SMASH Recycling Morning Metals Report – March 18, 2026

Prices as of March 18, 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.

Jump to:

• Gold — $4,898/oz ▼
• Silver — $78.16/oz ▼
• PGMs — Rh ▸ $11,400 · Pt ▼ $2,069 · Pd ▼ $1,549
• Copper — $5.70/lb ▼
• Aluminum — $1.53/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3699

SMASH Recycling Takeaways for Today

• Gold & Silver — Hold off selling today with gold down $102 to $4,898/oz and silver off 98 cents to $78.16/oz. Both precious metals are showing 2%+ declines but our models called this weakness correctly. Wait for any bounce above $4,950 gold/$79 silver before moving inventory to SMASH Recycling.
• PGMs — Platinum took the biggest hit, down $53 to $2,069/oz (-2.5%), while palladium dropped $32 to $1,549/oz. Rhodium held flat at $11,400/oz. Toronto and Vancouver yards should list platinum scrap immediately before further weakness, but rhodium sellers can wait given the stability.
• Copper — Sell copper scrap now with prices down 7 cents to $5.70/lb. This breaks below recent support levels and industrial demand concerns are mounting across Montreal and Calgary markets. Don't wait for a bounce that may not come.
• Aluminum — The only bright spot today, up less than a cent to $1.53/lb. Hamilton and Ottawa yards should hold aluminum inventory as this upward momentum could build. Small move but positive direction matters in this weak market.
• Big Picture — Broad selling pressure dominates with only 1 of 8 metals higher today, confirming our models' bearish calls were accurate.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $105.67/bbl, up $2.87 (+2.79%) day-over-day.

Oil's sharp $2.87 rally reflects growing tensions in the Middle East and concerns about supply disruptions hitting global energy markets. The surge comes as traders price in geopolitical risk premiums, with Brent now back above $105 after recent volatility. Higher energy costs typically boost scrap metal values across Canadian markets, as increased transportation and processing expenses get passed through the supply chain from Toronto's auto recyclers to Vancouver's industrial processors.

The macro backdrop shows mixed signals for metals demand. While inflation expectations ticked up slightly to 2.37%, the 10-year yield dropped to 4.23%, suggesting bond markets aren't overly concerned about runaway price pressures. For Canadian scrap dealers in Calgary, Edmonton, and other energy-focused regions, today's oil strength should provide underlying support for steel and copper values. However, the recent ETF selling pressure in precious metals markets and ongoing concerns about Chinese industrial demand could limit upside momentum for base metals processors in Hamilton, Montreal, and Winnipeg.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,898/oz, down $102.12 (-2.04%) day-over-day. Previous close: $5,001/oz.
• 5-day trend: ↓ 4 of last 5 sessions.

Gold pulled back after geopolitical tensions that drove oil sharply higher failed to provide sustained support to the precious metal. The decline weighs on scrap gold sellers across Toronto, Montreal, and Vancouver who may see reduced payouts at recycling centers, while e-waste processors handling circuit boards and electronic components face tighter margins on gold recovery operations. Despite the retreat, gold remains well-supported above key levels as central bank demand and safe-haven buying continue to underpin the market amid ongoing Middle East supply disruption concerns.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $78.16/oz, down $0.9845 (-1.24%) day-over-day. Previous close: $79.14/oz.
• 5-day trend: ↓ 4 of last 5 sessions.
• Gold/Silver ratio: 62.7:1.

Silver dropped nearly a dollar today amid broader metals weakness, as the growing Middle East tensions that boosted oil failed to lift precious metals demand. For Canadian scrap sellers from Vancouver to Halifax, this pullback represents a cooling-off from recent highs, though silver remains well-supported by its dual role as both a safe haven and key industrial input for solar panels and electronics recycling. The gold-silver ratio sitting at 62.7 to 1 suggests silver is still relatively expensive compared to gold, potentially making this dip attractive for scrap yard operators looking to time their sales of jewelry, silverware, and electronic components containing the white metal.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,069/oz, down $53.00 (-2.50%) 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.

Platinum and palladium both faced selling pressure today, with scrap sellers in Toronto and Vancouver seeing weaker buyback offers as both metals extended their recent downtrends. Despite growing Middle East tensions boosting oil prices, the precious metals complex couldn't find support, suggesting industrial demand concerns are outweighing any safe-haven buying. Rhodium held steady near current levels, providing some stability for catalytic converter recyclers across Calgary and Montreal, though the broader PGM weakness may signal challenging conditions ahead for Canadian auto scrap yards.

Copper — Current Indicators

• COMEX/Spot Copper: $5.70/lb, down $0.0685 (-1.19%) day-over-day. Previous close: $5.76/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Copper slipped about 7 cents today as industrial metals faced headwinds despite oil's surge above $105 on Middle East tensions. The decline continues copper's recent weakness, falling in 4 of the last 5 sessions, suggesting broader demand concerns are outweighing any geopolitical risk premiums. For Canadian scrap sellers from Vancouver to Toronto, this pullback means slightly lower payouts for #1 and #2 copper, bare bright wire, and copper tubing at yards this week, though prices remain well-supported above key technical levels.

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 held steady near recent levels despite growing Middle East tensions that sent oil sharply higher, as the modest uptick reflects cautious optimism rather than any major supply disruption concerns. Canadian scrap sellers from Vancouver to Halifax should note that aluminum has shown resilience compared to other metals, though the recent downward pressure in 3 of the last 5 sessions suggests some underlying weakness. Cast aluminum processors and auto recyclers handling sheet and extrusion grades may find steady demand as industrial buyers remain active, but sellers should watch whether geopolitical premiums start flowing into aluminum if Middle East tensions escalate 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 Recycling and let vetted Canadian buyers compete for your scrap.