Our Price Methodology

1. Data Sourcing

Scrapprice does not set market prices. Our system serves as a transparent benchmark directory. We pull price data multiple times a day from verified wholesale commodity hubs:

• **Global Exchanges**: Price trends for base metals (Copper, Aluminium, Nickel, Zinc, Lead) are tied to international price indices like the London Metal Exchange (LME).
• **National Wholesalers**: We cross-reference rates with national metal smelting centers, recycling plants, and MCX (Multi Commodity Exchange of India) spot prices.
• **Local Smelting & Yard Audits**: Our scraper script processes active retail price lists published by verified buyers in major industrial cities (Rajkot, Ahmedabad, Surat).

2. Index Compilation & Averaging

To prevent individual dealers or spikes from skewing regional averages, our background synchronizer applies statistical aggregation:

• **Outlier Filtering**: Extreme high and low price quotes are removed automatically.
• **Weighting**: Averages are weighted by the volume capacity of partners to accurately reflect liquid local rates.

3. Disclaimer on Purity and Grading

All scrap rate quotations correspond to average industry grade benchmarks (e.g., Clean Bare Bright Copper, Cast Iron Grade). Final transaction values are finalized by the buying yard based on visual inspection, purity testing (magnetic/acid tests), and moisture scales.

For questions or data partnership requests, email data@scrapprice.in.