The Weighbridge | No.002
weekly market intelligence data – 1 September 2026
Aluminium rises. Copper holds near record highs.
Aluminium moved higher through the week, reaching around US$3,380/t, while copper held close to its record at US$14,535/t. Lead continued to grind higher, while steel remained steady around US$378/t.
NZD/USD
0.5959
▲ +1.4%
Firmed to a 9 week high
US$378/t
● +US$1/t
Steady
US$14,535
▲ +1.7%
Fresh record
US$3,380
▲ +1.6%
Catching up with coppers moves
US$16,900
▲ +0.4%
Small bounce from last week
US$1,920
▲+0.6%
Continuing to grind higher
The Big Picture
Aluminium moved back above US$3,300/t, gaining around 1.6% over the week and closing in on its Q2 average. Copper continued to hold near record territory at US$14,535/t, up around 1.7% on the week.
Lead continued its gradual recovery, reaching around US$1,920/t, while nickel edged higher to around
US$16,900/t. Steel remained steady at approximately US$378/t, holding July’s step-up for a third consecutive week.The NZ dollar strengthened to around 0.596, reducing the NZD value of USD-priced metals. The stronger currency is offsetting some of the gains in global metal prices, but copper and aluminium remain the strongest stories for sellers.
Aluminium gains ground, copper holds strong, and the NZ dollar stays firm.
What this Means for Your Scrap
Strong aluminium and copper prices continue to support scrap values, although the stronger New Zealand dollar is taking some of the edge off global gains.
Steel is holding its recent gains at the weighbridge, with HMS remaining around US$376–378/t. Remember, whiteware is scrap too – old fridges and washing machines are welcome alongside the rest.
Aluminium is catching up. With the LME price back above US$3,300/t, clean extrusion, cast aluminium and cans are all worth paying attention to.
Brass continues to follow copper’s lead, with clean brass and gunmetal remaining strong despite the firmer New Zealand dollar.
Copper remains exceptionally strong. It may no longer be making a new record every few days, but at US$14,535/t it is still close to its all-time high. Copper, cable, wire and cylinders continue to show excellent value.
Stainless is showing signs of stabilising after nickel’s recent weakness. 304 and 316 remain the grades to watch as the nickel market finds its floor.
Lead continues to grind higher, giving batteries a modest positive tailwind. Every battery still counts.
Check before you visit! Use our online calculator anytime to check prevailing prices
KEY DRIVERS & WHAT TO WATCH
The global metal market doesn’t move for just one reason, these are some of the key factors we’re watching…
Aluminium is catching up. The move back above US$3,300/t reflects stronger momentum across the broader non-ferrous market, with aluminium now closing in on its Q2 average.
Copper’s squeeze story is evolving. The sharp LME stock drawdowns seen earlier in August have eased as inventories rebuild. The market is still being shaped by the flow of copper into the US ahead of potential future tariffs, keeping material outside the US relatively tight.
Lead continues its slow recovery. Lead has been grinding higher from July’s multi-year lows rather than making a dramatic move, but the direction has remained consistently positive.
Nickel is finding a floor. Indonesian production policy remains the key variable, with the market watching closely for any changes to 2026 mining quotas.
The NZ dollar is taking some of the gain away. A stronger NZD means international metal gains are worth slightly less when converted back into New Zealand dollars – making the underlying strength in aluminium and copper particularly important for local sellers.
What's Happening at Endless...
Endless hits Strong Parts
Good customers deserve more than a thank you.
Recently, the Endless Pie Van rolled into Strong Parts Group, Onehunga, as part of our customer loyalty initiative.
Strong Parts is a great example of the businesses we love working with — busy, practical, hardworking and always keeping things moving.
So, rather than just saying thanks, we brought lunch.
Because for us, customer loyalty isn’t just about business. It’s about building relationships, showing appreciation and taking the time to say, “We value having you in the Endless family.”
A big thank you to the team at Strong Parts Group for having us.
We’ll bring the pies. You bring the scrap. We’ll call it even.
That’s the Endless way.
