Smash Scrap Morning Metals Report – March 20, 2026

Prices as of March 20, 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 — $4,677/oz ▲
• Silver — $72.30/oz ▼
• PGMs — Rh ▼ $11,150 · Pt ▼ $1,978 · Pd ▲ $1,438
• Copper — $5.47/lb ▼
• Aluminum — $1.49/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3728

Smash Scrap Takeaways for Today

• Gold & Silver — Gold gained $8.80 to $4,677/oz while silver dropped 83 cents to $72.30/oz; sellers should capitalize on gold's strength and list quality gold scrap immediately, but hold silver inventory as it's oversold after recent heavy losses
• PGMs — Palladium up $3 to $1,438/oz shows resilience while platinum slipped $2 to $1,978/oz and rhodium fell $150 to $11,150/oz; focus sales on palladium catalytic converters from Detroit and Cleveland auto recyclers before momentum shifts
• Copper — Down 6 cents to $5.47/lb continues the decline from Chicago and Houston industrial sellers; hold copper wire and tubing inventory as prices appear oversold after consistent weakness
• Aluminum — Up 2 cents to $1.49/lb provides selling opportunity for Pittsburgh and Philadelphia scrap yards; move aluminum cans, siding, and structural scrap while prices show strength
• Big Picture — Mixed signals with only 3 of 8 metals higher today suggests cautious market conditions; prioritize sales of strongest performers while building inventory in oversold metals

Macro Backdrop — Energy and Risk

Brent Crude Oil: $103.14/bbl, down $0.1100 (-0.11%) day-over-day.

Oil pulled back slightly today, losing 11 cents as markets digest yesterday's massive 35% spike in European natural gas prices following Iran's attack on Qatar's LNG facilities. While crude remains elevated above $103, the geopolitical premium appears to be stabilizing after the initial shock. This energy volatility creates mixed signals for American scrap yards from Detroit to Houston – higher fuel costs squeeze transportation margins, but the broader inflationary pressure from energy disruptions typically supports metal values as industrial buyers rush to secure material before prices rise further.

The Federal Reserve's unchanged 3.64% rate and rising consumer prices suggest the central bank remains focused on fighting inflation rather than supporting growth. This hawkish stance continues pressuring precious metals, with our prediction models showing high confidence for further declines in gold and silver as dollar strength overwhelms safe-haven demand. For scrap operators in Pittsburgh and Cleveland, the combination of elevated energy costs and persistent Fed tightening points to continued volatility in both ferrous and non-ferrous markets, with industrial metals facing particular pressure from manufacturing demand concerns.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,677/oz, up +$8.80 (+0.19%) day-over-day. Previous close: $4,668/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold edged higher, building on yesterday's recovery from the sharp selloff earlier this week as markets stabilize following the initial shock from Middle East tensions. The modest gain offers some relief to scrap sellers in Detroit, Chicago, and other major markets who saw values plummet when precious metals capitulated amid geopolitical uncertainty. While the safe-haven metal is finding its footing as oil prices cool from their spike, recyclers should watch whether this marks a true turnaround or just a pause in the recent downtrend that has pressured scrap jewelry and electronics recovery margins.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $72.30/oz, down $0.8310 (-1.14%) day-over-day. Previous close: $73.13/oz.
• 5-day trend: ↓ 4 of last 5 sessions.
• Gold/Silver ratio: 64.7:1.

Silver pulled back to around $72 as geopolitical tensions from the Iran-Qatar incident appear to stabilize, with scrap sellers facing headwinds from the broader precious metals selloff that's persisted over recent sessions. The gold-to-silver ratio at 64.7:1 suggests silver remains relatively undervalued compared to gold, potentially offering better entry points for industrial buyers needing silver for electronics manufacturing and solar panel production. Scrap yards in Detroit and Chicago should monitor whether this retreat creates stronger buying interest from electronics recyclers, as silver's dual role as both a precious metal and critical industrial input often leads to support during pullbacks when manufacturing demand stays steady.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,978/oz, down $2.00 (-0.10%) day-over-day. Previous close: $1,980/oz. MoM: -4.6%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,438/oz, up +$3.00 (+0.21%) day-over-day. Previous close: $1,435/oz. MoM: -13.8%.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $11,150/oz, down $150.00 (-1.33%) day-over-day. Previous close: $11,300/oz. MoM: +2.3%.
• Rhodium 5-day trend: ↓ 3 of last 5 sessions.

PGM markets showed mixed signals as rhodium dropped $150 while palladium edged higher, reflecting the ongoing volatility that has marked recent sessions. Despite all three metals showing downward pressure over the past week, scrap sellers in Detroit and Chicago automotive hubs should note that rhodium remains well above $11,000 per ounce, maintaining strong value for catalytic converter recyclers. With geopolitical premiums appearing to stabilize after this week's energy market disruptions, PGM prices may find more technical direction in the near term.

Copper — Current Indicators

• COMEX/Spot Copper: $5.47/lb, down $0.0555 (-1.00%) day-over-day. Previous close: $5.53/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Copper dropped about 6 cents today as markets stabilize following this week's geopolitical shock, with the red metal continuing its recent downward trend that's now hit 3 of the last 5 trading sessions. Scrap sellers across Detroit, Chicago, and Houston yards are seeing softer pricing for #1 and #2 copper, bare bright wire, and industrial copper as the initial premium from Middle East supply concerns begins to fade. With oil markets also cooling from their spike, copper sellers should watch whether this stabilization holds or if further weakness emerges next week.

Aluminum — Current Indicators

• LME Aluminum: $3,276/tonne ($1.49/lb), up +$0.0156 (+1.06%) day-over-day. Previous close: $1.47/lb.
• 5-day trend: ↓ 3 of last 5 sessions.

Aluminum bounced back today with a modest gain of about 2 cents per pound, recovering partially from recent weakness even as the metal has declined in 3 of the last 5 sessions. While geopolitical tensions from this week's Middle East events initially rattled energy markets, the stabilizing tone suggests aluminum's bounce reflects some bargain hunting rather than supply chain fears. Scrap sellers across Detroit, Chicago, and other major markets should see this uptick benefit cast aluminum and sheet grades, though the recent choppy trading pattern suggests caution before expecting a sustained rally.

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.