Smash Scrap Morning Metals Report – February 20, 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): $2,123/oz, up +$61.00 (+2.96%) day-over-day.
• Palladium (Pd): $1,708/oz, up +$54.00 (+3.26%) day-over-day.
• Rhodium (Rh): $10,975/oz, flat day-over-day.

Platinum and palladium prices jumped sharply today, with platinum up $61 to $2,123 per ounce and palladium rising $54 to $1,708 per ounce. These strong gains are good news for catalytic converter recyclers and auto scrapyards across Alberta, BC, and the northern U.S., as higher precious metal prices mean better payouts for scrap catalysts. Rhodium held steady at $10,975 per ounce, maintaining its premium value for recyclers processing high-end automotive catalysts.

Copper — Current Indicators

• COMEX/Spot Copper: $5.86/lb, up +$0.1025 (+1.78%) day-over-day.
• 5-day trend: ↑ 1 of last 1 sessions.

Copper prices jumped to $5.86 per pound today, up $0.10 or 1.78% from yesterday, which is good news for scrap sellers across Western Canada and the northern United States. This price increase means sellers can expect higher payouts for #1 copper at around $5.27 per pound, #2 copper at about $4.97 per pound, bare bright copper wire at roughly $5.71 per pound, and insulated copper wire at approximately $1.75-$3.50 per pound depending on thickness. With copper showing an upward trend, now could be a smart time to cash in your copper scrap.

Aluminum — Current Indicators

• LME Aluminum: $3,081/tonne ($1.40/lb), up +$0.0075 (+0.54%) day-over-day.
• 5-day trend: → flat over last 2 sessions.

Aluminum scrap prices in Western Canada and northern USA markets are holding steady at $1.40 per pound, up slightly by less than a penny today. Scrap sellers with cast aluminum, sheet metal, and aluminum extrusions can expect consistent demand at current price levels. With rare earth metals production expanding in the US according to recent industry news, domestic aluminum recycling may see increased competition from new metal supplies in coming months.

Canadian Dollar Note

The USD/CAD exchange rate is 1.3696. All screen prices above are in USD. Here are key CAD conversions:

• Copper in CAD: $5.86/lb USD × 1.3696 = $8.03/lb CAD
• Aluminum in CAD: $1.40/lb USD × 1.3696 = $1.91/lb CAD

Macro Backdrop — Energy and Risk

Brent crude oil is trading at $17.21 per barrel this morning, down $0.04 or 0.23% from yesterday. Energy markets are showing mixed signals as Japan commits $36 billion toward U.S. energy projects, while domestic rare earth metals production gets a boost with Phoenix Tailings securing $40.2 million in new funding.

Lower oil prices typically reduce transportation costs for scrap metal shipments, which can help margins for processors and dealers. The push for domestic rare earth production and energy independence could drive demand for specialty metals and alloys used in clean energy infrastructure. With the Canadian dollar trading at 1.3696 against the U.S. dollar, Western Canada's scrap exporters maintain a competitive edge in cross-border trade, though softer energy prices may weigh on industrial demand from oil and gas sectors.

Smash Scrap Takeaways for Today

• PGMs — Strong gains today with platinum up $61 (+2.96%) and palladium up $54 (+3.26%). Sell your catalytic converters and industrial PGM scrap now while prices are climbing across Alberta and BC markets.
• Copper — Copper jumped $0.10 to $5.86/lb (+1.78%) today. List your wire, pipe, and industrial copper on SMASH immediately to capture this upward momentum before profit-taking begins.
• Aluminum — Minor gain of $0.0075 to $1.40/lb (+0.54%) signals weak demand. Hold your aluminum scrap inventory another week unless you need quick cash flow for your Western Canada operations.

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.