Smash Scrap Morning Metals Report – May 6, 2026

Prices as of May 06, 2026 at 12:32 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 — $4,691/oz ▲
• Silver — $76.58/oz ▲
• PGMs — Rh ▸ $9,950 · Pt ▲ $2,021 · Pd ▲ $1,524
• Copper — $6.18/lb ▲
• Aluminum — $1.61/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3617

Smash Scrap Takeaways for Today

• Gold & Silver — Sell gold and silver scrap now at +2.95% and +5.26% gains to lock in profits before possible short-term pullbacks.
• PGMs — Offer platinum and palladium scrap today with +3.59% and +3.39% rises, but hold rhodium as it stays flat.
• Copper — Ship copper scrap immediately after +3.20% jump to capture strong demand before volatility returns.
• Aluminum — Hold aluminum scrap with prices down -0.79%, wait for summer construction boost.
• Big Picture — 5 of 8 metals higher today, favor selling precious and base metal scrap into upward momentum.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $102.84/bbl, down $7.32 (-6.64%) day-over-day.

# Macro Backdrop — Energy and Risk

Oil prices dropped $7.32 to $102.84 per barrel, down 6.6% as Middle East tensions eased slightly and concerns about global demand grew stronger. This pullback is good news for scrap yards. Lower diesel and electricity costs mean less pressure on your transportation and processing margins. However, the recent spike to $114 per barrel shows that geopolitical risks remain real. One flare-up in the Strait of Hormuz could send energy costs back up quickly.

The U.S. Fed is holding interest rates steady at 3.64%, and inflation expectations remain moderate at 2.47%. Auto production dipped 3.98% in March, which signals softer demand for scrap feedstock from manufacturers. Canadian yards see the USD/CAD rate at 1.3617, holding near recent levels. The combination of lower oil costs and steady rates should support stable operating costs through late May, though watch for any new headlines about Middle East shipping disruptions.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,691/oz, up +$134.26 (+2.95%) day-over-day. Previous close: $4,556/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold hit $4,691 per ounce today, up $134 or 2.95% as buyers chase safe-haven demand. High prices are driving more scrap sellers to unload old jewelry and electronics, boosting recycling volumes for yards. With oil easing to $102.84 per barrel, lower energy costs help keep scrap processing profitable.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $76.58/oz, up +$3.83 (+5.26%) day-over-day. Previous close: $72.76/oz.
• 5-day trend: ↑ 4 of last 5 sessions.
• Gold/Silver ratio: 61.3:1.

Silver spot prices hit $76.58 per ounce today, up $3.83 or 5.3% from yesterday, with gains in 4 of the last 5 days. Strong demand from solar panels, electronics, and recycling is pushing prices higher amid supply shortages, making it a great time for scrap sellers to cash in. Lower oil at $102.84 per barrel eases costs for yards, boosting margins on silver scrap.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,021/oz, up +$70.00 (+3.59%) day-over-day. Previous close: $1,951/oz. MoM: +1.8%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,524/oz, up +$50.00 (+3.39%) day-over-day. Previous close: $1,474/oz. MoM: +4.0%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,950/oz, flat day-over-day. Previous close: $9,950/oz. MoM: -1.5%.
• Rhodium 5-day trend: → flat over last 5 sessions.

Platinum and palladium prices rose today, up 3.6% to $2,021 per ounce and 3.4% to $1,524 per ounce. Rhodium held steady at $9,950 per ounce, still above the $10,000 mark that signals good times to sell scrap converters. With oil pulling back to $102.84 per barrel as tensions ease, scrap sellers should get multiple quotes now before refinery delays hit.

Copper — Current Indicators

• COMEX/Spot Copper: $6.18/lb, up +$0.1915 (+3.20%) day-over-day. Previous close: $5.99/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper prices rose to $6.18 per pound today, up 19 cents or 3.2%. This marks gains in 3 of the last 5 sessions, showing strong buyer interest for scrap sellers. Even with oil dropping to $102.84 per barrel on easing tensions, copper's climb offers a good chance to sell now before any pullback.

Aluminum — Current Indicators

• LME Aluminum: $3,547/tonne ($1.61/lb), down $0.0128 (-0.79%) day-over-day. Previous close: $1.62/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum prices fell to $1.61 per pound today, down about 1 cent or 0.8%. Lower oil at $102.84 per barrel helps scrap yards cut costs as Middle East tensions ease. Prices rose in 3 of the last 5 days, so sellers may see support from summer construction demand 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): $325.00/mt (down $41.00 (-11.20%) day-over-day).

⚠️ Note: Silver (5.3%) show unusually large day-over-day moves. Illiquid markets (e.g. rhodium) can have wide bid-ask spreads; verify with multiple sources before acting.

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.