Scrap Car Prices 2026: London Market Rates by Month
If you're thinking about scrapping a car in 2026, you're probably wondering whether now is a good time. The honest answer is that scrap car prices have been reasonably stable in early 2026, following the volatility of recent years — but several factors could push them in either direction through the year.
Where Scrap Prices Stand in Early 2026
Current scrap steel prices in the UK are sitting in the range of £120-£180 per tonne, depending on grade and location. For a typical family car (1.2-1.5 tonnes of mixed metals), this translates to a base metal value of roughly £150-£270 before any parts value is factored in.
Aluminium-heavy vehicles — particularly newer premium models — command higher prices because aluminium scrap is worth significantly more than steel, currently around £900-£1,100 per tonne.
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What's Driving Prices in 2026
Global Steel Demand
Global steel demand, particularly from Chinese manufacturing, remains the single biggest driver of UK scrap prices. When Chinese steel mills are buying, UK scrap prices rise. When they pull back, prices soften. Early 2026 has seen moderate demand, keeping prices stable rather than spectacular.
The Used Car Market
Used car values have softened from the pandemic-era highs of 2021-2023. This affects the parts market: when used car prices are high, salvage components are worth more. As the market normalises, the premium for parts over pure scrap value has reduced for many vehicle types.
EV Impact on Scrap
The transition to electric vehicles is beginning to affect the scrap market in interesting ways. As more petrol and diesel vehicles become end-of-life, the supply of ICE vehicles for scrap is increasing. At the same time, EV-specific components (battery packs, inverters, motors) are creating new salvage value categories that the industry is still pricing.
Catalytic Converter Prices
Platinum group metal (PGM) prices — the metals inside catalytic converters — remain elevated but have come off the extreme highs of 2021. Palladium, which was briefly worth more than gold, has retreated significantly. Platinum has held up better. Rhodium remains highly volatile.
The practical impact: a catalytic converter in good condition is still worth a meaningful premium. A missing catalytic converter (a major issue in London due to theft) will reduce your scrap car's value by £100-£400 depending on the vehicle.
When Is the Best Time to Scrap?
Market timing for scrap cars is a fool's errand for most people. The difference between a 'good' and 'bad' scrap price window is typically £20-£50 on an average car — not enough to justify waiting months for the right moment.
- –If your car is costing you money in insurance, storage, or failed repairs — scrap it now.
- –If you have a car with particular parts value (rare model, low mileage), consider getting a salvage assessment rather than straight scrap.
- –If the only reason you're waiting is price, get a quote today and compare against what you'd get in three months. The difference is usually marginal.
