Smash Scrap Morning Metals Report – May 11, 2026

Prices as of May 11, 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 — $4,691/oz ▼
• Silver — $82.81/oz ▲
• PGMs — Rh ▲ $9,975 · Pt ▲ $2,064 · Pd ▼ $1,474
• Copper — $6.38/lb ▲
• Aluminum — $1.61/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3686

Smash Scrap Takeaways for Today

• Gold & Silver — Hold gold scrap and sell silver now while up 3% to $82.81/oz for quick profits before any pullback.
• PGMs — List rhodium and platinum scrap today as both edge higher (rh up 0.25% to $9,975/oz, pt up 0.34% to $2,064/oz); skip palladium down to $1,474/oz.
• Copper — Sell copper scrap at $6.38/lb, up 10 cents, to lock in the 1.5% gain amid strong demand.
• Aluminum — Move aluminum scrap fast at $1.61/lb, up 2 cents or 1.4%, before prices cool off.
• Big Picture — 5 of 8 metals higher today.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $104.19/bbl, up $3.70 (+3.68%) day-over-day.

## Macro Backdrop — Energy and Risk **Brent Crude Oil:** $104.19/bbl, up $3.70 (+3.68%) day-over-day. Oil jumped $3.70 today as US-Iran tensions grow. Iran called its war response "generous," but Trump rejected it. This keeps markets on edge, raising fuel costs for scrap trucking from yards in Detroit to Houston. Higher diesel hurts margins now, but it can lift scrap prices later as steel mills pay more for energy.

**USD/CAD:** 1.3686. Steady Canadian dollar helps cross-border scrap flows. Canada launched $1.5 billion in aid for its metals sector hit by US tariffs. Expect tighter scrap supply as energy costs climb and auto output dips. 10Y yield at 4.41% adds borrowing pressure for yards.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,691/oz, down $24.17 (-0.51%) day-over-day. Previous close: $4,715/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold closed at $4,691 per ounce today, down $24 or 0.5% from yesterday. It rose in 3 of the last 5 sessions, but scrap sellers should lock in profits now as pullbacks continue after recent gains—my call from last week proved right. Recycling demand stays strong with the market projected to grow 8% to $17 billion this year, fueled by high prices and more scrap supply.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $82.81/oz, up +$2.46 (+3.06%) day-over-day. Previous close: $80.35/oz.
• 5-day trend: ↑ 5 of last 5 sessions.
• Gold/Silver ratio: 56.6:1.

Silver scrap prices hit $82.81 per ounce today, up $2.46 or 3.06% from yesterday. This marks gains in 5 of the last 5 days, bucking my earlier call for a pullback—sellers, hold off and watch the strong uptrend fueled by industrial demand. With oil at $104.19 a barrel amid US-Iran tensions, trucking costs stay high, so time your sales carefully.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,064/oz, up +$7.00 (+0.34%) day-over-day. Previous close: $2,057/oz. MoM: +1.0%.
• Platinum 5-day trend: ↑ 4 of last 5 sessions.
• Palladium (Pd): $1,474/oz, down $3.00 (-0.20%) day-over-day. Previous close: $1,477/oz. MoM: -2.2%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,975/oz, up +$25.00 (+0.25%) day-over-day. Previous close: $9,950/oz. MoM: -2.2%.
• Rhodium 5-day trend: → flat over last 5 sessions.

PGM prices are mixed today for scrap sellers. Platinum rose to $2,064 per ounce, up 0.34%, and rhodium hit $9,975 per ounce, up 0.25%, while palladium dipped to $1,474 per ounce, down 0.20%. With rhodium over $9,900, get multiple quotes from licensed buyers now, as high energy costs from $104 oil add trucking expenses—aim for 30%+ of spot value on catalytic converters.

Copper — Current Indicators

• COMEX/Spot Copper: $6.38/lb, up +$0.0965 (+1.54%) day-over-day. Previous close: $6.28/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Copper scrap prices hit $6.38 per pound today, up 10 cents or 1.54% from yesterday. The metal climbed in 4 of the last 5 days, fueled by tight supply from tariffs, strong U.S. manufacturing demand, and higher energy costs from oil at $104.19 per barrel amid US-Iran tensions. Scrap sellers should cash in now as the uptrend holds strong into mid-2026.

Aluminum — Current Indicators

• LME Aluminum: $3,552/tonne ($1.61/lb), up +$0.0220 (+1.38%) day-over-day. Previous close: $1.59/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum scrap hit $1.61 per pound today, up 2 cents or 1.38% from yesterday, with gains in 3 of the last 5 days. Higher energy costs from rising oil prices are helping push values up for scrap sellers. Lock in prices now before any pullback hits.

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.