Smash Scrap Morning Metals Report – March 9, 2026

Prices as of March 09, 2026 at 02:21 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 — $5,077/oz ▼
• Silver — $83.61/oz ▼
• PGMs — Rh ▲ $11,650 · Pt ▸ $2,145 · Pd ▲ $1,634
• Copper — $5.77/lb ▼
• Aluminum — $1.53/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3613

Smash Scrap Takeaways for Today

• Gold & Silver — Both metals dropped sharply with gold down $100 and silver down 83 cents. Hold off selling today and wait for a bounce back above $5,100 gold and $84 silver before listing premium jewelry and dental scrap.
• PGMs — Palladium gained $23 and rhodium added $50 while platinum stayed flat. Sell palladium catalytic converters now in Detroit and Chicago yards, but hold rhodium-heavy cats for further gains.
• Copper — Down 7 cents to $5.77/lb, continuing the slide from last week's $5.80 levels. Hold #1 bare bright and electric motor scrap until prices stabilize above $5.85.
• Aluminum — Lost 2 cents to $5.53/lb, giving back some of last week's 2% gain. List clean aluminum extrusion and wheel scrap immediately in Houston and Atlanta before further weakness.
• Big Picture — Mixed day with base metals under pressure while PGMs show strength, suggesting choppy trading ahead.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $105.19/bbl, up $12.32 (+13.27%) day-over-day.

Oil's massive $12.32 jump reflects escalating tensions in the Gulf region, where maritime insurance concerns are mounting after the Treasury's war risk reinsurance announcement. This sharp energy spike puts immediate pressure on scrap operations across Detroit, Chicago, and Houston, where higher diesel costs will squeeze collection margins and transportation budgets. The 10-year yield climbing to 4.13% alongside rising inflation expectations signals the Fed may need to stay aggressive, keeping financing costs elevated for auto recyclers and industrial metal processors.

Higher energy costs typically boost scrap values as primary metal production becomes more expensive, but the magnitude of today's oil surge could overwhelm that benefit in the near term. Operators in Cleveland and Pittsburgh should expect collection route economics to deteriorate quickly, while export-focused yards in Los Angeles and Philadelphia face dual headwinds from stronger shipping costs and a firmer dollar against the Canadian dollar at 1.3613.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $5,077/oz, down $100.10 (-1.93%) day-over-day. Previous close: $5,177/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold pulled back as sellers across Detroit, Chicago, and Houston scrap yards saw prices retreat from recent levels, continuing the metal's choppy performance over the past week. The decline reflects profit-taking after gold's recent run-up, though the precious metal remains supported by ongoing safe-haven demand and central bank purchasing programs. Scrap gold sellers and e-waste recyclers should monitor geopolitical developments and Federal Reserve policy signals, as these factors continue to drive volatility in what has been a generally strong market for precious metals recovery operations.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $83.61/oz, down $0.8260 (-0.98%) day-over-day. Previous close: $84.44/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 60.7:1.

Silver dropped by about 83 cents as the broader metals market softened, continuing the weak trend seen in 3 of the last 5 sessions. For scrap sellers from Detroit to Houston, the gold-to-silver ratio of 60.7 to 1 suggests silver remains relatively undervalued compared to gold, potentially making it an attractive time for buyers of industrial scrap containing silver from electronics and solar panel recycling. Electronics recyclers and auto scrappers should note that silver's dual role as both a precious and industrial metal means pricing can be volatile, but current levels still support decent margins for high-grade electronic scrap and catalytic converter recovery operations.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,145/oz, flat day-over-day. Previous close: $2,145/oz.
• Platinum 5-day trend: → flat over last 5 sessions.
• Palladium (Pd): $1,634/oz, up +$23.00 (+1.43%) day-over-day. Previous close: $1,611/oz.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $11,650/oz, up +$50.00 (+0.43%) day-over-day. Previous close: $11,600/oz.
• Rhodium 5-day trend: ↓ 3 of last 5 sessions.

Precious metals scrap sellers in Detroit, Chicago, and Houston saw mixed conditions as palladium jumped higher while platinum held steady and rhodium posted modest gains. This continues the recent pattern from last week where palladium and rhodium have shown weakness over multiple sessions, making today's uptick noteworthy for catalytic converter recyclers and auto dismantlers. With palladium still facing downward pressure over the five-day period despite today's bounce, scrap yards should watch whether this rally can sustain or if the metal falls back toward recent lows.

Copper — Current Indicators

• COMEX/Spot Copper: $5.77/lb, down $0.0690 (-1.18%) day-over-day. Previous close: $5.84/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper dropped about 7 cents to close below $5.80 per pound, continuing the downward pressure seen in 3 of the last 5 trading sessions. Scrap sellers across Detroit, Chicago, and Houston markets should expect tighter margins on #1 and #2 copper, bare bright wire, and mixed copper grades as yards adjust their buy prices lower. With industrial metals showing weakness alongside broader commodity pressure, sellers might want to move material sooner rather than wait for a bounce that may not come this week.

Aluminum — Current Indicators

• LME Aluminum: $3,382/tonne ($1.53/lb), down $0.0201 (-1.29%) day-over-day. Previous close: $1.55/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum gave back two cents after last Friday's strong rally, as scrap yards from Detroit to Houston saw prices pull back slightly amid mixed trading signals. Despite today's modest decline, the metal has shown strength in three of the past five sessions, suggesting underlying demand remains solid for cast aluminum from auto recyclers and sheet metal from industrial sellers. Watch for any supply chain developments or trade policy shifts that could impact pricing for extrusion and casting grades across major scrap markets.

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.