Copper scrap prices do not move on their own. They follow a short list of things you can watch, and knowing the list helps you decide when an offer is fair and when to wait. This page sets out what to watch, with the evidence we could verify, and links to deeper analysis. It gives no yard price, because we found no sourced Australian price list.
1. The world copper price
Yards price scrap off the London Metal Exchange (LME) copper price. On 29 October 2026 the official cash settlement was US$14,560 a tonne, and the three-month price was US$14,350 [1]. LME warehouse stocks were 272,200 tonnes that day [1], a figure traders watch, though we do not judge whether that level is high or low.
2. The Australian dollar
The benchmark reaches you in Australian dollars. At the Reserve Bank's rate of US$0.7053 per A$1 on 29 October [2], US$14,560 is about A$20.64 a kilogram. Each cent on the exchange rate is worth roughly 30 cents a kilogram, as worked through in Copper Price Today in A$.
3. Chinese import rules
China took 56% of Australia's copper and copper-alloy scrap exports by value in 2025-26, according to our analysis, so its rules matter. We cover them in China's Copper and Aluminium Scrap Rules, and the destinations in Who Buys Australia's Aluminium and Copper Scrap.
4. United States policy
US rules on copper tariffs and domestic sales requirements affect global flows. See US Copper and Critical-Mineral Scrap Policy, which sets out what the Federal Register text says and what is still undecided.
5. Grade and quality
Two loads with the same weight earn different amounts if they are different grades. The grades are explained in Copper Scrap Price Per Kg: Grades Explained.
What the long run shows
Australian customs data gives a long view. Declared export value for copper and copper-alloy scrap rose from A$4,737 a tonne in 2017-18 to A$10,806 in 2025-26, up 128%, while tonnes rose 27% [3]. These are yearly averages across grades and destinations, not yard prices. In the same data we found no consistent positive link between value per tonne and tonnes, and the same-month link was negative, which we read as a shipment-mix effect, not proof that higher prices cut exports. See Do Scrap Export Volumes Follow Prices?. Export volumes are also seasonal, with January the weakest month in every year from 2018 to 2025, as set out in Australia's Scrap Exports by Month. That data is for volume, and it does not show prices.
How to use this
- Do not judge an offer without a date. Compare it with the benchmark on the same day, as shown in Scrap Yard Copper Prices: How to Check an Offer.
- Do not read a single week as a trend. Our data shows price and volume do not move together reliably.
- Compare more than one buyer. Offers vary by yard.
Selling it
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 and review buyer offers, as set out on How It Works. 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.
- Whether current LME stocks are high or low without a longer history.
- The effect of any one policy on yard prices.
Frequently asked questions
What drives the scrap price for copper?
Mainly the LME benchmark, the exchange rate and the grade of your material, with policy and demand in China and the US in the background.
Does the copper price in Australia follow the US price?
It follows the US dollar price converted at the exchange rate, so both matter [1][2].
Have copper scrap values risen in Australia?
Declared export value for copper and copper-alloy scrap rose 128% from 2017-18 to 2025-26, but it is a yearly average, not a yard price [3].
Sources
- Westmetall, Official LME prices, 29 October 2026.
- Reserve Bank of Australia, Exchange rates, 29 October 2026 (US$0.7053 per A$1).
- Department of Climate Change, Energy, the Environment and Water, waste exports data (ABS records), HS 7404, ScrapTrade calculations, via Do Scrap Export Volumes Follow Prices?. 2025-26 figures are provisional.
Figures are indicative and not an offer or advice. ScrapTrade operates a scrap marketplace and has a commercial interest in the scrap trade.