Smash Scrap Morning Metals Report – September 9, 2026

[DATA ALERT: Palladium: feed suspect — screen $1,315.00 diverges 2.7% from independent spot $1,352.00 (threshold 2.5%); Gold: settled -1.05% away from the 2026-09-08 morning print ($4,396.50 -> $4,350.50) — this move was never published in an article (unpublished settle step); Palladium: settled -1.41% away from the 2026-09-08 morning print ($1,347.00 -> $1,328.00) — this move was never published in an article (unpublished settle step); Zinc: settled -1.11% away from the 2026-09-08 morning print ($1.89 -> $1.86) — this move was never published in an article (unpublished settle step) — verify before publishing]

Prices as of September 09, 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 — $4,394/oz ▲
• Silver — $66.08/oz ▲
• PGMs — Rh ▲ $9,575 · Pt ▲ $1,841 · Pd ▼ $1,315
• Copper — $6.76/lb ▼
• Aluminum — $1.51/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3784

Smash Scrap Takeaways for Today

• Gold & Silver — Use today’s strength to push gold and silver-bearing scrap, but stay disciplined on grading and photo documentation.
• PGMs — Platinum and rhodium are paying up; tighten counts and VIN/serial tracking on cats and cores, and be tougher on palladium-heavy loads.
• Copper — After yesterday’s slip, don’t chase every bid; move clean prepared copper where numbers still pencil, sit on marginal material.
• Aluminum — Price is basically flat; focus on cleaning up non-ferrous BOLs and packing lists so you can move fast when bids tick higher.
• Big Picture — Mixed board today: 4 metals up, 2 down, 2 flat — use competition between buyers to reveal the real market on each load.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $100.83/bbl, up $1.48 (+1.49%) day-over-day.

US Dollar Index (DXY): 98.61, down 0.39 (-0.39%) day-over-day.

**Oil over $100 isn’t noise. It’s the risk backdrop for every bid you see this week.**

Brent is back above **$100/bbl and still climbing**, keeping energy costs hot and feeding the “higher for longer” rate story. The 10-year and 2-year are both edging up, inflation expectations are ticking higher, and the dollar index slipped a bit, but not enough to call risk-on yet. Oil strength plus steady Fed rates means funds stay jumpy; every macro headline can swing copper, gold, and FX intraday.

For you, that means more whipsaw on export bids and more sensitivity to freight, shred, and heavy melt costs. Strong oil tends to floor risk, but it also keeps pressure on margins and raises the bar for buyers stepping up on weaker grades. Stay tight on BOLs, packing lists, and photos; in this kind of tape, documented inventory and clean data are how you keep buyers competing instead of fading.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,394/oz, up +$43.30 (+1.00%) day-over-day. Previous close: $4,350/oz.
• 5-day trend: ↑ 3 of last 5 sessions.

Gold is up 1% at **$4,394/oz**, with 3 green sessions out of the last 5. For you, that means steady, firm bids on gold-bearing scrap, not a wild breakout. With the US dollar soft and oil holding over $100, buyers still want clean, well-documented material, but you don’t need to chase this move.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $66.08/oz, up +$0.4585 (+0.70%) day-over-day. Previous close: $65.62/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 66.5:1.

Silver is up today at **$66.08/oz**, about 46 cents higher, and it’s drifting higher just like we expected. For you, this is still a steady, two-way market — bids are firm, not crazy, with 3 of the last 5 sessions up and oil over $100 keeping risk appetite alive. If you’re sitting on silver-bearing scrap, this is a decent spot to move clean, documented loads instead of waiting for a big breakout that hasn’t shown up yet.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,841/oz, up +$31.00 (+1.71%) day-over-day. Previous close: $1,810/oz. MoM: +6.2%.
• Platinum 5-day trend: ↑ 3 of last 5 sessions.
• Palladium (Pd): $1,315/oz, down $13.00 (-0.98%) day-over-day. Previous close: $1,328/oz. MoM: -2.7%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $9,575/oz, up +$100.00 (+1.06%) day-over-day. Previous close: $9,475/oz. MoM: +11.9%.
• Rhodium 5-day trend: ↑ 4 of last 5 sessions.

Platinum and rhodium are firm today, while palladium keeps bleeding lower. With oil holding over $100, you should expect steady interest in cat and core loads, but buyers will stay picky on palladium-heavy material, so sort and price your PGMs with care.

Copper — Current Indicators

• COMEX/Spot Copper: $6.76/lb, down $0.0105 (-0.15%) day-over-day. Previous close: $6.78/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Copper is off a penny to $6.76/lb, but the tape is still firm.** It has closed higher in 3 of the last 5 sessions, so scrap buyers are not backing off. Brent above $100 keeps the macro floor in place, even with today’s small dip.

Aluminum — Current Indicators

• LME Aluminum: $3,336/tonne ($1.51/lb), down $0.0004 (-0.03%) day-over-day. Previous close: $1.51/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

**Aluminum is steady at $1.51/lb, but it’s still moving around underneath.** It’s down less than a cent today, yet it has closed higher in 3 of the last 5 sessions. With oil over $100 and the dollar softer, buyers still have a reason to stay active on clean non-ferrous 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.