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Copper Scrap Plunges 19¢/Lb as Stainless Steel Rises
North American scrap benchmarks moved broadly lower on October 22 as major clean copper grades plunged 19¢/lb. Aluminum and brass/bronze also weakened, while stainless steel advanced across every listed grade and steel held steady after the previous session's gains.
Report date: October 23, 2026
Market data: October 22, 2026
Market at a Glance
- Copper: Major clean grades ↓19¢/lb.
- Aluminum: Broad declines; E.C. Aluminum Wire ↓2¢/lb.
- Brass/Bronze: Major grades ↓4¢/lb.
- Stainless Steel: Broad gains of ↑1¢ to ↑4¢/lb.
- Steel: → Flat after Wednesday's $10-$15/MT advance.
MONTREAL (Scrap Monster): North American scrap metal buying benchmarks moved broadly lower on Thursday, October 22, with copper recording the sharpest losses on the ScrapMonster Price Index.
#1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper-Light Copper each fell 19¢/lb.
The weakness extended beyond clean copper. Most aluminum benchmarks declined, led by a 2¢/lb drop in E.C. Aluminum Wire, while the major brass and bronze grades lost 4¢/lb.
Stainless steel moved firmly in the opposite direction, advancing across every listed grade. Steel benchmarks were unchanged, preserving the $10-$15/MT gains recorded during the previous session.
Benchmark buying-price move: ScrapMonster reports benchmark market movements. Local quotations can vary by grade, quality, quantity, location and individual buyer conditions.
ScrapMonster Edge: Copper's Rebound Reversed in Two Sessions
The scale of Thursday's copper decline becomes clearer when viewed against the previous few sessions.
The major clean copper grades gained a combined 6¢/lb on October 19 and 20. They then fell 3¢/lb on Wednesday and another 19¢/lb on Thursday.
| Market Date | Clean Copper Move | Move Since Oct. 16 Close |
|---|---|---|
| October 19 | ↑4¢/lb | +4¢/lb |
| October 20 | ↑2¢/lb | +6¢/lb |
| October 21 | ↓3¢/lb | +3¢/lb |
| October 22 | ↓19¢/lb | -16¢/lb |
In just two sessions, clean copper lost 22¢/lb. That completely erased the Monday-Tuesday rebound and pushed the benchmarks 16¢/lb below their October 16 closing levels.
The important distinction is that Thursday's decline was also much broader than Wednesday's move. Insulated wire, radiators, motors and other copper-bearing grades joined clean copper in moving lower.
Copper Scrap Prices Fall Sharply
Copper recorded the most significant declines among the major North American scrap categories.
| Copper Grade | October 22 Change |
|---|---|
| #1 Copper Bare Bright | ↓19¢/lb |
| #1 Copper Wire and Tubing | ↓19¢/lb |
| #2 Copper Wire and Tubing | ↓19¢/lb |
| #3 Copper-Light Copper | ↓19¢/lb |
| Copper Radiator | ↓9¢/lb |
| #1 Insulated Copper Wire 85% Recovery | ↓5¢/lb |
| Romex Wire | ↓5¢/lb |
| #2 Insulated Copper Wire 50% Recovery | ↓4¢/lb |
| Harness Wire 35% Recovery | ↓4¢/lb |
| Heater Cores | ↓3¢/lb |
| Cu Yokes | ↓2¢/lb |
Alternator Scrap, Copper Transformer Scrap, Scrap Electric Motors, Starters, Sealed Units and Xmas Lights each declined 1¢/lb.
Cu/Al Radiator Ends, Cu/Al Radiators and Cu/Al Radiators/Fe were the exceptions, holding steady on the Index.
The breadth of Thursday's decline is notable because the previous day's 3¢/lb copper pullback had been confined mainly to the major clean grades.
Aluminum Scrap Prices Move Broadly Lower
Aluminum also weakened across most of the listed benchmarks.
E.C. Aluminum Wire recorded the largest aluminum decline, falling 2¢/lb.
1100 Scrap, 3003 Scrap, 356 Aluminum Wheels, 5052 Scrap, 6061 Extrusions, 6063 Extrusions and 6063 Extrusions/Fe each declined 1¢/lb.
Chrome Wheels, Litho Sheets, MLC Clips, Old Cast, Old Sheet, Painted Siding, UBC and Zorba 90% NF also lost 1¢/lb.
Aluminum Grades That Held Steady
Not every aluminum category participated in the decline.
- Al/Cu Radiators
- Al/Cu Radiators/Fe
- Aluminum Radiators
- Aluminum Radiators/Fe
- Aluminum Transformers
- Breakage 50% Recovery
- Mixed Aluminum Turnings
Those grades maintained their previous-session benchmarks.
Brass and Bronze Fall 4¢/Lb
Brass and bronze moved lower alongside copper.
| Brass/Bronze Grade | October 22 Change |
|---|---|
| 70/30 Brass Scrap | ↓4¢/lb |
| 80/20 Brass Scrap | ↓4¢/lb |
| 85/15 Brass Scrap | ↓4¢/lb |
| Brass Radiator | ↓4¢/lb |
| Red Brass | ↓4¢/lb |
| Red Borings | ↓4¢/lb |
| Yellow Brass | ↓4¢/lb |
Brass Radiator/Fe declined 1¢/lb, while Brass Radiator Ends remained unchanged.
The broad brass decline shows that Thursday's weakness was no longer limited to clean copper and had spread into the wider copper-alloy basket.
Stainless Steel Rises Across Every Listed Grade
Stainless steel was the only major scrap category to post broad gains on October 22.
| Stainless Grade | October 22 Change |
|---|---|
| 201 SS | ↑1¢/lb |
| 301 SS | ↑1¢/lb |
| 304 SS Solid | ↑2¢/lb |
| 304 SS Turning | ↑2¢/lb |
| 309 SS | ↑2¢/lb |
| 316 SS Solid | ↑2¢/lb |
| 310 SS | ↑3¢/lb |
| 330 SS | ↑4¢/lb |
330 SS recorded the largest stainless increase of the session at 4¢/lb, followed by 310 SS at 3¢/lb.
The move gave stainless a distinctly different direction from copper, aluminum and brass/bronze.
Steel Holds Wednesday's Gains
Steel benchmarks recorded no further change on Thursday.
- #1 Bundle: → Flat
- #1 Busheling: → Flat
- #1 HMS: → Flat
- HMS 80/20: → Flat
- Sheet Metal: → Flat
- Shredded Auto Scrap: → Flat
- Structural Steel: → Flat
The unchanged session is more meaningful in context because steel had just advanced $10-$15/MT on October 21.
Thursday's stability means those gains were retained rather than immediately reversed.
ScrapMonster Market Read
October 22 produced a much broader non-ferrous selloff than the previous session.
Copper weakness spread from the four major clean grades into insulated wire, radiators, motors and other recovery categories. Aluminum and brass also moved lower across much of their respective benchmark baskets.
Stainless steel provided the clear countertrend, advancing across every listed grade.
Steel was unchanged, but that should not be read as fresh weakness. Ferrous benchmarks held the $10-$15/MT increases recorded one day earlier.
For processors and buyers, the key market split heading into the next session is clear: copper and related non-ferrous categories have lost momentum sharply, while stainless and recently higher steel benchmarks remain comparatively firm.
What to Watch Next
Copper: A 22¢/lb two-session decline has completely erased the early-week rebound. The next session will show whether buyers begin to stabilize clean copper or whether the correction extends.
Brass: Thursday's 4¢/lb decline indicates that copper weakness has now reached major alloy benchmarks.
Aluminum: The move broadened substantially after E.C. Aluminum Wire had been the only aluminum grade to rise on Wednesday.
Stainless steel: Broad gains across all listed grades put stainless in the strongest position among the major non-ferrous and alloy categories.
Steel: Ferrous benchmarks retained Wednesday's $10-$15/MT increase. Follow-through would confirm that the earlier advance has more staying power.
Frequently Asked Questions
How much did major clean copper scrap fall on October 22?
#1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper-Light Copper each declined 19¢/lb.
How much has clean copper fallen over the last two sessions?
The four major clean copper grades fell 3¢/lb on October 21 and another 19¢/lb on October 22, for a combined two-session decline of 22¢/lb.
Which aluminum grade recorded the largest decline?
E.C. Aluminum Wire fell 2¢/lb. Most of the other declining aluminum benchmarks lost 1¢/lb.
Which stainless steel grade gained the most?
330 SS recorded the largest increase at 4¢/lb, followed by 310 SS at 3¢/lb.
Did steel scrap prices fall?
No. Steel benchmarks were unchanged on October 22, meaning they retained the $10-$15/MT increases recorded during the previous session.
How did brass and bronze perform?
Most major brass and bronze benchmarks declined 4¢/lb. Brass Radiator/Fe fell 1¢/lb, while Brass Radiator Ends remained unchanged.
