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Steel Scrap Jumps $10–$15/MT as Copper Falls 3¢/Lb
North American scrap benchmarks diverged on October 21 as steel prices rose $10–$15 per metric ton while the major clean copper grades fell 3¢/lb. E.C. Aluminum Wire gained 1¢/lb, while stainless steel and brass/bronze remained unchanged.
Report date: October 22, 2026
Market data: October 21, 2026
Market at a Glance
- Copper: Major clean grades ↓3¢/lb.
- Aluminum: E.C. Aluminum Wire ↑1¢/lb; other benchmarks → Flat.
- Steel: ↑$10–$15/MT across the listed grades.
- Stainless Steel: → Flat.
- Brass/Bronze: → Flat.
MONTREAL (Scrap Monster): North American scrap metal buying benchmarks moved in different directions on Wednesday, October 21, with ferrous scrap strengthening while clean copper pulled back 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 declined by 3¢/lb.
Steel moved the other way. Major ferrous grades increased by $10–$15 per metric ton, marking a clear shift after several sessions of unchanged benchmarks.
Within aluminum, E.C. Aluminum Wire gained 1¢/lb while the remainder of the category held steady. Stainless steel and brass/bronze recorded no daily movement.
Benchmark buying-price move: ScrapMonster reports benchmark market movements. Local yard quotations can vary by grade, location, volume and individual buyer conditions.
ScrapMonster Edge: Copper Gives Back Half of Its Two-Session Gain
Wednesday's 3¢/lb decline follows a strong two-session advance in clean copper.
The major grades gained 4¢/lb on October 19 and another 2¢/lb on October 20, for a combined 6¢/lb increase from the October 16 close.
The latest 3¢/lb pullback gives back half of that advance, leaving the major clean grades still approximately 3¢/lb above their October 16 closing benchmarks.
| 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 |
The move looks more like a partial retracement of the recent clean-copper rally than a full reversal. Broader copper-bearing grades remained unchanged, limiting the decline to the higher-purity benchmarks.
Copper Scrap Pulls Back 3¢/Lb
Clean copper moved lower after advancing during the previous two sessions.
| Copper Grade | October 21 Change |
|---|---|
| #1 Copper Bare Bright | ↓3¢/lb |
| #1 Copper Wire and Tubing | ↓3¢/lb |
| #2 Copper Wire and Tubing | ↓3¢/lb |
| #3 Copper-Light Copper | ↓3¢/lb |
Copper Radiators, insulated wire grades, Copper Transformer Scrap, Cu Yokes and the listed Cu/Al radiator grades remained unchanged.
Harness Wire, Heater Cores, Romex Wire, Scrap Electric Motors, Alternators, Starters, Sealed Units and Xmas Lights also maintained their previous-session benchmarks.
E.C. Aluminum Wire Gains 1¢/Lb
Aluminum was largely quiet, with E.C. Aluminum Wire providing the category's only upward adjustment at 1¢/lb.
6063 Extrusions, 6061 Extrusions, 5052 Scrap, UBC, Old Cast, MLC Clips and the other major aluminum benchmarks were unchanged.
Aluminum radiator, transformer and recovery grades also held steady.
The selective wire increase suggests that aluminum strength remains concentrated rather than broad-based.
Steel Scrap Breaks Higher
Steel recorded the most significant move of the session after several days of unchanged benchmarks.
| Steel Grade | October 21 Change |
|---|---|
| #1 Bundle | ↑$10/MT |
| #1 Busheling | ↑$10/MT |
| HMS 80/20 | ↑$10/MT |
| Sheet Metal | ↑$10/MT |
| #1 HMS | ↑$15/MT |
| Shredded Auto Scrap | ↑$15/MT |
| Structural Steel | ↑$15/MT |
The broad ferrous increase stands out after an extended stretch of stable steel benchmarks and shifts some of the day's market momentum away from non-ferrous metals.
Stainless Steel Holds Steady
Stainless steel recorded no daily change.
201 SS, 301 SS, 304 SS Solid, 304 SS Turning, 309 SS, 310 SS, 316 SS Solid and 330 SS all maintained their previous-session benchmarks.
The category therefore continued to hold the gains recorded earlier in the week without another adjustment.
Brass and Bronze Remain Flat
Brass and bronze benchmarks also held steady.
70/30 Brass Scrap, 80/20 Brass Scrap, 85/15 Brass Scrap, Brass Radiator, Red Brass, Red Borings and Yellow Brass recorded no day-over-day movement.
The lack of movement confirms that Wednesday's copper decline remained concentrated in the clean copper grades rather than spreading through the wider copper-alloy market.
What to Watch Next
Steel follow-through: Wednesday's $10–$15/MT increase is the first meaningful ferrous move after several quiet sessions. The next benchmark will show whether this is the start of a broader steel repricing or a one-session adjustment.
Copper support: Clean copper has surrendered half of its recent 6¢/lb advance but remains above the October 16 close. Another decline would put more of that short-term recovery at risk.
E.C. Aluminum Wire: The grade continues to show independent movement while much of the aluminum market remains flat.
Stainless steel: Earlier gains remain intact, but the category has paused for a second session.
Brass/Bronze: Continued stability suggests recent copper volatility has not yet carried into the major brass benchmarks.
ScrapMonster Market Read
October 21 produced a notable rotation in the North American scrap market.
Copper, which had led gains earlier in the week, pulled back by 3¢/lb. Steel, which had remained largely dormant, moved decisively higher across the listed grades.
E.C. Aluminum Wire added a modest gain, while stainless steel and brass/bronze remained stable.
For processors and buyers, the session is less about a broad market direction than a shift in leadership: clean copper cooled, while ferrous scrap finally moved higher.
