Smash Scrap Morning Metals Report – May 4, 2026

Prices as of May 04, 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 — $4,587/oz ▼
• Silver — $73.81/oz ▼
• PGMs — Rh ▸ $10,050 · Pt ▲ $2,006 · Pd ▲ $1,513
• Copper — $5.94/lb ▼
• Aluminum — $1.60/lb ▸
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3576

Smash Scrap Takeaways for Today

• Gold & Silver — Sell gold and silver scrap now as both dropped today (gold -0.51%, silver -2.03%) with silver weakness continuing as predicted.
• PGMs — Sell catalytic converters with platinum up 1.06% and palladium up 0.20%; rhodium flat at $10,050/oz offers steady payout.
• Copper — Sell copper scrap after 0.34% drop to $5.94/lb amid chaotic swings—lock in value before more whiplash hits.
• Aluminum — Hold aluminum scrap as it stays flat at $1.60/lb; watch for seasonal demand spikes we predicted last week.
• Big Picture — With only 2 of 8 metals higher today, sell high-momentum PGMs and precious metals but hold flat base metals in this mixed market.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $110.34/bbl, up $1.51 (+1.39%) day-over-day.

**Macro Backdrop — Energy and Risk**

Brent crude oil rose to $110.34 per barrel, up $1.51 or 1.39% today. This fits a strong energy trend, with Brent up 10.67% last week on low U.S. stockpiles, OPEC shifts, and Strait of Hormuz issues[1]. World Bank sees energy prices jumping 24% this year from Middle East shocks[5]. Higher oil costs add risk for scrap metal haulers and fuel bills.

10-year yield eased to 4.40%, but inflation views ticked up to 2.48%[data]. Auto output fell to 102.63, down sharply, which may slow scrap from cars[data]. USD/CAD holds at 1.3576. Energy strength signals caution—watch for more cost pressures on metals[1][5].

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,587/oz, down $23.74 (-0.51%) day-over-day. Previous close: $4,611/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold spot price fell to $4,587 per ounce today, down $23.74 or 0.51%, with prices dropping in 4 of the last 5 sessions. This dip means scrap sellers and recyclers may get less for gold jewelry, coins, or filings right now, as buyers pay 60-90% of melt value after refining costs. Hold off selling if you can, since strong energy prices like Brent crude at $110.34 per barrel signal wider market ups and downs ahead.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $73.81/oz, down $1.53 (-2.03%) day-over-day. Previous close: $75.34/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 62.1:1.

Silver prices dropped 2% to $73.81/oz today, continuing a weak streak that started last week[1]. The real problem for scrap sellers isn't just the price decline—the global refining market has frozen due to extreme financing costs, with major dealers halting purchases of scrap and junk silver[2][3]. Until these market disruptions ease, sellers should expect delays, reduced buying rates, and limited options for moving material[2][3].

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,006/oz, up +$21.00 (+1.06%) day-over-day. Previous close: $1,985/oz. MoM: +1.3%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,513/oz, up +$3.00 (+0.20%) day-over-day. Previous close: $1,510/oz. MoM: +1.5%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $10,050/oz, flat day-over-day. Previous close: $10,050/oz. MoM: -0.5%.
• Rhodium 5-day trend: ↑ 1 of last 5 sessions.

Platinum rose to $2,006 per ounce, up 1.06%, while palladium gained 0.20% to $1,513 per ounce; both show an up direction today despite dropping in three of the last five sessions. Rhodium stayed flat at $10,050 per ounce, with just one up session in five days. Scrap sellers see a good short-term window as strong energy prices, like Brent crude at $110.34 per barrel up 1.39%, lift PGM values.

Copper — Current Indicators

• COMEX/Spot Copper: $5.94/lb, down $0.0205 (-0.34%) day-over-day. Previous close: $5.96/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Copper prices slipped 2 cents to $5.94/lb today as the four-day downtrend continued, though the metal still holds near recent highs supported by strong energy markets.[1] Scrap sellers face mixed signals: while prices remain solid, the recent volatility and downward momentum suggest waiting for a clearer trend before unloading large quantities.[1] Energy prices climbing with Brent crude at $110.34/bbl could provide underlying support, but watch the next few sessions to see if copper stabilizes or drops further.

Aluminum — Current Indicators

• LME Aluminum: $3,518/tonne ($1.60/lb), flat day-over-day. Previous close: $1.60/lb.
• 5-day trend: → flat over last 5 sessions.

Aluminum scrap holds steady at **$1.60 per pound**, with no change from yesterday and flat over the last five sessions. This stability comes despite **Brent crude oil** climbing to $110.34 per barrel on strong energy trends. Scrap sellers should watch for steady demand ahead, as seasonal upticks may lift prices soon.

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.