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China Stainless Scrap Jumps as Copper Falls CNY 150/MT
Chinese scrap benchmarks were mixed on October 21 as major clean copper grades fell CNY 150 per metric ton while stainless steel advanced broadly, led by a CNY 350/MT gain in 310 SS. Selected aluminum grades also moved higher, while steel and brass/bronze remained unchanged.
Report date: October 22, 2026
Market data: October 21, 2026
Market at a Glance
- Copper: Major clean grades ↓CNY 150/MT.
- Aluminum: Selected grades ↑CNY 50/MT.
- Stainless Steel: Broad gains, led by 310 SS ↑CNY 350/MT.
- Steel: → Flat.
- Brass/Bronze: → Flat.
BEIJING (Scrap Monster): Chinese scrap metal prices posted a mixed performance on Wednesday, October 21, 2026, as copper moved lower while stainless steel and selected aluminum grades advanced on the ScrapMonster Price Index.
#1 Copper Bare Bright, #1 Copper Wire and Tubing and #2 Copper Wire and Tubing each declined by CNY 150/MT.
Stainless steel moved firmly in the opposite direction, with gains across every listed grade. 310 SS posted the strongest increase at CNY 350/MT.
Selected aluminum grades added CNY 50/MT, while steel and brass/bronze remained unchanged.
Benchmark buying-price move: ScrapMonster reports benchmark market movements. Actual transaction prices can vary by grade, quality, quantity, buyer and location.
ScrapMonster Edge: Stainless Steel Leads the Session
Stainless steel delivered the clearest upward move in China's scrap market on October 21.
| Stainless Grade | October 21 Change |
|---|---|
| 201 SS | ↑CNY 100/MT |
| 304 SS Solid | ↑CNY 200/MT |
| 304 SS Turning | ↑CNY 200/MT |
| Shred SS | ↑CNY 200/MT |
| 309 SS | ↑CNY 300/MT |
| 316 SS Solid | ↑CNY 300/MT |
| 310 SS | ↑CNY 350/MT |
The breadth of the stainless move stands out against the rest of the market, where price direction was more selective.
Copper Scrap Prices Move Lower
Copper weakened following the previous session's advance.
| Copper Grade | October 21 Change |
|---|---|
| #1 Copper Bare Bright | ↓CNY 150/MT |
| #1 Copper Wire and Tubing | ↓CNY 150/MT |
| #2 Copper Wire and Tubing | ↓CNY 150/MT |
| #1 Insulated Copper Wire 85% Recovery | ↓CNY 50/MT |
Heater Cores, #2 Insulated Copper Wire with 50% Recovery, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Scrap, Harness Wire with 35% Recovery, Scrap Electric Motors and Sealed Units remained unchanged.
The decline was therefore concentrated in the major clean copper grades and #1 insulated wire rather than extending across the full copper-bearing scrap basket.
Selected Aluminum Scrap Grades Rise
Aluminum posted modest gains across selected grades.
6063 Extrusions and Aluminum Ingots each increased by CNY 50/MT.
E.C. Aluminum Wire, Old Cast and Old Sheet also gained CNY 50/MT.
Aluminum Radiators and Aluminum Transformers remained unchanged, while UBC and Zorba 90% NF also held their previous-session levels.
The aluminum move was selective rather than market-wide, with gains concentrated in extrusion, wire, ingot and selected obsolete-scrap grades.
Stainless Steel Scrap Rises Across the Board
Stainless steel recorded broad gains across every listed grade.
201 SS increased by CNY 100/MT.
304 SS Solid, 304 SS Turning and Shred SS each advanced by CNY 200/MT.
309 SS and 316 SS Solid each rose CNY 300/MT.
310 SS recorded the strongest move of the category, increasing by CNY 350/MT.
Steel Scrap Prices Remain Unchanged
Steel scrap showed no daily movement.
#1 HMS and Cast Iron Scrap both maintained their previous-day benchmarks on the Index.
Brass and Bronze Hold Steady
Brass and bronze scrap prices were unchanged.
Brass Radiator recorded no variation, while Red Brass and Yellow Brass also maintained their previous-session levels.
The flat brass market indicates that the day's copper weakness did not extend into the major copper-alloy scrap benchmarks.
What to Watch Next
Copper: The next session will show whether the CNY 150/MT decline in clean copper develops into a broader pullback or remains a limited adjustment.
Stainless steel: Broad gains across every listed grade make stainless the category to watch for follow-through, particularly after the stronger increases in 309 SS, 316 SS Solid and 310 SS.
Aluminum: Selected grades moved higher, but several benchmarks remained unchanged. Broader participation would strengthen the upward signal.
Steel and brass: Both categories remain stable, providing little directional signal from the latest session.
ScrapMonster Market Read
October 21 produced a clear split in China's scrap market.
Copper weakened across the major clean grades, while stainless steel recorded the broadest and strongest gains of the session. Aluminum moved modestly higher in selected categories, and steel and brass remained stable.
The result is a market without a single direction: copper softened, stainless strengthened and the remaining categories ranged from modest gains to no change.
