Smash Scrap Morning Metals Report – March 26, 2026

Prices as of March 26, 2026 at 12:31 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 — $4,441/oz ▼
• Silver — $67.84/oz ▼
• PGMs — Rh ▸ $10,800 · Pt ▼ $1,852 · Pd ▼ $1,347
• Copper — $5.51/lb ▼
• Aluminum — $1.49/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3801

Smash Scrap Takeaways for Today

• Gold & Silver — Hold off on moving large jewelry and electronics inventories as both metals dropped sharply (gold down $66, silver down $3.45). Our models called both higher but missed — wait for stabilization before selling major lots to Detroit and Chicago buyers.
• PGMs — Automotive cat processors in Pittsburgh and Cleveland may lower offers temporarily with platinum down $73 and palladium off $50. Hold catalytic converters unless you need immediate cash flow, as both metals remain oversold from recent weeks.
• Copper — Safe to continue normal wire and plumbing sales as copper only dipped less than a cent to $5.51/lb. Houston and Los Angeles industrial buyers should maintain steady pricing on this minimal move.
• Aluminum — Good day to move inventory as aluminum gained 2 cents to $1.49/lb, up 1.2%. List clean extrusion and sheet on Smash Scrap while buyers in Atlanta and Philadelphia reflect this uptick in their offers.
• Big Picture — Broad weakness with only 1 of 8 metals higher today, suggesting defensive positioning until market sentiment improves.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $101.38/bbl, up $3.42 (+3.49%) day-over-day.

Oil's sharp $3.42 jump reflects escalating Middle East tensions after Iran suspended nuclear talks, pushing energy costs higher across American industrial centers. The 10-year Treasury yield climbing to 4.39% signals investors expect stronger economic growth, which typically boosts demand for steel and other industrial metals. However, rising borrowing costs could slow construction and manufacturing activity in key scrap markets like Detroit and Chicago.

Higher energy prices create a mixed picture for scrap dealers. Transportation costs from major collection points to mills in Pittsburgh and Cleveland will squeeze margins, but energy-intensive steel production becomes more expensive, often pushing mills to rely more heavily on scrap over virgin materials. The stronger Canadian dollar at 1.38 makes cross-border scrap flows less profitable for American yards, though domestic demand should remain solid as industrial activity picks up. Auto recyclers in Detroit may benefit as higher fuel costs drive more consumers toward used parts rather than new components.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,441/oz, down $66.23 (-1.47%) day-over-day. Previous close: $4,508/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold retreated as escalating Middle East tensions failed to provide the usual safe-haven boost, with the precious metal giving back some of yesterday's modest gains. The pullback comes despite oil's sharp jump to $101.38 per barrel and rising Treasury yields signaling stronger economic expectations, suggesting investors are rotating toward growth assets rather than defensive plays. Scrap gold sellers from Detroit to Houston should expect steady but not premium pricing from jewelry buyers and e-waste processors, as gold's recent weakness around the $4,440 level may persist until geopolitical premiums stabilize or central bank buying activity resurfaces.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $67.84/oz, down $3.45 (-4.83%) day-over-day. Previous close: $71.28/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 65.5:1.

Silver dropped sharply as Middle East tensions and rising Treasury yields created headwinds for the white metal, though the pullback may present opportunities for electronics recyclers and industrial scrap sellers. The gold-to-silver ratio widening to 65.5:1 suggests silver is becoming relatively cheaper compared to gold, which historically attracts bargain hunters in both precious metals and industrial applications. With silver serving dual roles in jewelry and critical electronics like solar panels, scrap yards from Detroit's auto sector to Houston's industrial belt should monitor whether this weakness continues, as my previous prediction suggested waiting for stabilization before moving large electronics inventories.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,852/oz, down $73.00 (-3.79%) day-over-day. Previous close: $1,925/oz. MoM: -14.1%.
• Platinum 5-day trend: ↓ 4 of last 5 sessions.
• Palladium (Pd): $1,347/oz, down $50.00 (-3.58%) day-over-day. Previous close: $1,397/oz. MoM: -23.7%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $10,800/oz, flat day-over-day. Previous close: $10,800/oz. MoM: -8.1%.
• Rhodium 5-day trend: ↓ 3 of last 5 sessions.

Precious metals took a hit as platinum dropped $73 and palladium fell $50, continuing the downward pressure seen over recent sessions while rhodium held steady at current levels. The combination of higher Treasury yields and escalating Middle East tensions creating energy cost pressures appears to be weighing on automotive catalyst demand, particularly affecting scrap pricing from Detroit to Los Angeles recycling centers. With both platinum and palladium showing weakness in most recent sessions, auto recyclers and catalyst processors may want to monitor whether this softness persists or if industrial demand provides support at these lower levels.

Copper — Current Indicators

• COMEX/Spot Copper: $5.51/lb, down $0.0045 (-0.08%) day-over-day. Previous close: $5.52/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper held steady at current levels despite rising energy costs from Middle East tensions, with industrial wire buyers in Detroit and Chicago maintaining consistent pricing as predicted. The fractional decline reflects normal trading fluctuations rather than fundamental weakness, keeping #1 and #2 copper values stable across major scrap yards from Houston to Philadelphia. With copper showing resilience even as oil jumped over $3, scrap sellers can continue moving bare bright and wire inventory at steady rates, though watch for any shifts in industrial demand if energy costs continue climbing.

Aluminum — Current Indicators

• LME Aluminum: $3,284/tonne ($1.49/lb), up +$0.0177 (+1.20%) day-over-day. Previous close: $1.47/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum gained about 2 cents as rising oil prices from Middle East tensions boost energy costs across Detroit, Chicago, and other industrial centers, making the metal more attractive relative to energy-intensive production. The strong momentum over recent sessions suggests cast aluminum sellers should find steady buyer interest, while sheet and extrusion dealers can likely move inventory at current levels without rushing. With Treasury yields climbing on growth expectations, industrial aluminum demand from automotive recyclers in the Rust Belt should remain solid, supporting this gradual price building trend.

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.