Smash Scrap Morning Metals Report – May 5, 2026

Prices as of May 05, 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 — $4,569/oz ▲
• Silver — $73.81/oz ▲
• PGMs — Rh ▸ $10,050 · Pt ▲ $1,993 · Pd ▲ $1,506
• Copper — $5.99/lb ▲
• Aluminum — $1.60/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3611

Smash Scrap Takeaways for Today

• Gold & Silver — Both up over 1% today. Lock in gains on hallmarked scrap if you have decent volume. Recent volatility means pullbacks can happen fast, so don't wait for perfection.[1][2]
• PGMs — Platinum and palladium both rallied hard (+2.6% and +3.0%). Catalytic converter demand is holding steady. This is a good window to move inventory before the next dip.[3]
• Copper — Up 2.18% to $5.99/lb. Markets are whippy—copper swung $0.50/lb in a single morning last week. Take profits on clean bare bright wire today rather than holding for $7.00.[3]
• Aluminum — Barely moved (+0.51%), but seasonal demand is coming. Build stock now while prices are stable. Summer construction season will drive competition for material.[4]
• Big Picture — Six of eight metals are higher today with steady upward momentum across precious metals and base metals, making this a solid selling window before volatility returns.[1]

Macro Backdrop — Energy and Risk

Brent Crude Oil: $112.14/bbl, down $1.66 (-1.46%) day-over-day.

**Macro Backdrop — Energy and Risk**

Brent crude oil fell to $112.14 per barrel, down $1.66 or 1.46% today. This dip comes after gains yesterday, with US-Iran talks on Hormuz transit adding uncertainty. Energy prices are set to rise 24% this year from Middle East tensions, but a crude surplus may ease them later in 2026.[1][3]

The US dollar index eased to 90.82, while 10-year yields slipped to 4.39% and inflation views ticked up to 2.50%. USD/CAD holds at 1.3611. Gold and silver face pullback risks amid firmer yields, keeping risk high for scrap metals tied to energy costs.[1]

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,569/oz, up +$48.11 (+1.06%) day-over-day. Previous close: $4,521/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold hit $4,569 per ounce today, up $48 or 1.06% from yesterday. This gain bucks a 5-day trend down in 3 of the last 5 sessions, as scrap sellers see strong demand amid booming recycling. With Brent crude dipping to $112.14 per barrel on US-Iran talks easing Hormuz worries, now's a good time for recyclers to cash in on the uptick.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $73.81/oz, up +$1.08 (+1.48%) day-over-day. Previous close: $72.74/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 61.9:1.

Silver gained 1.48% today, closing at $73.81 per ounce as the metal extends its three-session winning streak.[1] The uptick reflects cautious optimism amid easing Middle East tensions, though scrap sellers should note that the global silver market faces underlying liquidity pressures from high lease rates and competing demand from industrial buyers and international stockpiling.[5] At a gold-to-silver ratio of 61.9:1, silver remains relatively undervalued compared to its historical range, suggesting steady foundational support for sellers in the near term.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,993/oz, up +$50.00 (+2.57%) day-over-day. Previous close: $1,943/oz. MoM: +0.7%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,506/oz, up +$44.00 (+3.01%) day-over-day. Previous close: $1,462/oz. MoM: +1.1%.
• 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 $1,993 per ounce, up $50 or 2.57%, while palladium climbed to $1,506 per ounce, up $44 or 3.01%. Rhodium held flat at $10,050 per ounce amid a weak 5-day trend. Scrap sellers see good timing to cash in on these gains, even as oil dips to $112.14 per barrel on Hormuz talks uncertainty.

Copper — Current Indicators

• COMEX/Spot Copper: $5.99/lb, up +$0.1280 (+2.18%) day-over-day. Previous close: $5.86/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

**Copper** prices rose to **$5.99 per pound** today, up 13 cents or 2.18% from yesterday. This gain came even as oil dipped to **$112.14 per barrel** amid US-Iran talks on Hormuz transit that add some uncertainty. Scrap sellers, watch for more ups and downs—copper fell in 3 of the last 5 sessions despite the rebound.

Aluminum — Current Indicators

• LME Aluminum: $3,536/tonne ($1.60/lb), up +$0.0081 (+0.51%) day-over-day. Previous close: $1.60/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum scrap prices hit $1.60 per pound today, up less than a cent or 0.51% from yesterday. This small gain came on 3 up days in the last 5 sessions, even as **Brent crude oil** fell to $112.14 per barrel amid US-Iran talks on Hormuz transit. Scrap sellers should watch for seasonal demand spikes ahead.

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.