Smash Scrap Morning Metals Report – March 27, 2026

Prices as of March 27, 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 — $4,426/oz ▲
• Silver — $68.03/oz ▼
• PGMs — Rh ▸ $10,800 · Pt ▼ $1,834 · Pd ▲ $1,361
• Copper — $5.46/lb ▼
• Aluminum — $1.47/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3844

Smash Scrap Takeaways for Today

• Gold & Silver — Gold at $4,426/oz gained $23.40 today while silver at $68.03/oz lost 51 cents. Sell gold inventory to Detroit and Chicago buyers who will reflect this strength in their offers. Hold silver lots until stabilization — our models correctly called silver weakness, and the downward pressure continues.
• PGMs — Palladium up $1 to $1,361/oz shows modest recovery, but platinum dropped $2 to $1,834/oz. Rhodium holds flat at $10,800/oz. List palladium-rich catalytic converters now to Houston processors before momentum fades. Wait on platinum-heavy cats until buyers in Los Angeles and Atlanta adjust their pricing upward.
• Copper — Down about 2 cents to $5.46/lb in a minor pullback. Cleveland and Pittsburgh industrial buyers should maintain steady pricing on this minimal move. Continue normal copper wire and tubing sales — this small dip doesn't change the overall demand picture.
• Aluminum — Lost less than a cent to $1.47/lb, confirming our previous analysis that aluminum downward pressure persists. Clear inventory quickly with Philadelphia and Atlanta buyers who should reflect current weakness in their offers rather than holding for recovery.
• Big Picture — Only 2 of 8 metals higher today in a mixed market that favors selective selling over broad inventory holds.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $104.47/bbl, up $3.41 (+3.37%) day-over-day.

Oil's $3.41 jump reflects growing tensions from the U.S.-Israeli conflict with Iran, which is creating major disruptions across global trade networks. Higher energy costs typically boost scrap values since transportation and processing become more expensive, making recycled materials more attractive than virgin production. The inflationary pressure from sustained oil rallies above $100 should support base metals like copper and aluminum as industrial buyers in Houston and Detroit seek cost-effective alternatives.

However, rising bond yields and Fed policy uncertainty are creating headwinds for precious metals, with gold and silver facing selling pressure despite geopolitical risks. Scrap yards in Chicago and Atlanta should expect mixed signals - while higher oil supports industrial metal pricing through increased infrastructure spending, the broader economic uncertainty may slow buyer demand. Recent copper research suggesting oversupply concerns could limit upside, but nickel's recent strength indicates selective opportunities in specialty alloys for processors in Pittsburgh and Cleveland.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,426/oz, up +$23.40 (+0.53%) day-over-day. Previous close: $4,402/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold's modest gain comes as ongoing tensions from the U.S.-Israeli conflict with Iran continue supporting demand for safe-haven assets, with higher oil costs also making recycled gold more attractive than new mining. Scrap gold sellers from Detroit to Los Angeles should find steady buyer interest, especially from jewelers and e-waste recyclers capitalizing on the current pricing environment. With gold showing strength in three of the last five sessions, the metal is maintaining its appeal as both an inflation hedge and geopolitical insurance during these uncertain times.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $68.03/oz, down $0.5120 (-0.75%) day-over-day. Previous close: $68.54/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 65.1:1.

Silver dropped about 51 cents as ongoing tensions from the U.S.-Israeli conflict with Iran continue disrupting global markets, though the precious metal is struggling to benefit from the typical safe-haven demand that higher oil prices usually create. With the gold-to-silver ratio at 65.1-to-1, silver remains relatively cheap compared to gold, potentially offering better value for scrap sellers in Detroit, Chicago, and Houston who deal in electronics recycling and industrial materials. Electronics recyclers should note that silver's dual role as both a precious metal and critical industrial component in solar panels means demand could strengthen if infrastructure spending increases, but the recent weakness across 3 of the last 5 sessions suggests waiting for price stabilization before moving large quantities.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,834/oz, down $2.00 (-0.11%) day-over-day. Previous close: $1,836/oz. MoM: -19.6%.
• Platinum 5-day trend: ↓ 4 of last 5 sessions.
• Palladium (Pd): $1,361/oz, up +$1.00 (+0.07%) day-over-day. Previous close: $1,360/oz. MoM: -22.8%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $10,800/oz, flat day-over-day. Previous close: $10,800/oz. MoM: -10.7%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

Platinum group metals showed mixed signals as geopolitical tensions continue supporting the broader commodities complex. Platinum edged down slightly while palladium gained modest ground, with rhodium holding steady at elevated levels—all reflecting the market's cautious positioning amid ongoing supply chain disruptions from the U.S.-Israeli conflict with Iran. Scrap sellers with catalytic converter material should find steady buyer interest from processors in Detroit and Chicago, as higher transportation costs from rising oil prices make recycled PGMs increasingly attractive compared to mining new material.

Copper — Current Indicators

• COMEX/Spot Copper: $5.46/lb, down $0.0230 (-0.42%) day-over-day. Previous close: $5.49/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper edged down about 2 cents today, continuing its recent weakness with three declining sessions in the past five days. Despite rising oil prices from Middle East tensions typically supporting recycled metals through higher processing costs, copper is struggling to find its footing around the $5.46 level. Scrap sellers in Detroit, Houston, and Los Angeles should expect steady but cautious pricing from industrial buyers, with #1 and #2 copper maintaining current offer levels while bare bright and wire grades may see slightly softer demand until the downward pressure eases.

Aluminum — Current Indicators

• LME Aluminum: $3,232/tonne ($1.47/lb), down $0.0078 (-0.53%) day-over-day. Previous close: $1.47/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum dipped slightly below a cent and a half per pound, giving back some of yesterday's gains as markets showed mixed signals despite rising oil costs from Middle East tensions. The recent momentum has been mostly positive with four up sessions in the past five days, suggesting steady buyer interest from Detroit auto recyclers and Chicago industrial processors. Cast aluminum sellers should find consistent demand, while sheet and extrusion grades may see buyers in Atlanta and Los Angeles maintaining steady offers as transportation costs from higher energy prices make recycled aluminum more attractive than virgin production.

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.