Smash Scrap Morning Metals Report – May 22, 2026

Prices as of May 22, 2026 at 07:31 AM CDT.

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 — $4,523/oz ▼
• Silver — $75.81/oz ▼
• PGMs — Rh ▸ $9,650 · Pt ▼ $1,933 · Pd ▼ $1,343
• Copper — $6.36/lb ▲
• Aluminum — $1.65/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3783

Smash Scrap Takeaways for Today

• Gold & Silver — Both are sliding, so keep clean gold and silver scrap back today and wait for a bounce before making big yard runs.
• PGMs — Platinum and palladium are under pressure; slow-roll converter and PGM sales and only move the low-grade or cash‑urgent units.
• Copper — Price is edging up again, so this is a good window to ship bright wire, #1, and clean motors while the board stays firm.
• Aluminum — Aluminum is grinding higher; take advantage by moving segregated cans, sheet, and extrusion now instead of waiting for a perfect top.
• Big Picture — 2 of 8 metals are higher with precious down and base slightly firmer, so lean into copper/aluminum sales and stay cautious on gold, silver, and PGMs.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $103.13/bbl, down $1.40 (-1.34%) day-over-day.

US Dollar Index (DXY): 99.31, up 0.34 (+0.34%) day-over-day.

Oil is easing. Brent crude sits near $103, down about $1.40, as traders price out some war risk and focus more on demand. That takes a bit of pressure off freight and cutting decks, but it also hints that growth is not booming. The U.S. dollar is a bit stronger, with DXY near 99.3 and USD/CAD at 1.3783, which slightly weighs on dollar‑priced metals and trims upside for exporters paid in loonies.

On the risk side, long‑term rates slipped, with the 10‑year yield down to about 4.6%, and inflation expectations ticking lower. The Fed is on hold, but easier yields and stronger auto production numbers point to steady, not hot, industrial activity. Net effect for yards: energy risk is calming from “panic” to “cautious,” which can support stable scrap flows, but a firmer dollar and softer oil cap big near‑term price spikes.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,523/oz, down $20.28 (-0.45%) day-over-day. Previous close: $4,544/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold is around $4,523/oz today, down about 0.5% on the day, but it’s still near very strong levels after rising in 3 of the last 5 sessions. With the dollar a bit stronger and oil easing, yards may shade bids slightly, but scrap sellers and recyclers can still expect solid payout levels, especially on sorted, higher‑karat lots.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $75.81/oz, down $0.9565 (-1.25%) day-over-day. Previous close: $76.77/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 59.7:1.

Silver is around $75.81/oz, down about 1.25% today, but it’s still up over most of this week with three gains in the last five sessions. With the dollar a bit stronger and oil easing, expect more choppy moves, so scrap sellers may want to move material on small rallies rather than wait for a big spike.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,933/oz, down $35.00 (-1.78%) day-over-day. Previous close: $1,968/oz. MoM: -6.6%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,343/oz, down $34.00 (-2.47%) day-over-day. Previous close: $1,377/oz. MoM: -12.2%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,650/oz, flat day-over-day. Previous close: $9,650/oz. MoM: -4.9%.
• Rhodium 5-day trend: ↓ 4 of last 5 sessions.

Platinum and palladium are both down today, even though they have risen in three of the last five sessions, so buyers may bid a bit softer on converter scrap. Rhodium is flat on the day but has slipped in most recent sessions, which can pressure mixed PGM cat prices, so scrap sellers should expect cautious offers and be ready to move material on any small bounce.

Copper — Current Indicators

• COMEX/Spot Copper: $6.36/lb, up +$0.0135 (+0.21%) day-over-day. Previous close: $6.35/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Copper is at $6.36 per pound today, up about a penny and higher in 4 of the last 5 sessions, so the uptrend is still intact. With oil easing and the dollar a bit stronger, this slow, steady climb suggests yards may stay firm on clean bright, #1, and coils, so sellers can keep moving material into this strength.

Aluminum — Current Indicators

• LME Aluminum: $3,646/tonne ($1.65/lb), up +$0.0034 (+0.21%) day-over-day. Previous close: $1.65/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum is about $1.65 per pound today, up a hair and higher in 4 of the last 5 sessions. With oil easing and the dollar firm but not surging, yards are cautious but not scared, so clean sheet, extrusion, and cans look fine to sell into this slow grind higher.

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.