SMASH Recycling Morning Metals Report – March 17, 2026

Prices as of March 17, 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 — $5,021/oz ▲
• Silver — $80.80/oz ▲
• PGMs — Rh ▼ $11,450 · Pt ▲ $2,146 · Pd ▲ $1,607
• Copper — $5.76/lb ▼
• Aluminum — $1.55/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3675

SMASH Recycling Takeaways for Today

• Gold & Silver — Hold off on selling today with gold up $21 to $5,021/oz and silver gaining 4 cents to $80.80/oz. Both precious metals are showing strength despite recent volatility. Toronto and Montreal yards should wait for further gains before moving inventory.
• PGMs — Strong day to sell platinum and palladium with platinum jumping $31 to $2,146/oz (+1.47%) and palladium up $16 to $1,607/oz (+1.01%). Vancouver and Calgary recyclers should list catalytic converter inventory on SMASH Recycling today. Rhodium dropped $50 to $11,450/oz — hold rhodium-bearing materials.
• Copper — Prices fell 8 cents to $5.76/lb (-1.33%) after yesterday's gains were partially reversed. Hamilton and Ottawa yards should hold copper wire and pipe inventory as this dip may be temporary given recent technical support levels.
• Aluminum — Modest gain of 1 cent to $1.55/lb (+0.77%) continues the recent uptrend. Edmonton and Winnipeg dealers can sell aluminum cans and extrusions at current levels, but prices remain range-bound overall.
• Big Picture — Market shows mixed signals with 5 of 8 metals higher today, indicating cautious optimism but ongoing volatility across Canadian scrap markets.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $102.42/bbl, up $1.56 (+1.55%) day-over-day.

Oil surged $1.56 overnight as Middle East tensions escalate, with reports suggesting "peak war panic" could hit global markets within weeks. The Treasury Department confirmed it won't intervene in oil markets despite rising prices, leaving energy costs to climb on supply disruption fears through the Strait of Hormuz. This energy spike creates mixed signals for Canadian scrap yards from Vancouver to Montreal - higher transportation costs eat into margins, but industrial metals often rally when oil jumps on geopolitical risk.

The macro backdrop shows inflation expectations holding steady at 2.36% while the 10-year yield ticked up to 4.28%, suggesting bond markets aren't panicking yet about energy-driven price pressures. For scrap operators in Toronto and Calgary, watch how this oil rally affects trucking costs versus potential upside in copper and steel prices if the geopolitical premium spreads to industrial metals. Yesterday's modest recovery in copper and platinum suggests some metals are finding support after recent weakness, but sustained energy price spikes could shift the risk-reward balance quickly.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $5,021/oz, up +$21.36 (+0.43%) day-over-day. Previous close: $5,000/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold edged higher as escalating Middle East tensions and surging oil prices reinforced its safe-haven appeal for Canadian scrap sellers and recyclers. Despite mostly declining in recent sessions, the precious metal found support from "peak war panic" fears that could disrupt global markets within weeks, making scrap gold from jewelry, electronics, and dental materials more valuable for sellers across Toronto, Vancouver, and other major Canadian markets. With the Treasury Department confirming it won't intervene in commodity markets despite rising energy costs, gold's traditional role as a hedge against geopolitical uncertainty continues to underpin prices for scrap yard operators and e-waste recyclers looking to capitalize on flight-to-safety demand.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $80.80/oz, up +$0.0450 (+0.06%) day-over-day. Previous close: $80.75/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 62.1:1.

Silver edged higher today as escalating Middle East tensions and oil's surge to $102.42 per barrel boosted safe-haven demand, though the modest gain shows precious metals markets may have already priced in much of the geopolitical risk premium. For Canadian scrap sellers from Vancouver to Montreal, the gold-to-silver ratio of 62:1 suggests silver remains relatively undervalued compared to gold, potentially making it an attractive option for recyclers holding electronics, solar panel components, or industrial silver scrap. However, silver's recent weakness in three of the past five sessions indicates caution is warranted, as the metal's dual role as both a precious and industrial commodity leaves it vulnerable to any shifts in manufacturing demand or further profit-taking by investors.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,146/oz, up +$31.00 (+1.47%) day-over-day. Previous close: $2,115/oz.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,607/oz, up +$16.00 (+1.01%) day-over-day. Previous close: $1,591/oz.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $11,450/oz, down $50.00 (-0.43%) day-over-day. Previous close: $11,500/oz.
• Rhodium 5-day trend: ↓ 2 of last 5 sessions.

Platinum and palladium both posted modest gains today, with platinum adding $31 and palladium up $16, as Middle East tensions continue to support precious metals despite both having declined in three of the last five sessions. Rhodium bucked the trend with a $50 pullback, though the metal remains near elevated levels above $11,400 per ounce. For Canadian scrap sellers from Vancouver to Montreal, current PGM prices offer solid returns on catalytic converters and industrial waste, though the mixed signals suggest monitoring daily moves closely rather than holding inventory too long in this volatile geopolitical environment.

Copper — Current Indicators

• COMEX/Spot Copper: $5.76/lb, down $0.0775 (-1.33%) day-over-day. Previous close: $5.84/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Copper slipped about 8 cents today as Middle East war tensions and rising oil costs weigh on industrial metals demand, with the red metal falling in four of the last five sessions. Canadian scrap yards from Vancouver to Montreal are seeing softer pricing for #1 and #2 copper, bare bright wire, and automotive harnesses as buyers pull back amid uncertainty about global manufacturing activity. With oil surging to $102 and "peak war panic" potentially weeks away, copper sellers should expect continued volatility as markets balance supply disruption fears against weakening demand from energy-sensitive industries.

Aluminum — Current Indicators

• LME Aluminum: $3,417/tonne ($1.55/lb), up +$0.0119 (+0.77%) day-over-day. Previous close: $1.54/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Aluminum edged higher as Middle East tensions and oil's surge to $102.42 per barrel lifted industrial metals, with the modest gain continuing aluminum's recent upward momentum after strong moves earlier this month. For Canadian scrap sellers in Toronto, Vancouver, and Montreal, this creates a supportive backdrop for cast aluminum from auto parts and sheet metal from construction projects, though the small increase suggests buyers remain cautious about committing to higher prices. Watch whether oil's continued climb on supply disruption fears through the Strait of Hormez translates into broader industrial demand, which could benefit extrusion sellers from manufacturing operations across Calgary and Hamilton.

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.