Copper Scrap Price Explained: How to Get the Best Rate

Copper scrap is one of the best selling recyclable metals because of their extensive use in the buildings and constructions sector, electrical wiring, plumbers works and general manufacturing. Having a proper idea of price of copper scrap can be useful to you in case you possess copper scrap lying anywhere and wish to get maximum returns in case you also wish to contribute to the environment.

In this guide, we will explain what the copper scrap price is affected by, common types of copper scrap, where to sell copper scrap, and tips for making money.

What Factors Affect Copper Scrap Price?

There are several key factors that cause copper scrap prices to fluctuate:

Purity and Grade 

The cleaner and purer the copper, the higher the price will be. For example, bare bright copper (clean copper wire and not coated) has the highest price and copper that is mixed with insulation or has other impurities will sell for less.

Global Supply and Demand 

Although this sounds simple, commodity price actually depends on global demand and the demand in the electronics field, manufacturing, construction industry, and any interruptions in the supply chain.

Market fluctuations and commodities trading 

Copper prices are highly related to the London Metal Exchange (LME). The price on the LME fluctuates on a daily basis depending on risk factors, economic indicators, and market forces.

Quantity and Form

Bulk sellers tend to receive a better price than if you sell a small amount or mixed scrap.

Region and Shipping Costs

Prices vary according to your region and how far buyers are from processing plants.

Scrap Yard Pricing Rules

Scrap buyers set their pricing according to their ability to process specific types and demand.

Common Types of Copper Scrap and their pricing

When you know the type of copper scrap you have, it allows for better pricing and sorting:

Bare Bright Copper

Clean copper wire that is uncoated with no insulation. It is the most valuable copper scrap.

#1 Copper

Clean copper (wire) that may have light oxidation or some light surface deficiencies.

#2 Copper

Copper that has impurities including insulation or maybe some light corrosion and is less valuable.

Copper Wire (Insulated and Uninsulated)

Insulated wire is of lesser value unless you remove the insulation.

Copper Pipes and Tubing used in plumbing

Typically valued by weight and cleanliness.

Estimated pricing range in AUD/kg for copper obtained by a scrap yard if you sold the items above directly.

Bare Bright Copper: $8 – $12

#1 Copper: $6 – $9

#2 Copper: $3 – $6

Copper Wire (insulated): $1 – $3

Copper Pipes: $5 – $8

How to Check Current Copper Scrap Prices

If you want to know the current scrap copper prices so that you get the best bang for your buck, you should regularly be checking for current copper scrap price:

Local Scrap Yards and Metal Recyclers: Call them and get their daily prices.

Online Price Tracking Tools: Use apps or websites such as iScrap App and ScrapMonster for the current prices.

Commodities Market Updates: Follow the LME or other global metal trading platforms for the best pricing updates.

Compare the Quotes: Do not always take the first offer, shop the price and check out other local scrap yards and recyclers.

Where to Sell Copper Scrap for the Best Price

Often it is about who you are selling it to:

Scrap Yards and Metal Recyclers

This is the most common place and where most people sell their scrap. Make sure you are using a licensed and reputable company.

Specialised Copper Recycling Companies

Some companies focus on copper scrap and may pay you a premium price and if you have large amounts or premium copper they may provide a reasonable premium price.

Online Marketplaces and Local Classifieds 

If you are a smaller seller, local marketplaces such as Gumtree and Facebook Marketplace can connect you with local buyers.

Confirm that the buyer is compliant

Make sure that every buyer is compliant with the environmental regulations and annual surplus licensing.

Tips to Maximise Your Copper Scrap Price

Clean and Sort Your Copper

It is critical to remove insulation and any other materials to increase the grade of scrap copper possible.

Sell Larger Quantities

Selling in bulk, will usually give you better rates.

Stay Current and Research Market Trends

Do your research and pay carefully, because timing.

Environmental and Economic Benefits of Recycling Copper Scrap

Recycling copper scrap isn't just good for your wallet, but it's also good for the environment:

Conserves Copper Natural Resources:

Less need for mining new copper ore.

Reduces Energy Use:

There is less energy used in recycling copper scrap than there is in processing copper from raw material.

It creates good recycling business and jobs locally:

Greater economic development and sustainable consumption.

Reduces Environmental Pollution:

Copper waste can leach into landfills and the ecosystem as pollutants

Conclusion

Knowing the price of your copper scrap and what impacts it is the important first step in maximising your scrap. By sorting your scrap, cleaning it to a sellable product, and selling wisely, you can gain maximum returns whilst contributing to more environmentally sustainable economy.