Smash Scrap Morning Metals Report – September 4, 2026

[DATA ALERT: Silver: settled +1.73% away from the 2026-09-03 morning print ($65.85 -> $66.98) — this move was never published in an article (unpublished settle step); Platinum: settled +3.00% away from the 2026-09-03 morning print ($1,765.00 -> $1,818.00) — this move was never published in an article (unpublished settle step); Palladium: settled +3.93% away from the 2026-09-03 morning print ($1,349.00 -> $1,402.00) — this move was never published in an article (unpublished settle step); Copper: settled +0.76% away from the 2026-09-03 morning print ($6.62 -> $6.67) — this move was never published in an article (unpublished settle step) — verify before publishing]

Prices as of September 04, 2026 at 07:31 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 — $4,467/oz ▼
• Silver — $66.93/oz ▼
• PGMs — Rh ▸ $9,400 · Pt ▼ $1,807 · Pd ▼ $1,391
• Copper — $6.66/lb ▼
• Aluminum — $1.49/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3789

Smash Scrap Takeaways for Today

• Gold & Silver — Treat today as sideways money. Move clean cats and jewelry, skip holding out for a big jump.
• PGMs — Platinum and palladium are both slipping. Tighten your buy numbers on converter loads and focus on high-yield cores.
• Copper — With prices a touch lower, ship well-graded bright and #1 now, but keep sorting and holding borderline #2 and shred.
• Aluminum — My call for more weakness is playing out. Push out clean segregated alu loads, and slow down on mixed, dirty material.
• Big Picture — 6 metals down, 2 flat — this is a soft tape, so grade harder, document your inventory, and make every load count.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $94.82/bbl, down $1.06 (-1.11%) day-over-day.

US Dollar Index (DXY): 99.05, down 0.38 (-0.38%) day-over-day.

**Energy cooled a touch, but the board is still hot.** Brent slipped to **$94.82** a barrel, down **1.11%** on the day. That keeps diesel and freight pressure in the mix for yards and mills.

The bigger picture still points to tight risk. The **10Y yield is 4.79%**, real rates sit near **2.44%**, and the **dollar is softer today**, with **DXY at 99.05** and **USD/CAD at 1.3789**. Auto production is still soft, which is not a great sign for ferrous demand, while gold stays supported by heavy central bank buying and broader caution in the market.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,467/oz, down $5.00 (-0.11%) day-over-day. Previous close: $4,472/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

**Gold is soft today, but still strong cash for your yard.** Gold is at **$4,467/oz**, down about **$5** on the day, with 3 of the last 5 sessions closing lower. With the dollar easing a bit and energy cooling off, this feels more like a breather than a crash, so you can keep moving your gold cats, boards, and jewelry as steady cash flow instead of trying to time a big breakout.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $66.93/oz, down $0.0565 (-0.08%) day-over-day. Previous close: $66.98/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 66.7:1.

Silver is **basically flat** today at **$66.93/oz**, down about six cents, even with energy cooling off. Price has inched up in **3 of the last 5 sessions**, and the gold/silver ratio near **66:1** says silver is still the cheaper metal in the pair. If you’re moving silver-bearing scrap, treat this as a steady market, not a fire sale.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,807/oz, down $11.00 (-0.61%) day-over-day. Previous close: $1,818/oz. MoM: +7.8%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,391/oz, down $11.00 (-0.78%) day-over-day. Previous close: $1,402/oz. MoM: +7.3%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $9,400/oz, flat day-over-day. Previous close: $9,400/oz. MoM: +12.8%.
• Rhodium 5-day trend: ↑ 4 of last 5 sessions.

PGMs are soft today, so cat and core sellers should expect lighter bids on platinum and palladium. Rhodium is the bright spot, holding flat at a high level after a strong week, so clean, well-documented rhodium loads still deserve tight sorting and good photos before you ship.

Copper — Current Indicators

• COMEX/Spot Copper: $6.66/lb, down $0.0135 (-0.20%) day-over-day. Previous close: $6.67/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper slipped a hair to **$6.66/lb**, down about a cent on the day, but it’s still holding firm. You’ve had green days in 3 of the last 5 sessions, and with energy cooling a touch and Brent around **$94.82**, the board is hot enough that clean copper should still move well if you’re ready to ship.

Aluminum — Current Indicators

• LME Aluminum: $3,288/tonne ($1.49/lb), down $0.0141 (-0.94%) day-over-day. Previous close: $1.51/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Aluminum slipped again, but the board is still hot and buyers still need metal.** Aluminum is at **$1.49/lb**, down about a cent today, but it’s been up in 3 of the last 5 sessions. With energy cooling a bit and Brent sitting near **$94.82** a barrel, you’re still in a firm market, so move clean, sorted aluminum now and be pickier with the dirty, borderline loads.

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.