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Chinese Scrap Metal Prices: Copper Plunges CNY 1,400/MT, Aluminum Falls – November 3, 2026
Chinese scrap metal prices declined sharply on November 3, led by CNY 1,400 per metric ton losses across three major clean copper grades. All reported aluminum and brass/bronze grades also weakened, while steel and stainless steel remained unchanged on the ScrapMonster Price Index.
By Anil Mathews
Published: November 4, 2026
Market data: November 3, 2026
Market at a Glance
- Copper: ▼ CNY 50–1,400/MT across all 12 reported grades.
- Aluminum: ▼ CNY 50–100/MT across all nine reported grades.
- Brass/Bronze: ▼ CNY 100–200/MT across all three grades.
- Stainless Steel: → Flat across all seven reported grades.
- Steel: → Flat for #1 HMS and Cast Iron Scrap.
BEIJING (Scrap Monster): Chinese scrap metal buying benchmarks recorded broad declines on Tuesday, November 3, with copper posting the largest losses on the ScrapMonster Price Index.
#1 Copper Bare Bright and #1 and #2 Copper Wire and Tubing each dropped CNY 1,400/MT, extending the previous session's weakness. Aluminum declined across every listed grade, while Red and Yellow Brass fell CNY 200/MT each. Steel and stainless steel prices held steady.
ScrapMonster Edge: Clean Copper Loses CNY 1,600/MT in Two Sessions
China's three major clean copper benchmarks declined CNY 200/MT on November 2, followed by a much larger CNY 1,400/MT drop on November 3. The combined two-session decline reached CNY 1,600/MT per grade.
Aluminum also extended its losses, although the magnitude was considerably smaller. Five grades that fell CNY 300/MT on Monday declined another CNY 100/MT on Tuesday, bringing their two-session losses to CNY 400/MT each.
Market takeaway: Copper's daily decline accelerated sharply, while aluminum and brass/bronze also weakened. The unchanged steel and stainless steel benchmarks show that the selling pressure was concentrated in nonferrous categories. For buyers and processors, the consecutive grade-level movements provide a clearer picture than either session alone.
Copper Scrap Prices
Copper scrap prices declined across all 12 reported grades, with three major clean copper benchmarks each falling CNY 1,400 per metric ton:
- #1 Copper Bare Bright
- #1 Copper Wire and Tubing
- #2 Copper Wire and Tubing
#1 Insulated Copper Wire 85% Recovery declined CNY 700/MT, while Heater Cores dropped CNY 600/MT.
#2 Insulated Copper Wire 50% Recovery and Cu/Al Radiators each fell CNY 200/MT.
Five additional grades recorded smaller declines of CNY 50/MT each: Copper Transformer Scrap, Cu Yokes, Harness Wire 35% Recovery, Scrap Electric Motors and Sealed Units.
Aluminum Scrap Prices
Aluminum scrap prices weakened across all nine reported grades, with declines ranging from CNY 50 to CNY 100 per metric ton.
Five grades fell CNY 100/MT each:
- 6063 Aluminum Extrusions
- Aluminum Ingots
- E.C. Aluminum Wire
- Old Cast
- Old Sheet
The remaining four grades declined CNY 50/MT each: Aluminum Radiators, Aluminum Transformers, Used Beverage Cans (UBC) and Zorba 90% INF.
The losses extended Monday's broader aluminum decline, leaving every reported grade lower for a second consecutive session.
Brass/Bronze Scrap Prices
Chinese brass and bronze scrap prices also moved lower following an unchanged session on November 2.
Red Brass and Yellow Brass each declined CNY 200/MT, while Brass Radiator dropped CNY 100/MT.
All three reported brass/bronze categories recorded price declines.
Stainless Steel Scrap Prices
Stainless steel scrap benchmarks remained unchanged across all seven reported grades.
Unchanged: 201 SS, 304 SS Solid, 304 SS Turning, 309 SS, 310 SS, 316 SS Solid and Shredded Stainless Steel.
The category held steady after selected stainless steel grades declined in the previous session.
Steel Scrap Prices
Chinese ferrous scrap prices remained unchanged despite the declines across copper, aluminum and brass/bronze.
Unchanged: #1 HMS and Cast Iron Scrap.
Neither reported steel grade registered a day-over-day buying-benchmark adjustment.
Pricing scope: This report covers day-over-day changes in ScrapMonster Chinese scrap buying benchmarks, expressed in Chinese yuan per metric ton (CNY/MT). Actual purchasing quotations vary by grade, recovery, material quality, quantity, location and buyer. Current proprietary Premium price levels are not disclosed.
