China Scrap Prices Hold Flat for Second Session During National Day Holiday
Chinese scrap metal benchmarks were unchanged across every major category on October 2, extending a market-wide pause for a second consecutive session. Copper, aluminum, brass/bronze, stainless steel and steel all held steady as China's National Day holiday kept domestic futures markets closed.
By Anil Mathews
Published October 5, 2026
Market data: October 2, 2026
Summary Points
- Copper: All listed grades were unchanged for a second consecutive session.
- Aluminum: No day-over-day movement across extrusions, wire, cast, UBC and other tracked grades.
- Brass/Bronze: Red Brass, Yellow Brass and Brass Radiator remained flat.
- Stainless Steel: Every listed grade held its previous-session benchmark.
- Steel: #1 HMS and Cast Iron Scrap remained unchanged.
- Holiday context: The Shanghai Futures Exchange is closed October 1–7 for China's National Day holiday and is scheduled to reopen October 8.
BEIJING (Scrap Monster): Chinese scrap metal buying benchmarks recorded no day-over-day movement on Friday, October 2, 2026, marking a second consecutive flat session on the ScrapMonster Price Index.
Copper, aluminum, brass/bronze, stainless steel and steel all maintained their previous-session levels.
The quiet physical benchmark session coincided with China's National Day holiday. The Shanghai Futures Exchange is closed from October 1 through October 7 and is scheduled to resume trading on October 8.
The holiday closure limits domestic exchange price discovery during the period, although the ScrapMonster Index data alone do not establish that the closure was the sole reason for the flat physical market.
| Metal | October 2 Move | Market Read |
|---|---|---|
| Copper | → Flat | Second straight unchanged session |
| Aluminum | → Flat | All listed grades unchanged |
| Brass/Bronze | → Flat | Red and Yellow Brass steady |
| Stainless Steel | → Flat | No movement across listed grades |
| Steel | → Flat | Recent stability continues |
SCRAPMONSTER EDGE
The important signal is the length of the pause. China entered October after a volatile September 30 session in which copper rose, aluminum and stainless fell, and brass moved higher. None of those directions extended on October 1 or October 2. With domestic futures markets closed for the National Day holiday, the next meaningful test will come when normal Chinese trading resumes.
Copper Scrap Prices
Copper scrap prices remained unchanged across all listed categories for a second consecutive session.
#1 Copper Bare Bright, #1 Copper Wire and Tubing and #2 Copper Wire and Tubing recorded no day-over-day movement.
#1 Insulated Copper Wire 85% Recovery and #2 Insulated Copper Wire 50% Recovery also held steady.
Copper Transformer Scrap and Cu Yokes maintained their previous-session benchmarks.
Cu/Al Radiators, Harness Wire 35% Recovery and Heater Cores recorded no variation.
Scrap Electric Motors and Sealed Units were also unchanged.
COPPER READ
The two-session pause follows a much more active September 30 market, when #1 Copper Bare Bright, #1 Copper Wire and Tubing and #2 Copper Wire and Tubing each gained CNY 300/MT. Those gains did not extend into either October 1 or October 2.
Aluminum Scrap Prices
Aluminum remained unchanged across all tracked grades.
6063 Extrusions and Aluminum Ingots held their previous-session benchmarks.
Aluminum Radiators and Aluminum Transformers recorded no movement.
E.C. Aluminum Wire, Old Cast and Old Sheet were unchanged.
UBC and Zorba 90% NF also remained flat.
The two-day stabilization followed September 30 declines of CNY 150/MT in 6063 Extrusions, Aluminum Ingots, E.C. Aluminum Wire, Old Cast and Old Sheet.
Brass/Bronze Scrap Prices
Brass and bronze scrap prices showed no variation.
Red Brass and Yellow Brass held steady for a second straight session.
Brass Radiator Scrap also remained unchanged.
The flat trend followed CNY 50/MT gains in Red Brass and Yellow Brass on September 30.
Stainless Steel Scrap Prices
Stainless steel remained stable across every listed grade.
201 SS, 304 SS Solid, 304 SS Turning and 309 SS recorded no movement.
310 SS and 316 SS Solid also maintained their previous-session benchmarks.
Shredded Stainless Steel remained unchanged.
The flat readings extended the stabilization that began October 1 following the September 30 decline, when several stainless grades fell CNY 50/MT and 310 SS dropped CNY 100/MT.
Steel Scrap Prices
Steel remained the most consistently stable major category.
#1 HMS and Cast Iron Scrap both recorded no change on October 2.
The same two grades had also remained unchanged during the preceding sessions, extending the recent flat trend in China's listed ferrous scrap benchmarks.
Two Straight Flat Sessions Follow September 30 Volatility
The October 2 session is best viewed as part of a broader consolidation rather than as an isolated quiet day.
On September 30, the Chinese scrap market had shown clear cross-metal divergence. Clean copper gained as much as CNY 300/MT, major aluminum grades fell as much as CNY 150/MT, selected stainless steel declined by CNY 50–100/MT and Red and Yellow Brass each gained CNY 50/MT.
Those directional moves stopped completely on October 1 and remained absent on October 2.
The result leaves the major metal categories effectively paused at their post-September 30 benchmarks as the Chinese market moves through the National Day holiday period.
Market Read
China's scrap market closed the week without establishing a new short-term direction.
Copper's late-September rebound has paused. Aluminum and stainless have stopped falling. Brass has stopped rising. Steel continues to show little day-to-day movement.
The National Day holiday adds an important piece of context because SHFE trading is suspended from October 1 through October 7, temporarily removing one of the principal domestic reference markets for base metals and steel.
The next more informative session is therefore likely to come after Chinese futures trading resumes on October 8, when processors and buyers will be able to assess how domestic benchmarks respond to metal-market moves that occurred internationally during the holiday closure.
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