LME Copper Breaches $14,000 Mark, Driving European Copper Scrap Wholesale Prices to Record Highs

Published: May 21, 2026 09:33

Save

In mid-May, LME copper rallied strongly, exceeding the historical $14,000/mt mark for the first time. The boom on the metal exchange drove European copper scrap prices to unprecedented levels. According to German market data, wholesale purchasing prices for copper scrap increased by €30 to €55 per 100 kilograms within a single week, depending on the grade, with brass scrap following the uptrend. This price surge has further strengthened the reluctance to sell among holders of already scarce high-quality local scrap in Europe.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

13 mins ago

[SMM Flash] ADNOC July Sulfur OSP Jumps to $1,000/mt, Hitting Record High

According to market sources, Abu Dhabi National Oil Company (ADNOC) sharply raised its sulfur official selling price (OSP) for the Indian subcontinent market in July 2026 to $1,000/mt (FOB Ruwais), up $140/mt from the June price. Other Middle Eastern suppliers' July contract prices: QatarEnergy $890/mt (FOB)

13 mins ago

53 mins ago

US Macro Data Below Expectations, Copper Prices Maintain Fluctuating Trend [SMM Copper Morning Briefing]

SMM Morning Call Summary: Overnight, LME copper opened at $13,120/mt, dipped to a low of $13,103.5/mt in early trading, then the price center drifted higher to touch $13,364/mt, after which it swung wildly and finally closed at $13,330.5/mt, down 0.37%, with trading volume at 23,000 lots and open interest at 242,000 lots, a decrease of 3,122 lots from the previous trading day, indicating long position reduction. Overnight, the most-traded SHFE copper 2608 contract opened at 101,830 yuan/mt, dipped to 101,640 yuan/mt in early trading, then the price center moved sharply higher to touch 102,930 yuan/mt, after which it swung wildly and finally closed at 102,520 yuan/mt, up 0.07%, with trading volume at 50,000 lots and open interest at 154,000 lots, a decrease of 286 lots from the previous trading day, indicating short position reduction.

53 mins ago

55 mins ago

Domestic and international copper swung wildly in the night session, with weak US employment and the Fed’s tapering signal [SMM copper morning comment]

55 mins ago