This Week’s Scrap Metal Prices & Market News

Copper Breaks Records: What Scrappers Need to Know Now

Report Date: 10/29/2025

Hey Scrappers!

Over the last week, global trade deals and international activity have increased metal markets, with record-setting numbers for several key commodities. President Trump’s current Asian tour has brought attention to rare earth agreements, and a potential deal with China could further boost prices across the board.

If a trade deal is finalized, markets could jump even higher—especially as copper already hit all-time international highs this week.

Should you HOLD or SELL your scrap?

Non-Ferrous News:

Copper prices have surged to new records on international markets. A few months ago, the U.S. price increase was driven by proposed tariffs that were later withdrawn, but today’s gains come from pure demand fundamentals.

Global copper supply continues to lag behind demand, a trend expected to last through the next decade. With increasing electricity use, AI computing expansion, data center construction, and population growth, the world’s copper transmission network will remain under strain.

Expect copper demand to continue climbing — and prices to stay strong well into 2026.

Aluminum

Aluminum has had a tremendous 2025, with near-record average yearly prices. High-grade alloys like 6063 have seen robust gains, while sheet aluminum has also moved upward.

If you’re sorting scrap, separating different grades of aluminum can often double or even triple your return. Check out our iScrap YouTube tutorials to learn how to identify and separate your aluminum grades for maximum payout.

Nickel and Stainless Steel Remain Flat

While copper and aluminum shine, nickel continues to stall. Market prices have shown virtually no growth week-over-week or month-over-month, and 2026 projections remain muted.

We’ve long suggested holding stainless steel, but now might be the time to sell. With limited industrial demand and little upside in the near term, it’s better to move your stainless inventory while focusing on higher-performing metals like copper and aluminum.

Ferrous News:

Steel prices have shown modest but positive movement, climbing $5–$10 per metric ton in recent weeks. While that’s less than a penny per pound, it’s still a welcome sign after nearly nine months of steady declines.

2025 has been challenging for raw steel. Earlier this year, China flooded the global market with excess supply, driving prices down before new tariffs kicked in.

Long-term growth in steel will depend on infrastructure and industrial projects. However, many new constructions are now favoring concrete over steel, and the auto industry’s shift toward aluminum has further reduced steel demand.

Oil & Gas Market Update

Oil and gas prices have continued to slide, reaching 2019 levels despite high global liquidity and industrial activity. With U.S. production remaining strong and Russia still exporting heavily despite the conflict, we’re seeing a global surplus.

Forecasts suggest oil could drop another 15–18% in 2026. That means gas prices could average $2.50 per gallon by mid-year, lowering transportation costs and improving profits for scrappers and haulers alike.

Catalytic Converters:

Catalytic converter prices dipped slightly this week as platinum and palladium both dropped 5–10% alongside gold’s decline. However, rhodium prices have rebounded above $8,000/oz, helping stabilize converter values.

Despite the minor dip, 2025 remains one of the strongest years on record for catalytic converter averages.

Now remains a good time to sell your converters before further volatility hits precious metals markets.

👉 RRCats quotes converters 6 days a week, has a 10-day price lock guarantee, and offers free shipping on all OEM units. Get a quote today!

Carbide & Rare Earth News:

Carbide scrap prices have climbed again, adding another $0.50 per pound over the past three weeks. Demand from the oil and manufacturing sectors continues to push carbide values upward, with limited domestic supply supporting stronger quotes.

If you’re a machinist or work closely with one, save all carbide pieces separately—do not mix them with high-speed steel. Proper sorting can significantly increase your recycling return.

RRCarbide is a nationwide buyer of carbide, tungsten, and other rare earth metals. Get a quote from our team and take advantage of our free shipping options.

Additionally, President Trump’s trade tour in Asia has sparked renewed interest in rare earth element deals, which could be a game-changer for long-term U.S. manufacturing independence and supply chain stability.

OTHER SCRAP NEWS:

  • Electric Vehicle Growth drives copper and aluminum demand, especially for wiring and lightweight frames.
  • AI and Data Centers contribute to copper shortages as new energy and cooling infrastructure expands globally.
  • Recycling Efficiency: Now’s a good time to audit your separation methods. Minor adjustments in sorting can add up to big money as prices rise.

Wrap-Up:

Markets are shifting fast, with non-ferrous metals like copper and aluminum leading the way. Steel and nickel remain stagnant, but carbide and converters still provide strong opportunities.

Keep watching international trade developments—especially any deal between the U.S. and China—as they could set the tone for the rest of Q4 and early 2026.

Scrap ya later!

Other Resources for Scrap:

Disclaimer: This material is solely for informational and educational purposes. It should not be interpreted as a suggestion or recommendation to buy or sell any commodity or associated securities. The author, Tom Buechel, holds no positions in the commodities or securities mentioned herein. His analysis often incorporates broad perspectives to foster diversity and objectivity. He may occasionally feature contrarian views and various market influences to maintain an unbiased approach. Content provided by iScrap App.