Scrap Metal Price Trends: What to Expect in 2026

Three different prices people call "the scrap price"

Most confusion about scrap pricing comes from comparing numbers that measure different things. There are three, and they are never the same figure.

The mill index is what steel mills pay for processed, shredded material delivered in bulk. In mid-July 2026 that sat around $380 per metric tonne. You will never be paid this, because you are not delivering a shredded, sorted tonne to a mill.

The yard buying price is what a scrap yard pays you per ton for a complete vehicle, after subtracting its own processing, transport, and margin. Through 2026 that ran $146 to $206 per ton, with a national average near $190.

The sorted-metal price is what you get per pound for clean separated material — copper, aluminum, brass. These are far higher per unit weight, which is why stripping valuable metals before scrapping can beat selling the car whole, if you have the time and tools.

Measure	July 2026 level	Who gets it
Shredded steel, mill index	~$380 / metric tonne	Shredders selling to mills
Complete car, yard buying price	$146-$206 / ton, avg ~$190	You, selling a whole vehicle
#1 bare bright copper	~$5.00 / lb	You, delivering clean sorted metal

Steel and iron

Steel is the weakest major scrap market as of July 2026. The index slipped another $10 to $15 per metric tonne over recent weeks, and while it sits roughly 9% above where it was a year ago, the recent direction has been down.

For a vehicle seller this matters less than the headlines suggest, because your payout is set by the yard buying price, not the index. Expect $146 to $206 per ton depending on region, with the national average near $190. Michigan, California and Ohio led the country on scrap pricing through 2026.

One adjustment people forget: yards typically deduct roughly 500 pounds for tires and fluids before paying, because neither goes to the shredder as steel. Subtract that from your curb weight before doing the math, or your expectation will run high by $40 to $50 on every quote.

Copper

Copper is the strongest performer in this list. #1 bare bright ran close to $5.00 per pound in July 2026, up sharply from the $3.75 to $4.10 range seen in earlier years. Prices moved almost daily through the month — bare bright rose $0.09 per pound on July 15, 2026 alone after slipping a cent the day before.

On a passenger vehicle the recoverable copper is mostly in the wiring harness, the starter, and the alternator windings. Stripping a harness is slow, dirty work, and insulated wire pays well below bare bright, so this is worth doing only if you already have the car apart.

Aluminum

Aluminum was volatile through early July 2026. The highest grades fell $0.25 to $0.30 per pound at the start of the month before stabilizing, and old cast recovered $0.02 per pound in the week ending July 9, 2026.

On a car, aluminum shows up in wheels, some engine blocks and cylinder heads, transmission cases, and radiator end tanks. Alloy wheels are the easiest win: a clean set of four with no curb damage or bends is worth more sold as wheels than as scrap weight.

Catalytic converters

Converter values have fallen a long way from their peak, and the reason is entirely in the precious metals. Palladium dropped from about $2,800 per ounce in 2022 to roughly $950 in 2026. Rhodium fell further, from around $14,000 per ounce to roughly $4,800. Automakers also shifted formulations toward platinum, which changed what each unit contains.

What that means in practice as of 2026:

• Standard factory converter — roughly $100 to $250, containing 10 to 20 grams of precious metal.
• High-grade foreign and hybrid units — $600 to $1,400. Hybrid platforms sit at the top because they run richer catalyst loading.
• Toyota Prius — commonly $300 to $700, the single most recognized high-value unit.
• Aftermarket replacement — $5 to $20. These carry only enough catalyst to pass emissions, so if a previous owner already swapped yours, expect almost nothing for it.

Converter theft and resale are regulated in many states. A licensed buyer will record your VIN, photograph the converter in place, and refuse a loose unit handed over without documentation. That is compliance, not suspicion.

How to get the best price

1. Collect quotes inside one week. Rates move monthly and sometimes daily, so quotes gathered a month apart compare market days rather than buyers.
2. Ask what the number covers. A quote per ton on a complete car is not comparable to a quote on sorted material. Establish which one you are being given.
3. Weigh the car correctly. Use curb weight from the door jamb sticker, not the gross vehicle weight rating, which runs 1,000 to 1,800 pounds higher because it includes payload.
4. Disclose the converter honestly. If yours was stolen or already replaced with an aftermarket unit, say so before the quote rather than arguing about it at pickup.
5. Check whether delivery beats pickup. Towing costs a buyer $75 to $150 and is priced into your offer. If the car still drives, ask what the drive-in price is.

Where these numbers came from, and when they expire

Every figure above is dated to July 2026 deliberately. Scrap is a commodity market: steel moves with construction demand, export volume and mill capacity, while converter values track palladium, platinum and rhodium. Monthly swings of 10% to 20% are normal, and a price quoted without a date is a guess.

If you are reading this well after mid-2026, treat the structure as durable and the numbers as stale. The relationship between mill index, yard buying price and sorted-metal price holds regardless of the level. Check a live pricing source and your local yards before you commit.