Smash Scrap Morning Metals Report – May 18, 2026

Prices as of May 18, 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 — $4,549/oz ▲
• Silver — $76.75/oz ▲
• PGMs — Rh ▼ $9,900 · Pt ▼ $1,964 · Pd ▼ $1,393
• Copper — $6.26/lb ▼
• Aluminum — $1.62/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3752

Smash Scrap Takeaways for Today

• Gold & Silver — Use today’s small bounce to move out clean jewelry and coin scrap; lock in tickets faster than usual since both metals just came off a bigger pullback.
• PGMs — Hold most platinum, palladium, and rhodium scrap if you can; prices are slipping and my earlier “PGM bounce” call hasn’t hit yet, so don’t rush large loads.
• Copper — Don’t sit on big bins; move #1 and bare bright now before more downside, but tighten deductions on low-grade wire and motors to protect margins.
• Aluminum — With price basically flat, focus on volume and clean separation (sheet vs extrusion vs cast) rather than timing the market.
• Big Picture — Only 2 of 8 metals are up today (gold, silver); the tape is still soft overall, so favor quick turns and low inventory risk.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $109.77/bbl, up $0.5300 (+0.49%) day-over-day.

## Macro Backdrop — Energy and Risk

Brent crude is holding high at $109.77, up about 53 cents. Expensive oil keeps diesel and power costs firm for yards and haulers, so moving heavy steel and shred does not get any cheaper. With inflation expectations ticking up and CPI still rising, most big buyers expect costs to stay hot across the whole metals chain.

The U.S. dollar index is soft, while USD/CAD sits near 1.38. A weaker greenback can help U.S. export flows, but the higher 10-year yield at 4.47% means borrowing is not cheap for mills or processors. Auto production is improving, which is a plus for prime and shred supply, but Chinese scrap price weakness reminds us global demand is still uneven.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,549/oz, up +$6.75 (+0.15%) day-over-day. Previous close: $4,542/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold is up a touch today at about $4,549/oz, but it has slipped in 4 of the last 5 sessions, so the big run has cooled for now. Scrap sellers and recyclers can still lock in very strong returns at these levels, but should not count on the same fast gains we saw earlier in the rally.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $76.75/oz, up +$0.7725 (+1.02%) day-over-day. Previous close: $75.98/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 59.3:1.

Silver is around $76.75/oz today, up about 77 cents, but it has still slipped in 3 of the last 5 sessions. Scrap sellers and recyclers can expect firmer bids than late last week, but buyers stay cautious, so this is more of a short bounce than a clear new uptrend.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,964/oz, down $15.00 (-0.76%) day-over-day. Previous close: $1,979/oz. MoM: -6.5%.
• Platinum 5-day trend: ↓ 4 of last 5 sessions.
• Palladium (Pd): $1,393/oz, down $1.00 (-0.07%) day-over-day. Previous close: $1,394/oz. MoM: -9.7%.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $9,900/oz, down $25.00 (-0.25%) day-over-day. Previous close: $9,925/oz. MoM: -2.0%.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

PGM prices are under a little pressure today. Platinum and palladium both slipped, and rhodium also eased, so scrap sellers may see softer bids for now. High oil still keeps yard costs firm, but it is not giving these metals much lift today.

Copper — Current Indicators

• COMEX/Spot Copper: $6.26/lb, down $0.0325 (-0.52%) day-over-day. Previous close: $6.29/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Copper is soft at $6.26 a pound, down about 3 cents today. It has also fallen in four of the last five sessions, so scrap sellers may see less lift for now. Higher Brent crude near $109.77 keeps yard and hauling costs firm, but that has not been enough to turn copper higher yet.

Aluminum — Current Indicators

• LME Aluminum: $3,563/tonne ($1.62/lb), down $0.0005 (-0.03%) day-over-day. Previous close: $1.62/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Aluminum is at $1.62 per pound, basically flat today, with prices down less than a cent and slipping in 4 of the last 5 sessions. High oil and power costs are still a headwind, so yards should watch margins and stay picky on low-grade or hard-to-move aluminum scrap.

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.