What is the LME, and why does it matter for the price you get for scrap?
Short answer: The London Metal Exchange (LME) is the world's primary marketplace for trading base metals like copper, aluminium, and zinc, and its published prices function as the global reference point that scrap buyers everywhere use as their starting point — when a local buyer quotes you a price, they're almost always pricing relative to that day's LME benchmark, adjusted down for their own margin and processing costs.
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List Free →Why one exchange sets the tone globally
Because so much of the world’s metal trading references the LME, it functions as a shared price language — a buyer in any country can quote relative to “LME plus or minus a margin” and be understood by anyone else in the industry.
What this means when you get a quote
A local scrap buyer’s price isn’t arbitrary — it’s typically derived from that day’s benchmark price for the relevant metal, minus the buyer’s margin for processing, transport, and profit.
Why this is worth understanding as a seller
Knowing that a real, checkable benchmark sits behind your quote gives you a way to sanity-check whether an offer is reasonable, rather than simply trusting whatever number a buyer states.
How ScrapTrade Fits In
ScrapTrade shows current pricing referenced against these global benchmarks, giving you a transparent starting point before you compare buyer offers.
Understanding how global benchmarks flow into your local offer helps you evaluate any quote with confidence. ScrapTrade connects verified buyers and sellers with transparent, benchmark-referenced pricing.
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