11 May Scrap Metal Prices Chicago – Updated May 11, 2026
Copper had a strong run last week – Bare Bright and wire grades gained roughly $0.18/lb on the North American index through mid-week before easing off by Friday. Aluminum came in softer, with most grades down under 1% week-over-week. Steel is flat and likely stays that way until June pricing is set. If you have copper to move, this week is worth the trip to Chicago.
Copper Prices in Chicago This Week
Bare Bright is running $3.60-$3.85/lb at Chicago-area yards this week, reflecting the momentum from last week’s index gains. #1 copper – clean pipe with no fittings or heavy corrosion – is in the $3.25-$3.50/lb range. #2 copper, which covers pipe with solder, fittings, or light oxidation, is coming in at $2.85-$3.10/lb. The driver behind last week’s move was a mix of trade-related demand and buyers restocking after a slow April. Whether that holds through the rest of May is hard to call, but prices are solid right now.
If you’re bringing in copper wire, stripping it makes a real difference. Clean bare bright with no insulation, solder, or plating gets the top price. Insulated Romex or mixed wire drops to a much lower category – sometimes under $1.00/lb depending on the copper percentage inside. Copper pipe comes in as #1 or #2 depending on how clean it is. Sort what you can before you come in. It only takes a few minutes and it puts more money in your pocket at the scale.
Aluminum Prices This Week
Aluminum is softer this week after a modest decline across most grades – down around 0.9% from last week on the index. Chicago yards are paying $0.40-$0.55/lb for extrusion and cast aluminum, with cans running $0.50-$0.65/lb. Rims and sheet aluminum fall in a similar range depending on cleanliness and mix. No big moves expected this week – the market looks balanced on both the supply and demand side.
Steel and Iron Prices
Ferrous is flat, as expected mid-month. Light iron and appliances are running $180-$225 per net ton at Chicago yards, with heavy melt and HMS in the $225-$270/NT range. P&S steel is near the top at $270-$280/NT for clean loads. These prices were set at the start of May and aren’t likely to move until June. If you’ve got a load of sheet iron or appliances ready to go, the math is the same as last week.
What This Means for Chicago Scrappers
Copper is the metal to prioritize right now – prices are solid and the market can shift either direction any day. If you’re holding aluminum, no rush, but don’t count on a big jump anytime soon.
Bring your scrap to Central Metal Recycling at 5618 W. Fillmore St. We’re open Mon-Fri 7am-4pm and Saturday 7am-11am. Call (773) 345-8610 for today’s exact rates.
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