Smash Scrap Morning Metals Report – March 18, 2026

Prices as of March 18, 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 — $4,901/oz ▼
• Silver — $78.13/oz ▼
• PGMs — Rh ▸ $11,400 · Pt ▼ $2,072 · Pd ▼ $1,549
• Copper — $5.70/lb ▼
• Aluminum — $1.53/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3699

Smash Scrap Takeaways for Today

• Gold & Silver — Hold off on selling today with gold down $99.62 to $4,901/oz and silver off $1.01 to $78.13/oz. Both metals are testing support levels after recent declines, and oversold conditions often create short-term floors for precious metals in Detroit and Chicago markets.
• PGMs — Consider listing platinum and palladium inventory on Smash Scrap as both metals dropped sharply (platinum down $50 to $2,072/oz, palladium down $32 to $1,549/oz). Rhodium held flat at $11,400/oz, so platinum group metal buyers are being selective.
• Copper — Sell copper scrap today if possible, as prices fell 7 cents to $5.70/lb and industrial demand concerns are weighing on Houston and Atlanta yards. This decline partially reversed yesterday's modest gains.
• Aluminum — Hold aluminum inventory as it's the only bright spot today, up less than a cent to $1.53/lb. Philadelphia and Pittsburgh scrap dealers report steady demand, making aluminum your best bet for patient sellers.
• Big Picture — Only 1 of 8 metals traded higher today, with broad-based selling pressure hitting most scrap categories across American markets.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $105.60/bbl, up $2.80 (+2.72%) day-over-day.

Oil jumped another $2.80 today as Middle East tensions escalate, building on yesterday's gains and pushing energy costs to multi-month highs. The surge reflects growing concerns about potential supply disruptions, which typically boost industrial metals demand as manufacturers rush to secure materials ahead of possible shortages. However, rising energy costs also squeeze profit margins for scrap processors and transportation networks across key American markets from Detroit's auto recycling hubs to Houston's industrial corridor.

Higher oil prices create a mixed picture for scrap values. Energy-intensive metals like aluminum and copper often see stronger demand as primary production becomes more expensive, making recycled materials more attractive. But transportation costs from Chicago yards to East Coast mills also rise, potentially offsetting some gains. With the dollar index weakening and inflation expectations ticking up slightly, scrap dealers in Pittsburgh and Cleveland may see increased interest from mills looking to hedge against further commodity price increases if geopolitical risks continue building.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,901/oz, down $99.62 (-1.99%) day-over-day. Previous close: $5,001/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold pulled back as rising oil costs from Middle East tensions created mixed pressures across commodity markets, with the precious metal giving back some of its recent gains despite typically benefiting from geopolitical uncertainty. For scrap sellers from Detroit to Houston, this dip continues gold's recent weakness over four of the last five trading sessions, though prices remain at historically elevated levels that still offer strong returns for jewelry recyclers and e-waste processors extracting gold from electronics. The pullback suggests some profit-taking as traders weigh gold's safe-haven appeal against concerns that surging energy costs could pressure industrial demand and economic growth.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $78.13/oz, down $1.01 (-1.28%) day-over-day. Previous close: $79.14/oz.
• 5-day trend: ↓ 4 of last 5 sessions.
• Gold/Silver ratio: 62.7:1.

Silver dropped as Middle East tensions continued to escalate oil prices, but the precious metal couldn't capitalize on the geopolitical uncertainty that typically drives safe-haven demand. At a gold-to-silver ratio of 62.7 to 1, silver remains relatively undervalued compared to gold, potentially offering better entry points for scrap sellers looking to time their sales. The ongoing weakness—down in four of the last five sessions—suggests industrial demand concerns are outweighing silver's precious metal appeal, which could impact pricing for electronics recyclers in Detroit and Chicago processing circuit boards, as well as solar panel scrap from industrial facilities.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,072/oz, down $50.00 (-2.36%) day-over-day. Previous close: $2,122/oz.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,549/oz, down $32.00 (-2.02%) day-over-day. Previous close: $1,581/oz.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $11,400/oz, flat day-over-day. Previous close: $11,400/oz.
• Rhodium 5-day trend: ↓ 1 of last 5 sessions.

PGM scrap sellers in Detroit, Chicago, and Houston faced weaker pricing today as platinum fell $50 while palladium dropped $32, continuing the downward pressure seen across most sessions this week despite rising oil prices reaching $105.60. Rhodium held steady at $11,400, providing the only stability in the PGM complex as Middle East supply concerns that typically boost industrial metals demand failed to lift the auto catalyst metals. Sellers should monitor whether tomorrow brings any relief from the multi-day slide, as scrap yards from Atlanta to Los Angeles report cautious buying amid the recent weakness.

Copper — Current Indicators

• COMEX/Spot Copper: $5.70/lb, down $0.0695 (-1.21%) day-over-day. Previous close: $5.76/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Copper dropped about 7 cents today despite surging oil prices, as the red metal continues its weak streak with four declining sessions in the past five days. While higher energy costs from Middle East tensions typically boost industrial metals demand as manufacturers rush to secure materials, copper sellers in Detroit, Chicago, and Houston are seeing softer pricing across #1 and #2 grades, bare bright, and wire categories. Scrap yards should watch whether copper can find support at current levels or if the recent downtrend continues despite the broader commodity rally.

Aluminum — Current Indicators

• LME Aluminum: $3,376/tonne ($1.53/lb), up +$0.0029 (+0.19%) day-over-day. Previous close: $1.53/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum prices edged slightly higher as rising oil costs from Middle East tensions boost demand expectations, with manufacturers potentially securing materials ahead of possible supply disruptions. The modest gain comes despite recent weakness, as aluminum has declined in three of the past five trading sessions, suggesting cautious sentiment among buyers in major scrap hubs from Detroit to Houston. Sellers of cast aluminum from auto recycling and sheet/extrusion material from industrial sources may find steadier interest if energy-driven supply concerns persist, though the small daily movement indicates markets are still weighing geopolitical risks against underlying demand fundamentals.

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.