Every scrap copper price in Australia starts from one number: the world copper price in US dollars, converted to Australian dollars. If you can read that number yourself, you can tell whether an offer is reasonable. This page shows where to find it, how to convert it and how much the exchange rate moves it. It does not give a yard price, because we found no sourced Australian price list. For how yards turn the benchmark into an offer, see Scrap Yard Copper Prices: How to Check an Offer.
Today's benchmark, worked through
On 29 October 2026 the official London Metal Exchange (LME) cash settlement for copper was US$14,560 a tonne, and the three-month price was US$14,350 [1]. The Reserve Bank of Australia's rate that day was US$0.7053 per A$1 [2].
- Divide US dollars a tonne by the exchange rate: 14,560 / 0.7053 = about A$20,644 a tonne.
- Divide by 1,000 to get a kilogram: about A$20.64.
That is the price of refined copper, not scrap. Scrap sells below it, and we found no sourced figure for how far.
How much the exchange rate matters
The same US$14,560 benchmark gives different Australian prices at different exchange rates:
| AUD in US dollars | Benchmark, A$ per kg |
|---|---|
| 0.68 | 21.41 |
| 0.70 | 20.80 |
| 0.7053 (29 Oct) | 20.64 |
| 0.72 | 20.22 |
Each cent on the exchange rate moves the benchmark by roughly 30 cents a kilogram. So a copper price can fall in Australian dollars even when the US price is flat, and rise when the dollar weakens.
How much the US price matters
At the 29 October exchange rate, the Australian dollar benchmark moves like this:
| LME copper, US$ a tonne | Benchmark, A$ per kg |
|---|---|
| 13,000 | 18.43 |
| 14,000 | 19.85 |
| 14,560 (29 Oct) | 20.64 |
| 15,000 | 21.27 |
| 16,000 | 22.69 |
A US$1,000 move in copper is about A$1.42 a kilogram.
Cash and three-month prices
The 29 October cash price was US$210 above the three-month price [1]. Traders call that pattern backwardation, and it means metal for immediate delivery costs more than metal for later delivery. For scrap, the cash price is the one yards usually watch, but check with your buyer which one they use.
Where to look it up
- The LME price: the official settlement is published each day by sources such as Westmetall [1].
- The exchange rate: the Reserve Bank of Australia publishes daily rates [2].
- Your calculation: use the two steps above, or the scrap calculator for an indicative estimate. When we checked on 30 October the ScrapTrade index said it was showing reference estimates while live pricing was temporarily unavailable, so we do not print its figures.
Why the price moves
For the forces behind copper, see our analyses of Copper Prices in A$, China's Copper and Aluminium Scrap Rules and US Copper and Critical-Mineral Scrap Policy. Our Why Copper Scrap Prices Move: What to Watch page lists the things to watch.
Selling copper
If you sell as a business, the ATO's scrap code expects an ABN or the buyer withholds 47%, and in NSW and Victoria dealers cannot pay cash. See What If Every Scrap Trade Were on the Books?. ScrapTrade is a marketplace where you list material, review buyer offers and negotiate. Its How It Works page describes the steps, and its Trust & Safety page says payment is held in escrow from the moment a deal is confirmed and released once pickup or delivery is confirmed. You can create a free account to try it. ScrapTrade has a commercial interest in the scrap trade.
What we could not verify
- A sourced Australian yard price for copper scrap.
- How far below the benchmark each grade sells.
- Today's figures. The numbers above are for 29 October 2026 and will have moved.
Frequently asked questions
What is the copper price in Australian dollars?
On 29 October 2026 the LME cash price was about A$20.64 a kilogram at the Reserve Bank's exchange rate, for refined copper [1][2].
Why does the copper price change in Australia when the US price doesn't?
The Australian dollar price depends on the exchange rate as well. About 30 cents a kilogram moves with each cent on the dollar.
Is scrap copper worth the LME price?
No. Scrap sells below the benchmark, and how far below depends on the grade and the buyer.
Sources
- Westmetall, Official LME prices, 29 October 2026.
- Reserve Bank of Australia, Exchange rates, 29 October 2026 (US$0.7053 per A$1).
Figures are indicative and not an offer or advice. ScrapTrade operates a scrap marketplace and has a commercial interest in the scrap trade.