Almost every world metal price you will read is in US dollars per tonne. Almost every scrap deal you will do is in your own currency, per kilogram or per tonne. The conversion is simple, but a surprising number of quotes go wrong because of one small slip: the wrong unit, the wrong date, or the wrong direction of the exchange rate. This guide gives the formula, a worked example with real benchmark figures, the pitfalls to avoid, and what the result does and does not tell you about the price you will be paid. It is general information, not trading advice.
The formula
Start with a benchmark in US dollars per metric tonne. Convert to your currency using an exchange rate, then divide by 1,000 to get a price per kilogram.
The step that causes most errors is the direction of the exchange rate. Check how your rate is quoted:
- If the rate is quoted as US dollars per one unit of your currency (for example, 0.7053 US dollars per Australian dollar): price per kg = (US dollars per tonne ÷ rate) ÷ 1,000.
- If the rate is quoted as units of your currency per one US dollar (for example, a rate shown as "83 per US dollar"): price per kg = (US dollars per tonne × rate) ÷ 1,000.
A quick sanity check: your currency will almost always give a bigger number than the US dollar figure if it is worth less than a dollar, and a smaller number if it is worth more.
A worked example
On 29 October 2026 the London Metal Exchange official cash settlement price for copper was US$14,560 per tonne, as published by Westmetall. The Reserve Bank of Australia rate that day was US$0.7053 per Australian dollar.
- Copper: 14,560 ÷ 0.7053 = A$20,643 per tonne, which is A$20.64 per kg.
- Aluminium, at US$3,071 per tonne: 3,071 ÷ 0.7053 = A$4,354 per tonne, which is A$4.35 per kg.
For a currency quoted the other way, here is a hypothetical rate, not a quote: 40 units of your currency per US dollar. Copper would be 14,560 × 40 = 582,400 per tonne, which is 582.40 per kg. Replace 40 with the rate your bank or central bank publishes on the day.
We publish a full table for six metals in Australian dollars, with the working, in Scrap Metal Benchmark Prices in A$ per kg. It is dated 29 October 2026 and is refreshed by hand, so check the date before you rely on it.
Pitfalls
- Units. The London Metal Exchange quotes per metric tonne, which is 1,000 kg. Some other markets quote in US cents per pound. To turn US cents per pound into US dollars per tonne, multiply by 22.0462. A price of 100 cents per pound is US$2,204.62 per tonne. For tonne definitions, see Tonnes, Gross Tons and Short Tons in Scrap.
- Dates. A price and an exchange rate must be from the same day. A rate that is a week old can move your result noticeably.
- Rate type. Central bank reference rates are not the rates a bank gives you when you actually move money. Buying and selling rates differ.
- Which benchmark. Different exchanges publish different benchmarks, and they are not identical. Say which one your quote uses. We explain how benchmarks work in How Scrap Prices Are Set.
- Rounding. Round at the end, not at each step.
What the result tells you, and what it does not
A converted benchmark is the price of the refined metal on a given day, in your currency. It is not the price you will be paid for scrap. Scrap is paid at a share of the benchmark that depends on the grade, how clean it is, the quantity, where it is, and who is buying. We do not have a general figure for that share, and it varies a great deal, so treat the converted price as a ceiling and a reference, not a quote. The share is something to agree with the buyer for your grade and quantity.
A simple checklist
- Write down the benchmark, the exchange, the date and the unit.
- Find the exchange rate for the same day and check which way it is quoted.
- Apply the formula and round once, at the end.
- Label the result as a benchmark conversion, not a scrap price.
- Ask the buyer what share of the benchmark they pay for your grade, and when.
Where ScrapTrade fits
ScrapTrade has a scrap calculator that does this kind of conversion across currencies, described in How the ScrapTrade Scrap Calculator Works. On the marketplace, sellers list scrap, buyers compare offers and negotiate. scrap.trade describes itself as a global marketplace, and we cannot confirm availability in every country or that your country's law allows a particular deal, so check your own rules. Create a free account to see what is listed. ScrapTrade has a commercial interest in the scrap trade.
What we could not verify
- Exchange rates for any currency other than the Australian dollar. We used one published rate for the example. Use your own.
- The share of the benchmark that scrap earns for any grade or country.
- Later prices. The figures are for 29 October 2026 and will have changed.
Step-by-step guides
Practical how-to guides on ScrapTrade:
You can also go to the ScrapTrade home page, the marketplace or the live prices and calculator.
Frequently asked questions
How do I convert a metal price in US dollars per tonne to my currency per kg?
Convert to your currency with the exchange rate, then divide by 1,000. If your rate is quoted as US dollars per unit of your currency, divide by the rate. If it is quoted as units of your currency per US dollar, multiply by the rate.
Why is the London Metal Exchange price higher than what a scrap yard pays?
The benchmark is for refined metal. Scrap is bought at a share of it that depends on grade, cleanliness, quantity, location and the buyer.
How do I convert US cents per pound to US dollars per tonne?
Multiply by 22.0462.
Sources
- Westmetall, London Metal Exchange official cash settlement prices, 29 October 2026.
- Reserve Bank of Australia, exchange rates, 29 October 2026, US$0.7053 per Australian dollar.
The example uses published figures for one day. The 40-per-dollar rate is hypothetical. This is general information, not trading or financial advice. ScrapTrade operates a scrap marketplace and has a commercial interest in the scrap trade.