Smash Scrap Morning Metals Report – February 18, 2026

Market screen levels only - not yard pay prices. Actual buy prices at the scale will differ based on grade, moisture, contamination, and freight.

Precious Metals (PGM) - Screen Indicators

• Platinum (Pt): USD $2,038-$2,048/oz, up approximately 1.7% on the day. Platinum remains more than double its price from one year ago.
• Palladium (Pd): USD $1,700-$1,752/oz, up 2.1-4.25% from yesterday's close. Pd is up roughly 78% year-over-year.
• Rhodium (Rh): USD $10,450-$10,700/oz, flat to slightly firmer. Rh has gained approximately 6% over the past month and is up over 130% versus a year ago.

PGM screens remain volatile. Even 1-2% intraday swings can meaningfully move converter and catalyst bids.

Copper - Current Indicators

• COMEX/Spot Copper: USD $5.69/lb, down approximately 1.5-2.0% on the session after pulling back from recent highs.
• Copper is still up roughly 24% year-over-year, keeping the metal near historically elevated levels.
• Earlier this year, copper briefly tested above $6.00/lb before retreating.

No. 1 and No. 2 copper scrap in Canada continues to benefit from this strong base, even with the recent pullback.

Aluminum - Current Indicators

• LME Aluminum: USD ~$3,040-$3,065/tonne, modestly higher versus yesterday. That translates to roughly USD $1.38-$1.39/lb in raw metal terms.
• Aluminum is up approximately 14% year-over-year but has eased slightly over the past month.

Scrap aluminum grades (sheet, cast, extrusion) in Western Canada price at a meaningful discount to benchmarks, with cleaner, better-sorted material capturing the tightest spreads.

Canadian Dollar Note

USD/CAD is trading around 1.366 today. For quick Canadian dollar conversions:

• Copper at ~USD $5.69/lb = ~CAD $7.77/lb
• Aluminum at ~USD $1.38/lb = ~CAD $1.89/lb

Smash Scrap Takeaways for Today

• PGMs: Screens are firm across the board. Good day to tighten grading on catalytic converters and keep premium units separated rather than blended into mixed lots.
• Copper: Still in a historically expensive band despite today's dip. Turn inventory regularly instead of gambling on further upside to lock in strong margins.
• Aluminum: Benchmarks are stable-to-firm year-on-year. Upgrading from dirty to clean aluminum (removing steel, plastic, and attachments) can materially improve realized returns at these levels.

Want to move PGM-bearing material, copper, or aluminum through competitive bidding? List your lots on SMASH and let vetted buyers compete for your scrap.