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 to learn 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

17 mins ago

General Administration of Customs: China's April Copper Cathode Imports Up 5.20% YoY, Import and Export Breakdown

17 mins ago

2 hours ago

Slightly Widening Price Spread Between Futures Contracts Bolstered Efforts to Hold Prices Firm, Spot Copper Discounts on SHFE Copper Moved Sideways [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, the Contango price spread between nearby contracts is expected to widen slightly, and suppliers' willingness to hold prices firm is expected to strengthen. During the day, downstream enterprises countered some standard-quality copper at a discount of 120 yuan/mt, but suppliers held prices firm and held back from selling, and the discount did not widen significantly. Demand side, affected by high copper prices, end-users' cargo pick-up pace slowed down, finished product inventories at some processing enterprises rose, and procurement volumes declined. Overall, given weak demand, Shanghai spot copper premiums against the 06 contract are expected to remain at a discount tomorrow.

2 hours ago

Copper Prices Stop Falling and Rebound, Spot Premiums Weaken [SMM North China Spot Copper]

Today, #1 copper cathode spot prices in North China against the front-month contract were reported at an average discount of 300 yuan/mt to a discount of 220 yuan/mt, with the average discount of 260 yuan/mt down 10 yuan/mt from the previous trading day. The average transaction price was 104,785 yuan/mt, up 1,690 yuan/mt from the previous trading day.

2 hours ago