Smash Scrap Morning Metals Report – May 12, 2026

Prices as of May 12, 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 — $4,695/oz ▼
• Silver — $83.91/oz ▼
• PGMs — Rh ▸ $9,975 · Pt ▼ $2,099 · Pd ▼ $1,463
• Copper — $6.48/lb ▼
• Aluminum — $1.62/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3667

Smash Scrap Takeaways for Today

• Gold & Silver — Hold gold and silver scrap; both down over 1-3% today, wait for rebound as predicted after recent drops.
• PGMs — Sell palladium scrap now to lock in value before further declines as expected; hold rhodium (flat) and platinum (down 2%).
• Copper — Pause copper scrap sales after 0.3% drop; recovery still likely despite wrong call yesterday on demand softening.
• Aluminum — Sell small aluminum lots if needed but hold most inventory; tiny 0.4% dip may reverse with auto demand support.
• Big Picture — 0 of 8 metals higher today; broad sell-off hits 6 metals lower, stay cautious with flat rhodium and steel.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $107.87/bbl, up $3.54 (+3.39%) day-over-day.

**Macro Backdrop — Energy and Risk**

Brent Crude Oil hit $107.87 per barrel. It rose $3.54 today, or +3.39%. This jump ties to Iran war talks stalling, as Trump calls their plan unacceptable. Higher oil lifts trucking and power costs for scrap yards. It may push up heavy melting scrap prices soon.

The 10-year Treasury yield eased to 4.38%. Inflation views ticked up to 2.47%. Fed rate holds at 3.64%. USD/CAD sits at 1.3667, steady for cross-border hauls. Gold gains on Middle East risks, but weak auto output could slow scrap flow from cars.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,695/oz, down $58.03 (-1.22%) day-over-day. Previous close: $4,753/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold fell to $4,695 per ounce today, down 1.22% or $58. Scrap sellers and recyclers see steady demand from high prices and strong recycling trends, making it a good time to sell jewelry or e-waste. Expect a rebound soon for better payout chances.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $83.91/oz, down $3.06 (-3.52%) day-over-day. Previous close: $86.97/oz.
• 5-day trend: ↑ 4 of last 5 sessions.
• Gold/Silver ratio: 56.0:1.

Silver spot prices fell to $83.91 per ounce today, down $3.06 or 3.52%, despite rising 4 of the last 5 sessions. Scrap sellers and recyclers should hold off selling as prices may recover soon amid steady industrial demand from green tech and low scrap supply. Gold/silver ratio at 56:1 shows silver lagging, but Brent crude's climb to $107.87 per barrel hints at broader metal support.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,099/oz, down $42.00 (-1.96%) day-over-day. Previous close: $2,141/oz. MoM: +2.7%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,463/oz, down $37.00 (-2.47%) day-over-day. Previous close: $1,500/oz. MoM: -2.9%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,975/oz, flat day-over-day. Previous close: $9,975/oz. MoM: -2.2%.
• Rhodium 5-day trend: ↑ 1 of last 5 sessions.

PGM prices dipped today, with platinum at $2,099/oz down 2% and palladium at $1,463/oz down 2.5%, while rhodium held flat at $9,975/oz. Scrap sellers face short-term pressure from market deficits in 2024-2025 and low recycling volumes, but higher prices this year are boosting autocatalyst supply growth into 2026. Sell now if you can, as recycling demand is set to double long-term and keep prices steady or softer.

Copper — Current Indicators

• COMEX/Spot Copper: $6.48/lb, down $0.0170 (-0.26%) day-over-day. Previous close: $6.49/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper prices dipped 2 cents to $6.48 per pound today, down 0.26%, but rose in 3 of the last 5 sessions. Scrap sellers should hold steady as demand from U.S. manufacturing, EVs, and infrastructure keeps the market strong despite high oil at $107.87 per barrel. Expect more ups and downs, so compare yard prices before selling.

Aluminum — Current Indicators

• LME Aluminum: $3,565/tonne ($1.62/lb), down $0.0059 (-0.36%) day-over-day. Previous close: $1.62/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum prices fell to $1.62 per pound today, down less than a cent or 0.36%. It dropped in 3 of the last 5 sessions amid higher energy costs from Brent crude oil at $107.87 per barrel. Scrap sellers should hold off selling until auto demand pushes prices back up.

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.