METAL PRICESMetal price trends

Copper (LME, US$/t, monthly average)

The base of brass, phosphor bronze, beryllium copper and other copper alloys, as well as C1100 pure copper: C1100, C3604, C17200

Latest

14,474Sep 2026

vs 1 year ago

+45.0%

vs 5 years ago

+55.2%

High since 2016

14,474Sep 2026

Low since 2016

4,472Jan 2016

In a June 2026 blog post the World Bank pointed to mine disruptions holding back supply while demand from power grids, electric vehicles and data centres stays firm.

Aluminum (LME, US$/t, monthly average)

Primary metal for aluminum alloys such as A5052, A6061 and A7075: A5052, A6061, A7075

Latest

3,283Sep 2026

vs 1 year ago

+23.7%

vs 5 years ago

+15.8%

High since 2016

3,666May 2026

Low since 2016

1,460Apr 2020

The same post cited disrupted shipping from the Middle East conflict and slower supply growth under China’s output cap.

Nickel (LME, US$/t, monthly average)

Main alloying element of stainless steels (SUS304, SUS316 and others) and nickel alloys such as Alloy 718: SUS304, SUS316, Alloy 718

Latest

16,324Sep 2026

vs 1 year ago

+8.1%

vs 5 years ago

−15.8%

High since 2016

33,924Mar 2022

Low since 2016

8,299Feb 2016

The World Bank pointed to rising output in Indonesia, about 60% of world mine production, and only moderate demand.

Zinc (LME, US$/t, monthly average)

The other ingredient of brass, and the metal used in zinc plating and galvanizing: C3604, C2801

Latest

4,021Sep 2026

vs 1 year ago

+37.1%

vs 5 years ago

+32.4%

High since 2016

4,360Apr 2022

Low since 2016

1,520Jan 2016

The World Bank expects supply to rise slightly in 2026–27, with demand weaker than for the other base metals.

Titanium (import unit value, yen/kg)

Bar, plate, tube and other forms of pure titanium and titanium alloys: CP Grade 2, Ti-6Al-4V

Monthly　12-month average

12-mo average (latest)

15,931Aug 2026

vs 1 year ago

+16.5%

vs 5 years ago

+104.4%

High (12-mo avg)

16,032Jun 2026

There is no public market price for titanium, so this uses the unit value from Japan’s trade statistics — import value divided by import quantity (tariff code 8108.90-090: titanium products other than titanium–niobium alloys). Bar, plate, tube and wire are mixed together, so the monthly figure jumps around; read the 12-month average.

Steel scrap (export unit value, yen/kg)

A guide to how the price of the chips you sell is moving: the unit value of Japan’s exports, export value divided by quantity (Ministry of Finance trade statistics).

Turnings and stampings Heavy melting scrap Shredded scrap

Stainless steel scrap

• Turnings and stampings (statistical code 7204.41) include lathe and milling chips together with press stampings. Stainless scrap (7204.21) is not split by grade or form either.
• These are averages at the point of loading for export, after the scrap dealer has sorted, baled and transported the material — not the price a shop gets from a local dealer. Region, form (loose, baled, briquetted), oil and contamination, quantity and freight all change the real price. Use the charts to see which way prices are moving.
• The code for heavy melting scrap was split in January 2026 into “6 mm thick and over” and “other”; the two are combined to keep the series continuous.

Domestic Japanese scrap prices are published on these pages (they may not be reproduced, so links only): Kanto Tetsugen Cooperative (export tender prices), Japan Iron and Steel Recycling Institute (price tables), Tokyo Steel (domestic scrap purchase prices)

Cemented carbide tools and raw materials (trade unit values, yen/kg)

Cemented carbide is tungsten carbide powder bonded with cobalt. Below are trade unit values for inserts and for the raw materials tungsten and cobalt (Japan’s trade statistics, value ÷ quantity).

Carbide and cermet inserts

Carbide/cermet inserts (export) Carbide/cermet inserts (import) Plates, rods and blanks (export)

Raw materials: tungsten and cobalt

Tungstates incl. APT (import) Unwrought tungsten (import) Cobalt (import)

World prices (USGS annual averages)

2025 values are estimates. Tungsten is the U.S. spot price up to 2020 and the Rotterdam price from 2021, so the basis changes mid-series (USGS publishes prices from Platts, Argus and other price reporting agencies).

• According to the U.S. Geological Survey (February 2026), the U.S. raised tariffs on some Chinese tungsten products at the end of 2024 and China began export controls on some tungsten items in February 2025, and tungsten prices rose sharply through 2025. The Rotterdam APT price went from US$331 to US$675 per mtu during 2025.
• The same source says about 60% of the tungsten used in the U.S. goes into cemented carbide parts for cutting and wear applications.
• For cobalt, the Democratic Republic of the Congo — about 70% of world mine output — suspended exports in February 2025 and moved to export quotas from October (USGS).
• Import unit values are in yen and include exchange-rate moves. The cobalt code (8105.20) also covers intermediates for battery materials. Insert unit values also shift with the product mix. Some months see only a few tonnes of raw material imported, and the unit value jumps in those months.

Tool maker price increases (announcements)

Summary of the announcement date, effective date and rate given in each company’s news release (the company’s selling price, not dealer prices). Only those found are listed; this is not an industry-wide list. See also our article on carbide tool price increases.

High-speed steel and raw materials (trade unit values, yen/kg)

HSS is a tool steel rich in tungsten, molybdenum, vanadium and chromium. Below are export unit values for HSS bar and strip and import unit values for the ferroalloys used to make it. For the material itself see SKH51.

HSS bar and strip

HSS bar (export) HSS strip and sheet (export)

Raw materials: ferrotungsten, ferromolybdenum, ferrovanadium

Ferrotungsten (import) Ferromolybdenum (import) Ferrovanadium (import)

• According to the U.S. Geological Survey (February 2026), China began export controls on molybdenum powder in February 2025, and the 2025 average U.S. molybdic oxide price was 7% higher than the year before.
• The 2025 average vanadium pentoxide price was lower than the year before; the same source explains that vanadium follows the steel industry, especially in China.
• HSS export unit values also shift with the mix of grades (SKH51, powder HSS and others) and forms. W-type and Mo-type grades use different proportions, so which raw material matters depends on the grade.