How do I know if copper pricing quoted to me reflects the current LME benchmark accurately?
Short answer: Check the current LME copper spot price yourself from a live source and compare it against what percentage of that benchmark the buyer's quote represents — legitimate buyers typically price at a consistent, explainable discount to LME reflecting their margin and processing costs, and a quote that seems disconnected from the current benchmark, or that a buyer can't explain relative to LME, is worth questioning.
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List Free →Why buyers price at a discount to LME, not at LME
The LME price reflects pure, refined copper traded at exchange volume — a scrap buyer has processing, transport, and margin costs to cover, so a scrap price at some percentage below LME is normal and expected, not a sign of being lowballed by itself.
What to actually compare
Check the current LME copper price from a live source, then ask the buyer what percentage of that benchmark their quote represents for your specific grade. A consistent, explainable percentage suggests a buyer pricing systematically off the real market.
Red flags in how a price is presented
A buyer who can’t or won’t explain their price relative to LME, or whose quote seems to lag several days behind a recent LME move, may be using stale pricing information — worth asking directly when they last checked current benchmark pricing.
How ScrapTrade Makes This Easier
ScrapTrade listings reflect live market context, which gives you a more current reference point for comparison than a price sheet that might not have been updated in days.
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