Copper Prices Hit 18-Month High as Supply Tightens

Copper futures on the London Metal Exchange (LME) surged to $9,906 per tonne (£7,800 GBP | €9,126 EUR | A$15,210 AUD | C$12,560 CAD) this week, reaching their highest level in 18 months as supply disruptions at major Chilean mines continued to weigh on global inventories.

The price rally has been driven by a combination of factors: reduced output from the Escondida mine — the world’s largest copper producer — alongside growing demand from electric vehicle manufacturers and renewable energy infrastructure projects across Europe and Asia.

Impact on Pipe Prices

Retail copper pipe prices have risen approximately 8–12% over the past quarter in response to the LME move. Trade customers with fixed-price contracts are currently insulated, but merchants have signalled that price list updates are expected in May 2026.

Screwfix and Toolstation have both confirmed price increases of 6–9% on Type L and Type K copper pipe effective from 15 April 2026. Wholesale merchants including Wolseley and BSS Industrial are expected to follow with updated price lists in the same period.

Scrap Copper Prices

Scrap yard buying prices have tracked the LME closely. Bright Wire (No.1 grade) is currently trading at £6.63/kg ($8.42/kg USD | €7.80/kg EUR | A$13.01/kg AUD) at UK yards, up from £5.90/kg three months ago.

Source: London Metal Exchange (LME), Simvic UK, Wolseley price list. Prices correct as of 1 April 2026.