Copper Prices in Zambia
Updated March 2026 · Mining & Resources Guide
Copper is the backbone of the Zambian economy. Whether you are tracking the LME spot price for cathodes, procuring raw ore/concentrates for processing, or trading scrap copper wire (Millberry), understanding the complex pricing structure is critical.
Current Copper Prices (2026 Estimates)
| Copper Grade / Type | Estimated Price Range | Market Notes |
|---|---|---|
| LME Spot Price (99.99% Grade A) | $11,500 – $13,500/MT | Global benchmark price per Metric Tonne (2026) |
| Blister Copper (98-99% Purity) | $11,000 – $12,500/MT | Factory gate price from local smelters |
| Copper Cathodes (Local Trade) | $11,200 – $13,000/MT | Highly processed, ready for export |
| Raw Copper Ore (5% - 15% Cu) | $500 – $1,800/MT | Price depends strictly on assay certificate (grade) |
| Copper Concentrates (20% - 30% Cu) | $2,000 – $3,800/MT | Post-flotation processing |
| Scrap Copper Wire (Millberry) | ZMK 180 – 240/Kg | Local scrap dealers (Grade 1/Clean) |
| Heavy Scrap Copper (Berry) | ZMK 150 – 210/Kg | Pipes, thick wires, unalloyed |
*Disclaimer: Ore and concentrate prices are highly volatile and strictly dependent on laboratory assay reports verifying the Cu %. Global LME prices fluctuate daily.
How is Raw Copper Ore Priced in Zambia?
Unlike retail products, you do not simply buy a "truck of copper ore" for a fixed price. The transaction relies completely on the grade (purity percentage) determined by an independent laboratory assay (such as SGS or Alfred H Knight).
- Low Grade (1% - 3%): Hardly worth transporting long distances. Usually processed on-site.
- Medium Grade (4% - 10%): Traded locally between small-scale miners and regional processing plants.
- High Grade (15%+): Highly sought after, commanding premium prices linked directly to the LME formula.
The buyer will take the current LME price, multiply it by the ore's copper percentage, and then subtract the Treatment Charges (TC), Refining Charges (RC), transport penalties, and moisture content deductions to arrive at the final payable amount per Wet Metric Tonne (WMT).
Frequently Asked Questions
How is the copper price determined in Zambia?
As a major global producer, Zambia’s copper price is heavily pegged to the London Metal Exchange (LME) spot price, which surged past $12,000/MT in 2026. Local prices for raw ore and concentrates are calculated using the LME price minus treatment and refining charges (TC/RCs), adjusted for the exact percentage of copper purity.
Can an individual buy and sell copper in Zambia?
Yes, but trading in copper ore, concentrates, or cathodes requires a valid mineral trading permit from the Ministry of Mines and Minerals Development. Selling scrap copper locally to recycling plants is easier but still regulated to prevent vandalism (e.g., stealing ZESCO cables).
Where are the main copper trading hubs in Zambia?
The primary hubs are situated in the Copperbelt Province (Kitwe, Ndola, Chingola) and the North-Western Province (Solwezi, Lumwana). Large smelters and refineries are located in these areas.
What is the price of 1kg of scrap copper in Zambia?
Clean, stripped scrap copper wire (often called Millberry) sells for around ZMK 180 to ZMK 240 per Kg at local scrapyards, tracking the high 2026 global prices. Mixed or heavily oxidized copper scrap fetches slightly lower prices, usually between ZMK 140 and ZMK 170 per Kg.
What taxes apply to copper exports from Zambia?
Mineral royalty taxes are levied on all copper extracted. Currently, the royalty tax is a sliding scale between 4% and 10% based on the LME copper price. Exporting unprocessed copper ore incurs a 15% export duty to encourage local processing and value addition.