for safe-haven assets, though the metal's dual role in both investment and industrial applications keeps scrap sellers from Detroit to Atlanta watching closely. The gold-to-silver ratio of 60:1 suggests silver remains relatively affordable compared to gold, potentially attracting more industrial buyers for electronics and solar panel manufacturing. With recent strength in three of the last five sessions, scrap yards processing everything from old electronics to industrial waste should monitor whether this pullback creates buying opportunities or signals a deeper correction ahead.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,160/oz, down $39.00 (-1.77%) day-over-day. Previous close: $2,199/oz.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,616/oz, down $30.00 (-1.82%) day-over-day. Previous close: $1,646/oz.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $11,650/oz, flat day-over-day. Previous close: $11,650/oz.
• Rhodium 5-day trend: ↑ 2 of last 5 sessions.

Platinum and palladium both dropped around $30-40 today as Middle East tensions cooled, reducing some of the safe-haven demand that had been supporting precious metals. Scrap sellers from Detroit to Atlanta should note that rhodium held steady at elevated levels, while palladium's recent weakness over the past week suggests auto recyclers might want to move inventory sooner rather than wait for a rebound. With oil prices falling and easing some transportation costs for scrap yards, the overall environment remains mixed for PGM sellers—rhodium's strength offsetting weakness in the other two metals.

Copper — Current Indicators

• COMEX/Spot Copper: $5.85/lb, down $0.0715 (-1.21%) day-over-day. Previous close: $5.92/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper dipped about seven cents as cooling Middle East tensions helped ease broader commodity pressures, though scrap sellers from Detroit to Atlanta still saw decent pricing levels. The pullback affects all copper grades, with #1 and #2 copper, bare bright, and wire sellers seeing slightly softer payouts at yards today. With copper showing strength in three of the past five trading sessions, sellers should watch whether this tension-relief selling continues or if industrial demand keeps supporting prices.

Aluminum — Current Indicators

• LME Aluminum: $3,434/tonne ($1.56/lb), up +$0.0185 (+1.20%) day-over-day. Previous close: $1.54/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum prices edged higher as easing Middle East tensions helped reduce energy costs for scrap processing operations from Detroit to Atlanta. With crude oil pulling back, yards are seeing some relief on diesel expenses for transportation and sorting equipment, which should help margins for sellers of cast aluminum from auto parts, sheet metal from construction sites, and extrusion materials from window and door manufacturers. The uptick in aluminum values gives scrap dealers a bit more breathing room after recent volatility, though processors remain cautious about global supply chain disruptions.

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.