SMASH Recycling Morning Metals Report – March 24, 2026

Prices as of March 24, 2026 at 12:30 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 — $4,402/oz ▸
• Silver — $69.39/oz ▼
• PGMs — Rh ▼ $10,600 · Pt ▲ $1,912 · Pd ▼ $1,396
• Copper — $5.41/lb ▼
• Aluminum — $1.46/lb ▼
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3717

SMASH Recycling Takeaways for Today

• Gold & Silver — Gold holds steady at $4,402/oz while silver dips 6 cents to $69.39/oz. With gold flat after yesterday's $277 drop, consider this a pause rather than a bottom. Hold off on major gold sales until direction clarifies, but silver's minor decline suggests you can still get decent prices at Toronto and Vancouver yards.
• PGMs — Platinum surges $36 to $1,912/oz (+1.92%) while palladium drops $16 to $1,396/oz and rhodium falls $300 to $10,600/oz. Our models called platinum higher — confirmed. Sell platinum catalytic converters immediately across Montreal and Calgary markets. Hold palladium and rhodium until this volatility settles.
• Copper — Copper falls 8 cents to $5.41/lb (-1.51%), giving back some of yesterday's gains. This partially reverses yesterday's bounce but prices remain solid for Hamilton and Winnipeg scrap dealers. List copper wire and tubing on SMASH Recycling while prices stay above $5.30/lb.
• Aluminum — Aluminum edges down less than a cent to $1.46/lb, showing remarkable stability. With such minor movement, Edmonton and Ottawa recyclers can sell confidently. Clean aluminum siding and automotive parts are moving well at current levels.
• Big Picture — Only 1 of 8 metals higher today with platinum leading while most others decline, suggesting mixed market conditions favor selective selling over broad liquidation.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $102.73/bbl, up $2.27 (+2.26%) day-over-day.

Oil jumped $2.27 higher as geopolitical tensions flared, with Trump backing away from Iran energy strikes creating volatility in crude markets. The 10-year Treasury yield climbed to 4.39%, while inflation expectations pulled back slightly to 2.33%, suggesting mixed signals on Fed policy ahead. Higher energy costs typically boost scrap values by increasing transportation and processing expenses that get passed through to buyers.

The macro backdrop shows industrial metals gaining strength yesterday while precious metals faced continued selling pressure. This pattern suggests improving manufacturing sentiment that should support steel scrap demand across Canadian markets from Toronto to Vancouver. With the dollar index weakening and crude oil volatility elevated, scrap operators should expect continued price swings as macro uncertainty persists. Watch for any escalation in Middle East tensions, which could drive both energy costs and safe-haven metal demand higher.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,402/oz, flat day-over-day. Previous close: $4,402/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold held steady today as Trump's decision to postpone strikes against Iranian energy infrastructure helped ease some geopolitical tensions, though the precious metal continues its recent downward trend after losing ground in four of the last five sessions. For Canadian scrap dealers in Toronto, Montreal, and Vancouver, current gold levels still provide solid returns for jewelry recycling and e-waste recovery, though sellers may want to monitor how the market responds to shifting Middle East risks and Federal Reserve policy signals. The flat trading suggests investors are reassessing gold's safe-haven premium as oil market volatility cools from yesterday's spike.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $69.39/oz, down $0.0575 (-0.08%) day-over-day. Previous close: $69.45/oz.
• 5-day trend: ↓ 4 of last 5 sessions.
• Gold/Silver ratio: 63.4:1.

Silver held near steady despite geopolitical tensions that pushed oil higher, as Trump's decision to back away from Iran energy strikes created mixed signals for precious metals demand. The gold-silver ratio at 63.4:1 suggests silver remains relatively affordable compared to gold, which could attract Canadian scrap sellers in Toronto, Vancouver, and Calgary looking to diversify their metal holdings. With silver continuing its recent weakness after yesterday's modest gain, electronics recyclers and industrial scrap dealers should watch whether the metal can find support around current levels, especially given silver's dual role as both a safe-haven asset and key industrial input for solar panels and electronics manufacturing.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,912/oz, up +$36.00 (+1.92%) day-over-day. Previous close: $1,876/oz. MoM: -11.4%.
• Platinum 5-day trend: ↓ 4 of last 5 sessions.
• Palladium (Pd): $1,396/oz, down $16.00 (-1.13%) day-over-day. Previous close: $1,412/oz. MoM: -19.9%.
• Palladium 5-day trend: ↓ 4 of last 5 sessions.
• Rhodium (Rh): $10,600/oz, down $300.00 (-2.75%) day-over-day. Previous close: $10,900/oz. MoM: -3.4%.
• Rhodium 5-day trend: ↓ 4 of last 5 sessions.

PGM markets showed mixed signals today as scrap sellers in Toronto and Vancouver faced continued selling pressure despite some bright spots. Platinum bucked the trend with a solid $36 gain, offering relief for catalytic converter recyclers after recent weakness, though all three metals are still fighting downward momentum over the past week. The backdrop of volatile oil markets and shifting geopolitical tensions is creating uncertainty for industrial scrap volumes, particularly affecting auto recyclers in Calgary and Montreal who depend on steady PGM flows from end-of-life vehicles.

Copper — Current Indicators

• COMEX/Spot Copper: $5.41/lb, down $0.0830 (-1.51%) day-over-day. Previous close: $5.50/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper retreated about 8 cents today as energy market volatility continued to ripple through industrial metals, with the red metal giving back some of yesterday's gains amid mixed economic signals. Scrap sellers across Toronto, Montreal, and Vancouver markets should note that #1 and #2 copper, along with bare bright wire, are still holding above recent lows despite the pullback. The ongoing weakness over 3 of the last 5 sessions suggests Canadian auto recyclers and industrial sellers might want to move material sooner rather than later if this downward pressure persists.

Aluminum — Current Indicators

• LME Aluminum: $3,226/tonne ($1.46/lb), down $0.0009 (-0.06%) day-over-day. Previous close: $1.46/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum prices held steady at Canadian scrap yards from Toronto to Calgary, with the minor decline barely registering against yesterday's geopolitical volatility that sent oil markets soaring. Despite crude oil jumping over $2 on Middle East tensions, aluminum showed resilience with only a fractional dip, suggesting the metal is finding support after recent weakness that took it from $1.49 to current levels. Cast aluminum sellers and auto recyclers processing sheet metal should expect stable pricing through the week, though the recent downward trend across three of five sessions warrants watching for any broader industrial demand shifts.

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 Recycling and let vetted Canadian buyers compete for your scrap.