04 May Chicago Scrap Metal Prices – Week of May 4, 2026
Copper is holding at strong levels heading into the first week of May, after a few weeks of back-and-forth tied to oil prices and global trade uncertainty. Aluminum is also performing well right now, with demand staying solid across most grades. If you’ve been sitting on a load in the Chicago area, this week is a good time to move it.
Copper Prices in Chicago This Week
This week, Central Metal Recycling is paying $4.90/lb for bare bright copper, $4.80/lb for #1 copper pipe, and $4.70/lb for #2 copper. Those are strong numbers by any measure. The Chicago copper market has been reacting to energy prices and international shipping costs over the last month, but it’s settled into a firm range right now. The broader market is recommending sellers act rather than wait – a sign that most traders think the current levels are worth taking.
Grade separation makes a big difference this week. Bare bright is getting you $0.20/lb more than #2, and that gap adds up fast on a larger load. If you’re a contractor pulling copper pipe, take a few minutes to separate your clean tubing from fittings and mixed material before you haul it in. Clean #1 pipe pays a lot better than a mixed bucket, and we can process it faster too. Insulated wire pricing depends on the type – call us at (773) 345-8610 and we’ll give you a quote based on what you’ve got.
Aluminum Prices This Week
Aluminum has been one of the stronger stories in the scrap market over the past few weeks, and this week is no exception. We’re paying $0.60/lb for sheet aluminum and $0.55/lb for aluminum cans. Demand out of manufacturing and the EV sector has been keeping aluminum prices elevated, and supply remains tight enough that the market hasn’t softened. Sort your grades before you come in – extrusion and sheet pay differently, and combining them into a single load typically means you get paid on the lower grade.
Steel and Iron Prices
Ferrous prices in Chicago are steady this week. We’re paying $270/NT for clean sheet steel, $235/NT for unprepared HMS, and $225/NT for sheet iron. The steel market has been quiet since the start of May – prices for the ferrous market should settle by the end of the week and our prices will adjust accordingly. That’s normal for ferrous. If you’ve got a full load of clean sheet ready to go, now is a fine time to bring it in and get paid.
What This Means for Chicago Scrappers
Copper and aluminum are both paying well this week – don’t wait around for a better market that may not come. Bring your load in clean, sorted by grade, and you’ll get the best price we can offer. Call ahead on large loads so we can get you in and out fast.
Bring your scrap to Central Metal Recycling at 5618 W. Fillmore St, Chicago, IL 60644. We’re open Mon-Fri 7am-4pm and Saturday 7am-11am. Call (773) 345-8610 for today’s exact rates.
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