Smash Scrap Morning Metals Report – September 2, 2026

[DATA ALERT: Silver: feed suspect — screen $64.51 diverges 98.5% from independent spot $4,311.00 (threshold 2.5%); Platinum: feed suspect — screen $1,736.00 diverges 59.7% from independent spot $4,311.00 (threshold 2.5%); Palladium: feed suspect — screen $1,308.00 diverges 69.7% from independent spot $4,311.00 (threshold 2.5%); Copper: feed suspect — screen $6.60 diverges 99.8% from independent spot $4,311.00 (threshold 2.5%) — verify before publishing]

Prices as of September 02, 2026 at 07:30 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.

Jump to:

• Gold — $4,340/oz ▲
• Silver — $64.51/oz ▲
• PGMs — Rh ▲ $9,200 · Pt ▲ $1,736 · Pd ▲ $1,308
• Copper — $6.60/lb ▲
• Aluminum — $1.48/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3896

Smash Scrap Takeaways for Today

• Gold & Silver — Move clean, documented gold and silver scrap, but break out mixed loads; buyers still punish poor grading.
• PGMs — With all PGMs up, push cats and cores into competitive auctions and use photos and serial tracking to prove recovery.
• Copper — Price pop backs yesterday’s call: move clean, well-packed non-ferrous loads now and let buyers fight it out.
• Aluminum — My “hold dirty alu” call still stands; keep marginal and mixed alu back, but don’t sit on clean extrusion if a good bid shows.
• Big Picture — Six of eight metals are higher and steel is flat, so use auctions to test buyer appetite instead of guessing on one phone call.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $94.11/bbl, down $1.18 (-1.24%) day-over-day.

US Dollar Index (DXY): 99.76, up 0.33 (+0.33%) day-over-day.

**Energy is still hot, but the tape is getting jumpy.** Brent is at $94.11, even after a 1.24% pullback. The bigger story is risk: the 10Y yield is 4.75%, real rates are still positive, and the dollar is firm. That keeps buyers picky and slows the chase on big tonnage.

**For scrap, that means tighter bids on heavy, slow-moving metal.** Oil still supports yard economics, but higher rates and a stronger USD can cap upside. Clean loads with good photos, BOLs, and sorted inventory still get the best look. Dirty material and long-dated tons may need more patience.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,340/oz, up +$12.70 (+0.29%) day-over-day. Previous close: $4,327/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold is back up today, around **$4,340/oz**, but the short-term trend is still soft. The dollar is firm and energy is still pricey, so buyers stay picky on gold scrap. If you list cats, boards, or jewelry, expect tight bids unless your grading, photos, and paperwork are clean.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $64.51/oz, up +$0.4525 (+0.71%) day-over-day. Previous close: $64.06/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 67.3:1.

**Silver is up to $64.51 an ounce, but the tape is still jumpy.** The gold/silver ratio sits at 67.3:1, and silver has only been higher in 3 of the last 5 sessions, so this is not a clean breakout. For scrap sellers, that means watch the sheet, keep loads clean, and use auctions when you want the market to show its hand.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,736/oz, up +$1.00 (+0.06%) day-over-day. Previous close: $1,735/oz. MoM: +6.7%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,308/oz, up +$23.00 (+1.79%) day-over-day. Previous close: $1,285/oz. MoM: +3.9%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,200/oz, up +$50.00 (+0.55%) day-over-day. Previous close: $9,150/oz. MoM: +11.5%.
• Rhodium 5-day trend: ↑ 5 of last 5 sessions.

Platinum is barely up, palladium and rhodium are firmer, but the tape is still jumpy. Brent at **$94.11** keeps energy costs hot, yet the stronger dollar can cap chasing, so scrap sellers should expect buyers to stay picky on clean, well-documented PGM loads.

Copper — Current Indicators

• COMEX/Spot Copper: $6.60/lb, up +$0.0690 (+1.06%) day-over-day. Previous close: $6.54/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Copper is still wearing the crown in non‑ferrous this week.** Copper’s back up to about **$6.60/lb**, up around 7 cents on the day, and it’s closed higher in 3 of the last 5 sessions. With the dollar firm and energy still pricey but choppy, clean, documented copper loads should still draw real bids if you push them into competitive auctions instead of waiting on one buyer’s number.

Aluminum — Current Indicators

• LME Aluminum: $3,259/tonne ($1.48/lb), down $0.0088 (-0.59%) day-over-day. Previous close: $1.49/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum slipped to **$1.48/lb**, down just under a cent, even as energy stays hot and Brent sits at **$94.11**. Three up days in the last five say the market still has a pulse, but buyers are jumpy, so expect tighter bids on dirty and mixed aluminum while cleaner non‑ferrous gets more attention.

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.