The London Metal Exchange is the world’s primary marketplace for trading industrial metals including copper, aluminium, zinc, lead, nickel, and tin. LME prices are quoted in US dollars per tonne and serve as the global benchmark that scrap yards, traders, and smelters use to set their buying and selling prices. When you hear that “copper is up” or “aluminium dropped overnight,” those movements are happening on the LME. In New Zealand, scrap metal prices are derived from LME rates, adjusted for the NZD/USD exchange rate, shipping costs, and local supply and demand. This is why your scrap value can change from day to day. At endless metals, our Auckland pricing reflects live LME movements.