Smash Scrap Morning Metals Report – May 7, 2026

Prices as of May 07, 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 — $4,738/oz ▲
• Silver — $81.53/oz ▲
• PGMs — Rh ▸ $9,950 · Pt ▲ $2,087 · Pd ▲ $1,524
• Copper — $6.22/lb ▲
• Aluminum — $1.59/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3625

Smash Scrap Takeaways for Today

• Gold & Silver — Sell now. Gold up 0.90% and silver surging 5.26% show strong momentum. Lock in gains before any pullback. Both metals have climbed for four of the last five days.
• PGMs — Sell platinum and palladium catalytic converter scrap today. Platinum jumped 1.16% and palladium edged up despite flat predictions. Rhodium flat at $9,950—hold for better entry.
• Copper — List copper scrap immediately. Up 0.44% today and climbing on steady industrial demand. This metal is outperforming broader market weakness seen in aluminum.
• Aluminum — Hold scrap and wait for rebound. Down 0.71% today, continuing a recent slide. Do not sell into weakness. Summer construction demand should support a bounce soon.
• Big Picture — Five of eight metals higher today. Market breadth is strong across precious metals and copper. Sell premium materials now while momentum holds.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $97.23/bbl, down $4.78 (-4.69%) day-over-day.

**Macro Backdrop — Energy and Risk**

Brent crude oil fell $4.78 to $97.23 per barrel, down 4.69% today. Hopes for a US-Iran deal eased fears of supply cuts, even as the Strait of Hormuz blockage lingers. This drop cuts diesel and trucking costs for scrap yards from Detroit to Houston. It helps margins on heavy loads like steel and autos.

Lower oil lifts gold above $4,700 as the dollar weakens. The 10-year yield eased to 4.43%, and inflation views dropped to 2.42%. Fed rate holds at 3.64%. US steel output rose 9.6% year-over-year. Auto production dipped, but cheaper fuel may boost scrap flows soon. Watch for steady energy costs to aid processors.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,738/oz, up +$42.25 (+0.90%) day-over-day. Previous close: $4,696/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold hit $4,738 per ounce today, up 0.9% or $42 from yesterday. Scrap sellers and recyclers should sell now to lock in gains from the rally, as high prices and strong recycling demand keep values elevated despite easing oil tensions from US-Iran deal hopes. This uptrend held in 3 of the last 5 sessions.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $81.53/oz, up +$4.07 (+5.26%) day-over-day. Previous close: $77.45/oz.
• 5-day trend: ↑ 4 of last 5 sessions.
• Gold/Silver ratio: 58.1:1.

**Silver Market Update for Scrap Sellers** Silver prices jumped 5.3% today to $81.53 per ounce, marking four winning days out of the last five as industrial demand stays strong from solar panels and electronics. Recyclers and scrap sellers should take note: the market research shows recycled silver now makes up over 17% of global supply and is growing, which means consistent demand for your scrap material as mining slows down. With prices climbing and refiners actively seeking material, this remains a solid time to move quality silver scrap, though stay alert to any shifts in industrial orders.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,087/oz, up +$24.00 (+1.16%) day-over-day. Previous close: $2,063/oz. MoM: +5.9%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,524/oz, up +$2.00 (+0.13%) day-over-day. Previous close: $1,522/oz. MoM: +4.3%.
• 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 rose to $2,087/oz and palladium edged up to $1,524/oz today, while rhodium stayed flat at $9,950/oz. Higher prices are boosting autocatalyst scrap recycling, with forecasts showing platinum supply up 6% this year and growing through 2029 amid market shortages. Scrap sellers should sell now to lock in gains before any oil price shifts from easing US-Iran talks change demand.

Copper — Current Indicators

• COMEX/Spot Copper: $6.22/lb, up +$0.0270 (+0.44%) day-over-day. Previous close: $6.19/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper scrap prices hit $6.22 per pound today, up 3 cents or 0.44% from yesterday. The metal climbed in 3 of the last 5 sessions, fueled by tight supply from tariffs and strong U.S. demand for manufacturing and infrastructure. Scrap sellers should cash in now before volatility hits, even as easing oil tensions from US-Iran deal hopes cool broader markets.

Aluminum — Current Indicators

• LME Aluminum: $3,501/tonne ($1.59/lb), down $0.0113 (-0.71%) day-over-day. Previous close: $1.60/lb.
• 5-day trend: → flat over last 5 sessions.

Aluminum scrap prices dipped to $1.59 per pound today, down about 1 cent or 0.7% from yesterday. The market stayed flat over the last 5 days amid hopes for a US-Iran deal that eased oil fears and cut Brent crude to $97.23 per barrel. Hold your aluminum scrap and wait for a rebound, as some grades like turnings and sheet have climbed over the past 6 months.

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).

⚠️ 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.