SCRAPMONSTER | MONTHLY SCRAP MARKET SCORECARD
October 2026 Scrap Market Scorecard: Steel Gains $10–$20/MT as Copper Falls 15¢/Lb
Steel scrap strengthened across North American benchmarks in October, while major clean copper grades lost 15¢/lb and E.C. Aluminum Wire slipped 4¢/lb. Stainless steel divided by grade; lead and zinc finished unchanged.
By Carolina Curiel | Market period: October 1–30, 2026
October at a Glance
Copper: Bare Bright and major wire and tubing grades ▼15¢/lb.
Aluminum: E.C. Wire and 5052 Scrap ▼4¢/lb; several common grades ▼2¢/lb.
Brass/Bronze: Red Brass, Yellow Brass and other principal grades ▼2¢/lb.
Stainless: 330 SS ▲3¢/lb, while 301 SS ▼2¢/lb.
Steel: #1 Bundle and #1 Busheling ▲$20/MT; #1 HMS and Shredded Auto Scrap ▲$15/MT.
Lead and Zinc: Selected North American buying benchmarks → unchanged at month-end.
MONTREAL (Scrap Monster): North American scrap markets ended October with a pronounced split. All seven tracked carbon-steel grades rose, while clean copper, most aluminum benchmarks and key brass grades closed below their September 30 levels. The month’s direction was far less uniform in stainless steel, where higher-alloy grades gained even as 301 and 304 weakened.
The month-end comparison uses matching ScrapMonster North American grade assessments from September 30 and October 30. It reflects quoted buying benchmarks, not transaction volumes or a volume-weighted scrap index.
A Divided Month: Historical Momentum
The monthly move only tells part of the story. #1 HMS gained 4.35% in October but remained unchanged over 13 weeks, while Bare Bright Copper lost 2.30% during the month and was still 27.20% higher year-over-year. All seven representative grades shown below finished above their corresponding year-earlier benchmarks.
| Representative grade | October | 13 weeks | Year over year |
|---|---|---|---|
| Bare Bright Copper | -2.30% | -0.62% | +27.20% |
| E.C. Aluminum Wire | -2.80% | -4.14% | +7.75% |
| Yellow Brass | -0.55% | +1.41% | +20.88% |
| 304 SS Solid | -1.47% | +3.08% | +8.06% |
| #1 HMS | +4.35% | 0.00% | +14.29% |
| Solid Lead | 0.00% | +4.00% | +11.43% |
| New Zinc Die Cast | 0.00% | +9.20% | +15.85% |
Representative individual-grade changes, not metal category averages. October compares September 30 with October 30; 13 weeks compares July 31 with October 30; annual comparison uses October 30, 2025 and 2026.
Exchange Benchmarks: September Close Versus October Close
Exchange prices are external commodity benchmarks, not ScrapMonster scrap buying prices. The LME readings below are dated three-month official offer quotations in USD per metric tonne; COMEX copper uses the same December 2026 contract at both month-end closes.
| Instrument / price basis | Sep. 30, 2026 | Oct. 30, 2026 | Change |
|---|---|---|---|
| COMEX December 2026 copper (HGZ6), historical close | $6.6215/lb Sep. 30 | $6.4820/lb Oct. 30 | −2.11% |
| LME three-month copper, offer | $14,455/MT | $14,250/MT | −1.42% |
| LME three-month aluminum, offer | $3,210/MT | $3,080/MT | −4.05% |
| LME three-month nickel, offer | $16,060/MT | $15,425/MT | −3.95% |
| LME three-month lead, offer | $1,890/MT | $1,920/MT | +1.59% |
| LME three-month zinc, offer | $3,842/MT | $3,890/MT | +1.25% |
Historical COMEX closes are not labeled as CME official settlements. Copper futures historical closes; CME copper contract specifications. LME three-month official offers are reproduced in dated September 30 and October 30 market tables; LME price definitions. Exchange instruments, unlike scrap grades, do not represent North American scrap buying quotations.
International ferrous benchmark snapshots
| LME M2 contract (Platts) | Oct. 1 quotation | Oct. 29 quotation |
|---|---|---|
| Steel Scrap CFR Turkey | $397.50/MT | $401.50/MT |
| Steel Rebar FOB Turkey | $610/MT | $600/MT |
These are two month-two contract snapshots published in ScrapMonster’s Weekly Reports, not a fixed-delivery-month September 30–October 30 return. They provide international ferrous market context only.
ScrapMonster Edge: October Was a Steel–Nonferrous Split, Not a Broad Rally
Ferrous gains stood out against weaker copper and aluminum scrap and an uneven stainless market. U.S. steelmaking activity and finished-steel pricing offered supportive background: AISI estimated 2.053 million net tons of raw steel output in the week ended October 31, while SteelPrices reported Nucor’s October hot-rolled coil price increase. Meanwhile, copper supply disruptions in Chile kept physical tightness in focus, even as exchange copper ended the month lower. These developments help explain the market setting, but none alone establishes the cause of an individual scrap adjustment.
Operator takeaway: Track the exact grade, month-end change and longer-term trend before treating a weekly rebound as a sustained recovery.
Copper: Clean Scrap Falls 15¢/Lb
On ScrapMonster’s Copper Scrap Price Index, #1 Copper Bare Bright, #1 and #2 Copper Wire and Tubing and #3 Light Copper each ended October 15¢/lb lower. Copper Radiators declined 9¢/lb, while #1 Insulated Copper Wire (85% Recovery) slipped 3¢/lb. Alternators, Starters, Scrap Electric Motors and Sealed Units moved the other way, each gaining 2¢/lb.
October’s largest late-month swing was especially visible in clean grades: a 20¢/lb recovery from October 22 to 29 was followed by a 14¢/lb decline on October 30. The reversal was documented in ScrapMonster’s October 23–29 Weekly Report and the October 30 Daily Report. October reporting on Chilean mine disruptions added evidence of supply risk, although the broader copper benchmark still finished the month lower.
Aluminum: Wire and Sheet Grades Remain Under Pressure
In the Aluminum Scrap Price Index, E.C. Aluminum Wire and 5052 Scrap each declined 4¢/lb. 6061 and 6063 Extrusions, Old Cast, Old Sheet, UBC and Zorba 90% NF dropped 2¢/lb; Aluminum Radiators lost 1¢/lb. Breakage 50% Recovery was an exception, rising 1¢/lb.
LME three-month aluminum fell 4.05% across September 30–October 30, providing a weaker primary-metal backdrop. ScrapMonster reported a 36.8% year-over-year increase in U.S. aluminum scrap imports for the first half of 2026. That trade statistic provides supply-chain context but does not isolate the drivers of the October grade-level declines.
Brass/Bronze: Principal Grades Ease 2¢/Lb
The Brass/Bronze Scrap Price Index recorded 2¢/lb declines for Red Brass, Yellow Brass, 70/30, 80/20 and 85/15 Brass Scrap, Brass Radiators and Rod Borings. Brass Radiators/Fe eased 1¢/lb; Brass Radiator Ends held steady.
The net movements were modest compared with clean copper, but the benchmark path was not flat through the month. Copper-alloy buying prices depend on composition and recovery as well as underlying copper and zinc markets; the October figures do not support a single category-wide pricing percentage.
Stainless Steel: Higher-Alloy Grades Outperform
Stainless prices separated by specification. The Stainless Steel Scrap Price Index showed 330 SS gaining 3¢/lb, 310 SS adding 2¢/lb and 309 SS and 316 SS Solid rising 1¢/lb. In contrast, 301 SS declined 2¢/lb; 304 SS Solid and 304 SS Turning each fell 1¢/lb. 201 SS finished unchanged.
LME three-month nickel lost 3.95% during the month, but that does not translate directly into a uniform stainless scrap adjustment. Different alloy content, recovery and buyer specifications help explain why individual stainless grades should be analyzed separately.
Steel: All Seven Tracked Ferrous Grades Rise
The Steel Scrap Price Index recorded gains across the month: #1 Bundle and #1 Busheling increased $20/MT; #1 HMS, Shredded Auto Scrap and Structural Steel added $15/MT; HMS 80/20 and Sheet Metal rose $10/MT. The main advances were visible in the October 16–22 Weekly Report; the closing week brought little additional movement.
Supporting industry indicators were firmer but not uniform. AISI’s October 31 weekly output estimate was 19.2% above a year earlier, and Nucor’s announced HRC spot price rose $15 per short ton for the week beginning October 19. Finished steel is quoted in short tons in that report; ScrapMonster’s ferrous scrap movements here are USD per metric tonne. One cannot infer a mechanical pass-through from steel selling prices into scrap buying prices.
Lead and Zinc: Stable Endpoints, Different Exchange Direction
In the Lead Scrap Price Index, Solid Lead, Soft Lead, Scrap Auto Batteries, Lead Wheel Weights and Range Lead ended October unchanged. The Zinc Scrap Price Index likewise showed no net change for New or Old Zinc Die Cast, even though both prices moved within October before returning to their September 30 levels.
LME three-month lead and zinc offer quotations finished higher by 1.59% and 1.25%, respectively. This contrast illustrates why exchange movements and the local buying-price series are best assessed as related but distinct markets.
Industrial and Global Market Context
The Institute for Supply Management reported the U.S. Manufacturing PMI at 55.5 in October, up from 54.5 in September. Separately, worldsteel’s September production release showed North American crude steel output 3.4% above a year earlier. These different reference periods point to manufacturing and steelmaking activity, not a proven cause for any specific October scrap-price movement.
In Canada, the Bank of Canada’s October Monetary Policy Report highlighted elevated energy and import-cost pressure and continuing trade uncertainty. For yards and processors, such factors can affect collection, transport and processing costs even where individual scrap buying benchmarks have not changed.
November 2026 Market Watch Calendar
The following scheduled U.S. releases and operational events will help frame November’s North American scrap-market activity. Release times are Eastern; dates may be revised by the issuing organizations.
| Date | Event to monitor | Why it matters |
|---|---|---|
| Nov. 10 | U.S. October CPI (8:30 a.m. ET) | Inflation and rate expectations can influence the dollar and exchange-traded metals. |
| Nov. 11 | U.S. Veterans Day | Confirm individual yard, freight, bank and exchange schedules. |
| Nov. 13 | U.S. October PPI (8:30 a.m. ET) | Factory input-price inflation and industrial-cost pressure. |
| Nov. 17 | U.S. October import/export price indexes (8:30 a.m. ET) | Trade-cost context for metals and manufacturing. |
| Nov. 20 | U.S. state employment report (10 a.m. ET) | Regional industrial employment and activity context. |
| Nov. 26 | U.S. Thanksgiving | Holiday trading, shipping and processing schedules may differ. |
| Throughout November | AISI weekly steel output; mill scrap buying; COMEX/LME benchmarks | Check whether ferrous gains persist and copper stabilizes after late-October reversals. |
Release schedule: U.S. Bureau of Labor Statistics, November 2026. Business and exchange trading calendars should be confirmed independently.
Conclusion: Stronger Steel Did Not Lift the Entire Scrap Market
October produced a meaningful improvement in ferrous scrap benchmarks but no comparable broad rally in nonferrous materials. Copper’s late rebound proved fragile, aluminum weakened across major grades, brass eased and stainless performance depended heavily on alloy grade. Lead and zinc ended unchanged even as their exchange counterparts rose.
For operators, the practical takeaway is to compare the same grade and date range, not just a headline metal direction. The next test is whether November mill procurement sustains steel’s advance and whether copper and aluminum scrap find a firmer footing.
Data and methodology: ScrapMonster North American buying benchmarks, September 30 versus October 30, 2026. Relative movements and price changes only; no absolute proprietary current or historical scrap prices. Grade-level results are not volume-weighted category averages. Historical 13-week and year-over-year comparisons use matching grades and dated benchmarks. Market quotations vary by quality, recovery, quantity and buyer terms. Exchange benchmarks use separately identified public instrument quotations.