By 
BEIJING (Scrap Monster): Chinese scrap metal buying benchmarks moved broadly lower on Monday, September 28, 2026, with copper leading declines across the ScrapMonster Price Index.
Major clean copper grades fell CNY 700/MT, aluminum declined across every listed category, and brass/bronze and selected stainless steel grades also weakened. Steel was the exception, with #1 HMS and Cast Iron Scrap holding steady.
| Metal | September 28 Move | Market Read |
|---|---|---|
| Copper | ▼ Up to CNY 700/MT | Largest decline among the tracked scrap categories |
| Aluminum | ▼ CNY 100-250/MT | Every listed grade moved lower |
| Steel | → Flat | #1 HMS and Cast Iron Scrap unchanged |
| Stainless Steel | ▼ Up to CNY 100/MT | Higher-alloy grades weakened; 201 and 304 grades held |
| Brass/Bronze | ▼ CNY 50-100/MT | Red and Yellow Brass both moved lower |
SCRAPMONSTER EDGE
Clean copper scrap moved almost point-for-point with China's domestic futures benchmark. #1 Copper Bare Bright and #1/#2 Copper Wire and Tubing fell CNY 700/MT, while SHFE copper declined CNY 670/MT between September 25 and September 28. The difference was only CNY 30/MT, showing unusually close directional alignment between the physical scrap benchmark and futures market during the session.
Copper Scrap Prices
Copper recorded the largest price movement across the Chinese scrap market on September 28.
#1 Copper Bare Bright, #1 Copper Wire and Tubing and #2 Copper Wire and Tubing each ▼ fell CNY 700/MT.
#1 Insulated Copper Wire with 85% Recovery declined ▼ CNY 350/MT, while #2 Insulated Copper Wire with 50% Recovery slipped ▼ CNY 100/MT.
Cu/Al Radiators fell ▼ CNY 100/MT, Harness Wire with 35% Recovery declined ▼ CNY 50/MT, and Heater Cores dropped ▼ CNY 300/MT.
Copper Transformer Scrap, Cu Yokes, Scrap Electric Motors and Sealed Units were → unchanged.
Copper Benchmark Check
China's domestic copper futures market weakened alongside physical scrap.
SHFE copper stood at CNY 110,030/MT on September 28, down from CNY 110,700/MT on September 25 — a decline of CNY 670/MT.
Scrap/futures read: The CNY 700/MT fall in major clean copper scrap closely tracked the CNY 670/MT decline in the SHFE benchmark. Unlike some recent sessions when scrap and exchange prices diverged, Monday produced a much clearer alignment between the two markets.
Aluminum Scrap Prices
Aluminum scrap moved lower across every category reported on the Index.
6063 Aluminum Extrusions and Aluminum Ingots each ▼ fell CNY 250/MT.
Aluminum Radiators and Aluminum Transformers declined ▼ CNY 100/MT each.
E.C. Aluminum Wire, Old Cast and Old Sheet each dropped ▼ CNY 250/MT.
Used Beverage Cans (UBC) and Zorba 90% INF declined ▼ CNY 100/MT.
ALUMINUM READ
Unlike copper, where several secondary grades remained flat, every aluminum grade tracked in the China report moved lower. The largest aluminum declines were CNY 250/MT in 6063 Extrusions, Aluminum Ingots, E.C. Aluminum Wire, Old Cast and Old Sheet.
Steel Scrap Prices
Steel was the only major scrap category to avoid Monday's broader decline.
#1 HMS prices remained → unchanged.
Cast Iron Scrap also recorded no movement on the Index.
Stainless Steel Scrap Prices
Stainless steel produced a mixed-to-lower session, with several grades unchanged while higher-alloy categories weakened.
201 SS, 304 SS Solid, 304 SS Turning and Shredded SS remained → flat.
309 SS and 316 SS Solid each ▼ fell CNY 50/MT.
310 SS recorded the largest stainless decline, dropping ▼ CNY 100/MT.
Brass/Bronze Scrap Prices
Chinese brass and bronze scrap prices also moved lower.
Brass Radiator declined ▼ CNY 50/MT.
Red Brass and Yellow Brass each fell ▼ CNY 100/MT.
Market Read
September 28 marked a clear shift from the previous Chinese scrap session, when all five major categories had held steady.
Copper led the move lower. The CNY 700/MT decline in the major clean grades was closely matched by the CNY 670/MT fall in SHFE copper, providing a stronger futures-to-scrap signal than seen in several recent sessions.
Aluminum weakness was broader, with every listed grade declining. Brass/bronze and selected stainless grades also moved lower, while steel remained insulated from the broader nonferrous decline.
The divergence between falling nonferrous scrap and unchanged ferrous prices leaves steel as the clear outlier in Monday's Chinese market.
Benchmark buying-price move • Local quotes vary by grade and location.
