Week of 23–24 October 2026
This week in the world scrap trade
A short two-day edition covering 23–24 October. Old ships stay away from recycling yards because freight earnings are high, ex-China copper scrap remains tight, Chinese stainless scrap prices firm a little, and secondary lead supply in China tightens.
Ship recycling24 Oct 2026
Ship recycling: freight and oil prices keep old ships trading; Bangladesh buyers most active
Cash buyer GMS said in its Week 43 report, dated 24 October, that strong freight markets continue to keep older ships out of recycling yards. The Baltic Dry Index rose from 2,545 on 15 October to 2,693 on 22 October, led by Capesize ships. Renewed Houthi attacks in Saudi Arabia pushed Brent crude above US$115 a barrel during Friday's trading. GMS said steel plate prices firmed in India and were unchanged in Bangladesh, Pakistan and China, while Turkey eased slightly. Bangladesh has the strongest appetite for standard ships but few suitable vessels are on offer; Pakistan's demand is steady, India is buying specialist ships, and Turkey is cautious. Alang, Chattogram and Gadani received deliveries of ships bought earlier, but new sales have not picked up. Clarksons data earlier in October showed 273 ships sold for recycling in January–September, 13 per cent fewer than a year earlier.
Why it matters: Ship recycling supplies a large share of steel scrap in South Asia; while freight pays well, yards in Bangladesh, India and Pakistan get fewer ships and less re-rollable steel.
Copper23 Oct 2026
Ex-China copper scrap stays tight as LME copper slips near US$14,000
Shanghai Metals Market (SMM) said in its weekly review of copper scrap outside China, published on 23 October, that supply remains tight with no clear improvement. LME copper opened the week at US$14,372.5 a tonne, fell to a low of US$14,031 and then settled around US$14,200. As copper prices fell, the coefficients — scrap prices quoted as a percentage of LME copper — rose slightly, mainly for No.1 and No.2 copper; bare bright copper stayed about the same because its coefficient was already high. Enquiries and deals improved as buyers restocked, but some sellers held back at lower prices, limiting trade. SMM said the coefficient could rise further if LME stays weak, and that in China some untaxed scrap cannot enter the formal system, with imports not fully covering the gap.
Why it matters: Rising coefficients mean scrap is getting dearer relative to refined copper, which squeezes wire rod mills and refiners that rely on imported scrap.
Stainless23 Oct 2026
Chinese 304 stainless scrap firms slightly; scrap stays about 460 yuan a tonne cheaper than nickel pig iron
SMM's stainless steel scrap weekly review of 23 October said 304 grade off-cuts in East China traded at 9,400–9,500 yuan a tonne, up slightly, while Foshan prices were mostly unchanged at 9,650–9,950 yuan. In Shanghai, 304 off-cuts rose 150 yuan a tonne from the week before. Making stainless steel from scrap cost about 13,337 yuan a tonne against about 13,796 yuan using high-grade nickel pig iron, giving scrap an advantage of about 460 yuan. Stainless futures closed at 13,635 yuan on 23 October after a low of about 13,120 yuan the week before. Reports of Indonesian nickel production cuts lifted prices, though later reports said that news was false. Mill production cuts and unresolved tax invoice issues limited trade, and SMM expects prices to stay in a narrow range.
Why it matters: Scrap's cost advantage over nickel pig iron keeps Chinese mills buying stainless scrap, which supports prices for traders and exporters of 304 grades.
Lead23 Oct 2026
China: secondary lead supply tightens; smelter profits improve as scrap battery prices hold
SMM's weekly review of secondary refined lead in China, published on 23 October, said scrap battery prices were stable during the week. Spot supply of secondary lead was tight and sellers held firm, so the discount of secondary lead to the SMM #1 lead average price narrowed to between 50 yuan and zero a tonne. As of 23 October, large secondary lead smelters were making about 245 yuan a tonne and small and mid-sized smelters about 74 yuan, excluding income from antimony and tin by-products — both better than the previous week. SMM noted that a major plant in Inner Mongolia was continuing to raise its output.
Why it matters: Lead-acid battery scrap is one of the most traded non-ferrous scrap streams; better smelter margins in China can support scrap battery buying prices.
Week of 16–22 October 2026
Earlier week
A policy-heavy week for the world scrap trade. Recyclers pushed back against the EU's draft list limiting metal scrap exports, Thailand proposed banning several scrap imports, Europe's aluminium scrap kept flowing to the United States, China's copper scrap imports jumped, and German prices held steady despite transport trouble.
Policy19 Oct 2026
Recyclers ask the EU to rethink its draft list of countries allowed to receive metal scrap
The Bureau of International Recycling (BIR) asked the European Commission on 19 October to reassess its draft restrictions on exports of recycled metal to countries outside the OECD. Under the draft, from 21 May 2027 only countries on an approved list could receive EU metal waste. Of 24 countries and territories that applied, only five — Moldova, Montenegro, North Macedonia, Serbia and Ukraine — are proposed for approval, and only for named waste streams. The consultation ran from 18 September to 16 October; BIR wants it extended to at least eight weeks, closing no earlier than 13 November, and asks the Commission to show the evidence behind the exclusions. The first approved list is due to be adopted by 21 November 2026.
Why it matters: Turkey, India, Pakistan, Bangladesh and Egypt are big buyers of European scrap; if they are left off the list, EU scrap would have to find buyers elsewhere and world prices and trade routes would shift.
Trade21 Oct 2026
Europe's aluminium scrap exports to the US up 243 per cent, says Metlen's chairman
Exports of European aluminium scrap to the United States have risen 243 per cent from a year earlier, according to reports on 21 October. Evangelos Mytilineos, executive chairman of the Greek industrial group Metlen, said the gap between US tariffs on primary aluminium and on scrap is pulling high-value scrap out of Europe. He called on the EU to give aluminium scrap the status of a strategic resource, arguing that Europe cannot meet its recycling and low-carbon goals while losing the raw material. European aluminium makers have been asking for export limits or duties on scrap for some time. The reports did not give tonnages or the exact period behind the 243 per cent figure.
Why it matters: For scrap exporters the US is paying well; for European smelters and remelters it means tighter supply and higher scrap costs, and pressure for export curbs is growing.
Imports21 Oct 2026
Thailand proposes banning imports of steel, copper, aluminium and rubber scrap
Thailand's Customs Department proposed on 21 October that the Department of Foreign Trade ban imports of four kinds of scrap: ferrous scrap (HS 7204), copper scrap (7404), aluminium scrap (7602) and rubber scrap (4004). The stated aim is to stop electronic and hazardous waste being smuggled into the country under scrap declarations. The proposal includes a transition period of six to twelve months, and the date and details are still to be decided. In the meantime customs has stepped up physical checks on containers declared as metal scrap. Thailand was also the largest single source of China's copper scrap imports in September.
Why it matters: Exporters shipping scrap to Thailand face slower clearance now and could lose the market later; a ban would also change how copper and aluminium scrap reaches China through South-East Asia.
Imports20 Oct 2026
China's copper scrap imports jump a third in September
China imported 236,600 tonnes of copper scrap in September 2026, according to customs data analysed by Shanghai Metals Market on 20 October — up 33 per cent from August and 29 per cent from a year earlier. Imports for January to September reached about 2.37 million tonnes, up 10 per cent. Thailand was the largest source with 42,300 tonnes, followed by Japan (27,400 tonnes) and Spain (13,700 tonnes, more than double a year earlier). The UK, Canada and Taiwan each sent about 9,000–10,000 tonnes. SMM linked the rise to a favourable import price window in July and August, strong smelter demand for scrap with proper tax invoices, and — for Spain — exporters shipping ahead of EU restrictions due in 2027. It expects imports to ease in October.
Why it matters: China is the world's largest buyer of copper scrap, so its import pace sets the tone for copper scrap prices and spreads everywhere else.
Prices15 Oct 2026
German scrap prices hold steady in October as river and rail transport struggle
Steel scrap prices in Germany were broadly stable in October, moving by about €5–15 a tonne depending on region and grade, according to the recyclers' association bvse as reported on 15 October. The north and east were flat to €5 higher; some mills in the west and south-west paid up to €10 more for high-quality new scrap, while the Saar was unchanged on weak demand. France, Luxembourg and Poland were stable to €5 higher, Austria and Spain up €5–15. Transport was the main problem: problems on Rhine shipping cut some mills and suppliers off from barges, and one steelworks adjusted production, and rail freight was costly at around €30 a tonne against €5–10 by road. Less car production and metalworking in Germany is also reducing the supply of good-quality new scrap.
Why it matters: Germany is Europe's largest scrap market; tight high-grade supply there supports prices for clean scrap even when overall demand is soft.
Technology19 Oct 2026
Eriez launches a system to cut copper in shredded steel scrap
Eriez, a US maker of magnetic and separation equipment, introduced a Copper Reduction Circuit for scrap processors and steel mills, reported on 19 October. Ordinary shredded steel scrap can carry more than 0.33 per cent copper, which lowers the quality of steel made from it. Eriez says its circuit brings shred below 0.20 per cent copper. Shred first passes a ballistic separator that sends about 75 per cent of the material on as cleaner shred; the remaining quarter goes over a magnetic drum that removes up to 3 per cent non-ferrous material and dirt and then to a picking station where copper-bearing pieces are removed.
Why it matters: As more steel is made from scrap in electric furnaces, mills pay more for low-copper shred; cleaner shred lets them use more scrap and less of the costlier pig iron or DRI they add to dilute copper.
Policy18 Oct 2026
Nigeria's Borno State bans the scrap metal trade over security risks
The governor of Borno State in north-east Nigeria ordered an immediate and total ban on scavenging and trading ferrous scrap metal on 18 October. The state linked the decision to security concerns, including the stripping of public infrastructure such as power lines for scrap. Reports noted that the ban cuts off a local source of scrap, so steel and foundry units in the region that melt scrap will have to buy it from further away at higher cost. Scrap theft from infrastructure is a recurring problem in several countries, and governments often respond with licensing rules or outright trading bans.
Why it matters: Local bans like this remove supply from regional melting shops overnight and show the growing link between scrap trading rules and infrastructure theft.
This page is a written summary of publicly reported developments, prepared for identification and discovery. Figures are as reported by the companies, associations and the trade press. Confirm details independently before relying on them.