Smash Scrap Morning Metals Report – March 16, 2026

Prices as of March 16, 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 — $5,021/oz ▼
• Silver — $79.70/oz ▼
• PGMs — Rh ▸ $11,500 · Pt ▲ $2,077 · Pd ▲ $1,542
• Copper — $5.79/lb ▲
• Aluminum — $1.54/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3716

Smash Scrap Takeaways for Today

• Gold & Silver — Gold flat at $5,021 (down 15 cents) while silver dropped 90 cents to $79.70. Our models called silver down correctly. With precious metals showing weakness, hold off on new sales today and wait for better pricing tomorrow.
• PGMs — Platinum surged $50 to $2,077 (+2.47%) while palladium gained $6 to $1,542. Rhodium held steady at $11,500. Strong platinum gains make today ideal for selling catalytic converters and industrial platinum scrap in Detroit and Cleveland yards.
• Copper — Copper jumped 12 cents higher to $5.79 (+2.04%), a solid rebound after recent weakness. This is prime selling weather for copper wire, pipe, and auto radiators across Chicago and Houston scrap markets.
• Aluminum — Aluminum dipped less than a penny to $1.54 (-0.50%), minimal movement. With prices basically flat, aluminum sellers can move inventory without timing concerns in Philadelphia and Atlanta markets.
• Big Picture — Mixed market with 3 of 8 metals higher today, showing no clear directional trend as industrial metals like copper rally while precious metals soften.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $98.70/bbl, down $5.16 (-4.97%) day-over-day.

Oil's sharp $5.16 drop reflects growing concerns about global demand as economic data from major manufacturing regions shows weakness. The selloff comes as B.C. doctors call for independent health assessments of oil and gas operations, adding regulatory pressure to energy markets. This pullback in crude is welcome news for scrap yards across Detroit, Chicago, and Houston, where transportation costs eat into margins on heavy material shipments.

The broader macro picture shows mixed signals with the 10-year yield climbing while inflation expectations ease slightly. This creates uncertainty for industrial metals demand, which could weigh on higher-grade scrap pricing. With the dollar index weakening, American scrap becomes more attractive to overseas buyers, but energy-intensive processing costs should decline with cheaper oil. Yards in Pittsburgh and Cleveland handling auto shred should see improved economics, while West Coast operations in Los Angeles benefit from lower diesel costs for collection routes.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $5,021/oz, down $0.1500 (-0.00%) day-over-day. Previous close: $5,021/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold held virtually steady as the weak global manufacturing data that sent oil tumbling also weighed on precious metals demand, with the modest decline reflecting concerns about economic growth rather than safe-haven buying. For scrap gold sellers from Detroit auto recyclers to Houston e-waste processors, the current price levels near $5,020 per ounce continue to offer strong returns on jewelry, dental gold, and electronic components. The sideways action suggests gold is consolidating recent gains while markets assess whether slowing industrial demand will prompt more central bank stimulus that could eventually support precious metals.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $79.70/oz, down $0.9045 (-1.12%) day-over-day. Previous close: $80.61/oz.
• 5-day trend: ↓ 4 of last 5 sessions.
• Gold/Silver ratio: 63.0:1.

Silver dropped about 90 cents amid broader commodity weakness as economic concerns weigh on industrial demand, particularly affecting scrap sellers in Detroit and Chicago who handle electronics recycling where silver is heavily used in circuit boards and solar panels. The gold-to-silver ratio at 63:1 suggests silver remains relatively expensive compared to gold, though the recent selling pressure reflects silver's dual nature as both a precious metal safe haven and industrial commodity vulnerable to manufacturing slowdowns. With silver losing ground in four of the last five sessions, scrap yards from Houston to Atlanta should monitor whether this industrial demand weakness continues or if bargain hunters step in at these lower levels.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,077/oz, up +$50.00 (+2.47%) day-over-day. Previous close: $2,027/oz.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,542/oz, up +$6.00 (+0.39%) day-over-day. Previous close: $1,536/oz.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $11,500/oz, flat day-over-day. Previous close: $11,500/oz.
• Rhodium 5-day trend: ↓ 1 of last 5 sessions.

Platinum and palladium both posted modest gains today, continuing their recovery from recent weakness, though both metals remain under pressure with declining trends over the past week. The moves come as oil markets face significant demand concerns, reflecting broader economic uncertainty that typically weighs on industrial metals demand. For scrap sellers in Detroit and other auto-heavy markets, platinum's resilience above $2,000 per ounce maintains decent returns on catalytic converter material, while rhodium's stability at elevated levels keeps high-value cats attractive despite the choppy conditions across PGM markets.

Copper — Current Indicators

• COMEX/Spot Copper: $5.79/lb, up +$0.1160 (+2.04%) day-over-day. Previous close: $5.67/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper jumped about 12 cents higher today despite broader concerns about manufacturing weakness that sent oil tumbling, giving scrap sellers across Detroit, Chicago, and Houston their best pricing in several sessions. The move comes after copper had been declining in three of the last five trading sessions, suggesting buyers are stepping in at these levels even as economic data shows softness. Sellers of #1 and #2 copper, bare bright wire, and insulated copper should capitalize on this bounce, though keep an eye on whether manufacturing demand concerns resurface if oil's sharp decline signals deeper economic troubles ahead.

Aluminum — Current Indicators

• LME Aluminum: $3,403/tonne ($1.54/lb), down $0.0078 (-0.50%) day-over-day. Previous close: $1.55/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum dipped less than a cent despite showing strength in 3 of the last 5 trading sessions, as the broader commodity selloff from oil's sharp decline weighed on industrial metals. The slight weakness affects all aluminum grades, with cast, sheet, and extrusion sellers across Detroit, Chicago, and Houston scrap yards seeing steady but not rising prices. With oil concerns reflecting global manufacturing worries, aluminum's resilience suggests underlying demand from auto recyclers and industrial sellers remains intact, though sellers should watch for any acceleration in the manufacturing slowdown that could pressure prices further.

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.