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China Copper Scrap Falls CNY 100/MT as Aluminum Rebounds
Chinese scrap markets remained divided on October 14, with major clean copper grades falling CNY 100 per metric ton while several key aluminum benchmarks rebounded CNY 50 per metric ton. Steel, stainless steel and brass/bronze remained unchanged.
By Anil Mathews
Published October 15, 2026
Market data: October 14, 2026
Market at a Glance
- Copper: Major clean grades fell ↓CNY 100/MT.
- Aluminum: Major grades gained ↑CNY 50/MT.
- Brass/Bronze: → Flat.
- Stainless Steel: → Flat.
- Steel: → Flat.
- Since October 7: Major clean copper remains ↑CNY 1,000/MT, while major aluminum grades remain ↓CNY 350/MT.
BEIJING (Scrap Monster): Chinese scrap metal benchmarks posted another mixed session on Wednesday, October 14, according to the ScrapMonster Price Index.
#1 Copper Bare Bright, #1 Copper Wire & Tubing and #2 Copper Wire & Tubing each declined ↓CNY 100/MT.
Aluminum moved in the opposite direction. 6063 Extrusions, Aluminum Ingots, E.C. Aluminum Wire, Old Cast and Old Sheet each gained ↑CNY 50/MT.
Steel, stainless steel and brass/bronze recorded no daily movement.
Benchmark price move: ScrapMonster reports benchmark market movements. Actual buying and transaction prices can vary by grade, location, volume and individual market conditions.
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October 14 delivered another unusually close directional match between Chinese scrap benchmarks and Shanghai futures.
SHFE copper settled at approximately CNY 111,590 per tonne, down CNY 120 from October 13.
The three main clean copper scrap benchmarks declined CNY 100/MT.
SHFE aluminum moved higher by approximately CNY 30 per tonne to CNY 23,550, while the principal aluminum scrap grades increased CNY 50/MT.
| October 14 Benchmark | Scrap Move | SHFE Move |
|---|---|---|
| Copper | ↓CNY 100/MT | ↓CNY 120/tonne |
| Aluminum | ↑CNY 50/MT | ↑CNY 30/tonne |
Scrap and futures are different markets and should not be treated as interchangeable. SHFE tracks exchange-traded primary metal contracts, while ScrapMonster tracks secondary-material benchmarks.
Still, the close directional alignment is useful because it shows that Wednesday's copper weakness and aluminum rebound were visible beyond the scrap market itself.
The longer post-holiday picture remains much more favorable for copper than aluminum. Since October 7, major clean copper scrap has gained a net CNY 1,000/MT, while the largest aluminum grades remain approximately CNY 350/MT lower.
That leaves a CNY 1,350/MT relative swing between the two groups despite Wednesday's copper decline and aluminum rebound.
Copper Scrap Prices Pull Back
Copper reversed part of Tuesday's advance, although the decline was relatively modest compared with recent gains.
| Copper Grade | October 14 Change |
|---|---|
| #1 Copper Bare Bright | ↓CNY 100/MT |
| #1 Copper Wire & Tubing | ↓CNY 100/MT |
| #2 Copper Wire & Tubing | ↓CNY 100/MT |
| #1 Insulated Copper Wire 85% Recovery | ↓CNY 50/MT |
| #2 Insulated Copper Wire 50% Recovery | → Flat |
| Copper Transformer Scrap | → Flat |
| Cu Yokes | → Flat |
| Cu/Al Radiators | → Flat |
Heater Cores, Harness Wire 35% Recovery, Scrap Electric Motors and Sealed Units also remained unchanged.
Copper Still Holds Most of Its Post-Holiday Gains
Wednesday's decline follows a strong series of gains in clean copper.
| Market Date | Major Clean Copper Move | Running Change Since Oct. 7 |
|---|---|---|
| October 8 | ↑CNY 450/MT | +450 |
| October 9 | → Flat | +450 |
| October 12 | ↑CNY 400/MT | +850 |
| October 13 | ↑CNY 250/MT | +1,100 |
| October 14 | ↓CNY 100/MT | +1,000 |
The latest decline therefore erased less than one-tenth of the CNY 1,100/MT advance accumulated through October 13.
For now, Wednesday looks more like a partial pullback than a reversal of the broader post-holiday copper move.
Aluminum Scrap Rebounds Modestly
Aluminum turned higher after declining during the previous two sessions.
| Aluminum Grade | October 14 Change | Net Since Oct. 7 |
|---|---|---|
| 6063 Extrusions | ↑CNY 50/MT | ↓CNY 350/MT |
| Aluminum Ingots | ↑CNY 50/MT | ↓CNY 350/MT |
| E.C. Aluminum Wire | ↑CNY 50/MT | ↓CNY 350/MT |
| Old Cast | ↑CNY 50/MT | ↓CNY 350/MT |
| Old Sheet | ↑CNY 50/MT | ↓CNY 350/MT |
| Aluminum Radiators | → Flat | ↓CNY 150/MT |
| Aluminum Transformers | → Flat | ↓CNY 150/MT |
| UBC | → Flat | ↓CNY 150/MT |
| Zorba 90% NF | → Flat | ↓CNY 150/MT |
The CNY 50/MT recovery is modest compared with recent losses.
Major aluminum grades remain down a net CNY 350/MT from their October 7 benchmarks despite Wednesday's rebound.
SHFE Aluminum Also Turned Higher
ScrapMonster's October 14 SHFE data showed aluminum at approximately CNY 23,550 per tonne, up ↑CNY 30/tonne from the previous session.
That compares with the ↑CNY 50/MT increase in the major aluminum scrap grades.
The direction matched even though the two benchmarks represent different parts of the market.
Steel Scrap Remains Unchanged
Chinese ferrous scrap prices continued to show little movement.
#1 HMS remained → Flat.
Cast Iron Scrap also recorded no day-over-day variation.
Steel remains the most stable major category in the recent China scrap sequence.
Stainless Steel Holds Steady
All listed stainless steel scrap grades remained unchanged.
201 SS, 304 SS Solid, 304 SS Turning and 309 SS were → Flat.
310 SS, 316 SS Solid and Shredded Stainless Steel also maintained their previous-session benchmarks.
The flat session leaves earlier October declines intact rather than reversing them.
Brass and Bronze Prices Stay Flat
Brass and bronze scrap prices showed no variation.
Brass Radiator, Red Brass and Yellow Brass all remained → Flat.
Red and Yellow Brass continue to hold the gains accumulated earlier in the week.
China and North America Diverged on Aluminum
The October 14 session also produced a notable regional contrast.
In China, the principal aluminum scrap grades gained ↑CNY 50/MT.
On the same market date, North American aluminum benchmarks weakened broadly. E.C. Aluminum Wire fell 3¢/lb, while 6063 Extrusions, 5052 Scrap, Old Cast, UBC and Zorba 90% NF were among the grades down 2¢/lb.
Copper weakened in both regions, although the North American adjustment was substantially larger, with major clean grades falling 10¢/lb.
The comparison reinforces that scrap pricing remains regional even when broader exchange signals move in the same direction.
What to Watch Next
Copper follow-through: Clean copper remains CNY 1,000/MT above October 7 levels despite Wednesday's decline. Another sharp loss would begin to test the strength of the recent advance.
Aluminum recovery: Wednesday's CNY 50/MT gain is the first rebound after two declining sessions, but major grades remain CNY 350/MT below October 7.
SHFE alignment: Copper and aluminum scrap again moved in the same direction as their respective SHFE contracts.
Regional divergence: Chinese aluminum rose while North American aluminum weakened on the same date.
Steel: #1 HMS and Cast Iron Scrap remain unchanged and continue to provide the most stable part of the market.
Stainless and brass: Both categories remain paused after earlier October adjustments.
ScrapMonster Market Read: October 14 looks like a partial rotation rather than a broad change in China's scrap market. Copper finally gave back CNY 100/MT after a strong post-holiday run, but the major clean grades still hold a net CNY 1,000/MT gain from October 7. Aluminum bounced CNY 50/MT, yet remains CNY 350/MT lower over the same period. The SHFE market reinforced both moves, with copper down CNY 120 and aluminum up CNY 30. The important signal is therefore not simply that prices were mixed; copper remains the stronger multi-session market, while aluminum is attempting only a modest recovery from recent weakness.
Sources: ScrapMonster Price Index; ScrapMonster SHFE market data.
