North American Scrap Prices Diverge as Aluminum, Zinc and 201 SS Rise; Steel Holds Flat

Selected copper grades gained about 0.46%–0.48%, E.C. Aluminum Wire advanced 2.05% and zinc die-cast grades rose more than 1%, while 201 SS jumped 5.26%. Brass/bronze, lead and major steel grades were unchanged.

By Carolina Curiel
Published September 4, 2026

MONTREAL (Scrap Monster): North American scrap metal prices showed a mixed performance during the week of August 28–September 3, 2026, with gains in several copper, aluminum, zinc and stainless steel grades offset by stable brass/bronze, lead and ferrous scrap markets.

The latest weekly assessment from the Scrap Monster Price Index showed particularly strong movement in 201 stainless steel and E.C. Aluminum Wire, while the principal steel scrap benchmarks remained unchanged across the reporting period.

Copper performance varied by grade. #3 Copper – Light Copper recorded a 0.48% weekly increase, while several major clean grades also moved higher. Other copper categories, including Heater Cores and Cu Yokes, weakened over the period.

Aluminum moved broadly higher. Aluminum Radiators, Aluminum Radiators/Fe, Breakage 50% Recovery, Al/Cu Radiators, Al/Cu Radiators/Fe and Aluminum Transformers were unchanged, while the remaining tracked grades advanced.

Brass/bronze and lead remained stable, while zinc scrap moved higher. Stainless steel was also largely unchanged apart from a 5.26% increase in 201 SS.

Non-Ferrous Scrap Shows Divergent Weekly Gains

International benchmark markets continued to provide an important reference for North American non-ferrous scrap pricing, although domestic material availability and buying conditions produced different results by grade.

Copper Scrap Prices

• COMEX Copper Futures closed at USD 6.6748 per pound on September 3, 2026, up approximately 2 cents, or 0.24%, from the previous week.
• The London Metal Exchange (LME) copper three-month contract closed at $14,333.50 per tonne.

North American copper scrap prices moved higher across several key grades. #1 Copper Wire and Tubing and #2 Copper Wire and Tubing each gained 0.47%, while #1 Copper Bare Bright advanced 0.46%. #3 Copper – Light Copper recorded a slightly stronger weekly increase of 0.48%.

East Coast and West Coast markets showed the same $0.03-per-pound gains in the three highlighted clean copper grades. Midwest prices also strengthened, with the principal wire and tubing grades recording similar weekly increases.

Internationally, Chinese copper scrap prices declined approximately 0.33% over the reporting period, while Indian copper scrap prices fell approximately 1.10%. Copper Sheet Cutting posted the strongest reported Indian decline, down INR 14,000 per tonne, or 1.48%.

Aluminum Scrap Prices

• Aluminum futures closed at USD 3,319.50 per metric ton on September 3, up $74.05, or 2.28%, from the previous week's close.
• The LME aluminum three-month contract closed at $3,311.50 per tonne.

North American aluminum scrap prices advanced across most monitored grades. E.C. Aluminum Wire recorded the strongest highlighted move, rising 2.05%. 6063 Extrusions gained 0.97%, Old Cast rose 1.12% and UBC advanced 1.11%.

Regional pricing was broadly consistent, although percentage changes varied slightly by location because of differences in starting price levels. Chinese aluminum scrap prices rose approximately 1.79% during the week, while Indian aluminum scrap prices increased approximately 1.18%.

Brass/Bronze, Lead and Zinc

North American brass and bronze scrap prices remained unchanged during the week. Red Brass and Yellow Brass were flat across the principal U.S. regional assessments. Chinese brass/bronze prices declined approximately 0.36%, while Indian prices fell approximately 0.43%.

The lead scrap market was also unchanged. Scrap Auto Batteries held at the previous week's levels across East Coast, Midwest and West Coast assessments. The LME lead three-month contract closed at $1,903.50 per metric tonne.

Zinc moved higher. New Zinc Die Cast gained 1.09% and Old Zinc Die Cast advanced 1.18% week over week.

Ferrous Scrap Holds Flat as U.S. Steel Output Eases

North American ferrous scrap prices were unchanged across the principal benchmark grades, including #1 HMS, Shredded Auto Scrap, HMS 80/20 and #1 Busheling.

London Metal Exchange steel contracts were also stable at the end of the reporting period. Steel Scrap CFR Turkey was quoted at $394.00 per tonne, Steel Rebar FOB Turkey at $596.00 per tonne and Steel Scrap CFR India at $390.00 per tonne.

American Iron and Steel Institute data showed U.S. raw steel production at 1.818 million net tons for the week ended August 29, 2026, down 1.6% from the previous week but up 3.1% from the comparable 2025 period. Capability utilization declined to 78.7% from 80.0% one week earlier.

Regional output totaled 135,000 net tons in the Northeast, 476,000 in the Great Lakes, 300,000 in the Midwest, 839,000 in the South and 67,000 in the West.

201 SS Leads Stainless Market With 5.26% Gain

Stainless steel scrap was largely unchanged during the reporting period. 201 SS was the exception, rising 5.26% week over week and recording the strongest highlighted percentage increase among North American grades in the report.

304 SS Solid remained flat, as did the other principal stainless grades tracked in the weekly comparison.

Chinese stainless steel scrap prices moved in the opposite direction, posting a broad weekly increase of approximately 0.88% across the listed grades.

Regional Divergence Persists Across Global Scrap Markets

• Copper: Selected U.S. grades rose approximately 0.23%–0.48%, while China declined 0.33% and India fell 1.10%.
• Aluminum: North American prices advanced, led by E.C. Aluminum Wire at 2.05%; China rose approximately 1.79% and India 1.18%.
• Steel: Major U.S. and Chinese steel scrap benchmarks were flat.
• Stainless steel: Most U.S. grades were flat except 201 SS, while Chinese stainless steel scrap gained approximately 0.88%.

“These weather swings can quickly slow scrap flows and create transportation challenges across the region.” — Jim Schulte, Joliet Yard Manager and Director of Ferrous Processing at BL Duke

Ferrous Outlook Remains Range-Bound as Global Overcapacity Limits Upside

Near-term ferrous scrap conditions remain broadly balanced. Stable mill procurement and adequate material availability continue to limit significant upward or downward movement, although changes in operating rates or restocking activity could alter buying competition during upcoming procurement cycles.

Electric arc furnace steelmaking continues to provide an underlying demand base for ferrous scrap, while stronger finished-steel pricing could improve mills' ability to absorb higher metallic input costs if those conditions persist.

The broader global steel environment remains a constraint. The OECD Steel Outlook 2026 projects global steel demand to rise only 0.4% in 2026 to approximately 1.8 billion metric tonnes. The OECD also projects global steel excess capacity to reach as much as 745 million tonnes by 2028, reinforcing the risk that excess supply will continue to limit sustained price appreciation.

Against that backdrop, North American scrap markets are more likely to experience periods of stability and selective grade-specific gains than a broad, sustained price surge unless mill demand or scrap availability changes materially.

Market Watchlist for September 8–11

• Tuesday, September 8: U.S. Federal Reserve Consumer Credit for July.
• Thursday, September 10: U.S. Producer Price Index for August.
• Thursday, September 10: European Central Bank monetary policy decision and press conference.
• Friday, September 11: U.S. Consumer Price Index for August.