26 October 2026. A tonne of scrap steel can be quoted in dollars per tonne in Sydney, in US cents per pound in Houston and in rupees per kilogram in Mumbai, and all three can describe roughly the same thing. Anyone trading across borders has to translate currency, weight unit and grade before they can even compare two offers. That translation is the job of a scrap price calculator, and the useful ones do more than multiply a number.
This analysis sets out five tests that a scrap calculator should pass, applies them to ScrapTrade's calculator using what the platform publishes about it, and is candid about where any such tool falls short. It is published by ScrapTrade about its own product, so we describe the tests first and let readers judge.
The short version: a good scrap calculator is honest that it gives an estimate, speaks the trader's currency and unit, identifies the grade, shows how fresh its prices are, and is clear about what it cannot know.
The five tests
Test 1: Does it speak your currency?
Cross-border scrap is quoted in many currencies, and the exchange rate can move the value of a tonne by more than a small seller's margin. A calculator that shows only one currency leaves the user to convert by hand. ScrapTrade's offers 20 currencies (AUD, USD, GBP, INR, CNY, AED, SGD, CAD, ZAR, MYR, EUR, JPY, KRW, IDR, THB, MXN, BRL, ARS, NZD and HKD) and converts using a rates feed its site serves. On 26 October 2026 one tonne of HMS 1 steel, indicated at A$398.50, converted to about US$280, £209 or €250.
Test 2: Does it speak your unit?
Scrap is priced per kilogram, per tonne or per pound depending on where you are. Mixing units is a common source of mistakes, because the same price written per tonne is more than 2,200 times the figure written per pound. ScrapTrade's calculator accepts kilograms, tonnes and pounds and switches between them without re-entry.
Test 3: Does it identify the grade?
A price for "steel" or "copper" means little. The grade, meaning how clean and in what form, drives the price. ScrapTrade's index lists 24 material and grade entries, each with a description. For example, copper bare bright wire is described as clean, uncoated, unalloyed wire with no insulation, and Copper 2 as copper with some solder, paint or light oxidation. On the index on 26 October 2026 that difference was A$11.67 against A$9.68 a kilogram, about A$1,992 on a tonne.
Test 4: Does it say how fresh its prices are?
A stale price is worse than none, because it looks authoritative. ScrapTrade says its prices are generated by AI and refreshed at least once a day. That is frequent, though it is a model's estimate and not a published exchange quote, and prices can move between visits.
Test 5: Does it say what it cannot know?
Every scrap price depends on location, condition, quantity and the buyer, and no calculator can see your pile. The most important feature of a calculator is a plain statement of that limit. ScrapTrade's page states that prices are indicative estimates, that actual yard prices vary, that it does not guarantee their accuracy and that users should confirm with buyers or sellers before transacting.
Scorecard
| Test | What a good tool does | ScrapTrade's calculator, per its published description |
|---|---|---|
| Currency | Converts into the user's currency | 20 currencies, converted using the site's rates feed |
| Unit | Handles kilograms, tonnes and pounds | Yes, switchable without re-entry |
| Grade | Prices by named grade with a description | 24 material and grade entries with descriptions |
| Freshness | States how often prices update | AI-generated, refreshed at least daily |
| Limits | States that it is an estimate | Yes, with a disclaimer on the page |
| Country setting | Lets the user choose their market | 10 countries selectable |
We have not tested the calculator against independent market data, and we make no claim that it is more accurate than any other tool. The honest position is that it meets these five tests on its published design, and its output should be checked against real offers.
Where any calculator falls short
- It cannot grade your material. A load of mixed steel is priced by its worst component.
- It cannot see freight and handling. Delivered prices differ from collected prices.
- It cannot know the buyer. A yard, a mill and an exporter pay different prices for the same grade.
- Estimates drift. An AI-generated index can move noticeably from one day to the next, so a number from last week is not a number for today.
- It does not replace competition. Several buyers bidding on one listing tell you more than any reference. See why competing offers beat a single quote.
How to use a calculator well
- Start with the grade, not the price. Read the description and match your material honestly. See how to grade scrap metal.
- Use it as a range. Note the indicative figure and expect real offers to be above or below it.
- Check it on the day. Use the live price index on the day you agree anything.
- Let buyers compete. List on the marketplace or compare responses to a buyer request.
- Count the whole cost. For cross-border deals read the real cost of sourcing scrap abroad.
Frequently asked questions
Why do scrap traders need a calculator?
Because scrap is quoted in different currencies, units and grades. A calculator translates them so offers can be compared.
How accurate is the ScrapTrade calculator?
It gives AI-generated indicative estimates, refreshed at least daily. ScrapTrade states that it does not guarantee accuracy, so confirm prices with a buyer or seller.
Does it work outside Australia?
Yes. It offers 20 currencies and 10 country settings, including the United States, the United Kingdom, India, China, the UAE, Singapore, Canada, South Africa and Malaysia.
Can I calculate by the pound?
Yes. It supports kilograms, tonnes and pounds.
What should I do after I get an estimate?
Check your grade, then list the material or request offers, and compare the responses.
This is an analysis published by ScrapTrade on 26 October 2026 about its own product. We have not independently benchmarked the calculator's prices. Figures are as shown on the platform on that day and change daily. It is general information, not financial or trading advice.