Scrap Prices Edge Up, Tax-Inclusive Supply Tightens, Procurement Difficulty Increases [SMM Recycled Rare Earth Weekly Review]

July 2 news:

Recycled Rare Earth Weekly Review:

This week, Pr-Nd recycled from NdFeB scrap closed at 765-775 yuan/kg; dysprosium recycled from NdFeB scrap closed at 1,230-1,250 yuan/kg; terbium recycled from NdFeB scrap closed at 5,600-5,800 yuan/kg; gadolinium recycled from NdFeB scrap closed at 80-100 yuan/kg; holmium recycled from NdFeB scrap closed at 200-220 yuan/kg.

This week, the overall scrap market edged up, mainly supported by the continuous rise in oxide prices. Early in the week, as oxide prices fluctuated relatively little, recycling enterprises quoted relatively stable prices for scrap purchases with no significant changes, and overall market trading was sluggish. By mid-week, as oxide prices kept rising, recycling enterprises raised their scrap purchase offers accordingly. Meanwhile, with the official implementation of the national standard "Classification and Comprehensive Utilization Technical Specifications for Recyclable Rare Earth Secondary Resources" on July 1, scrap suppliers were generally bullish, and their willingness to sell at low prices decreased, leading to reduced circulation of duty-paid scrap in the market and making it more difficult for recycling enterprises to procure. Overall, the current supply of compliant, duty-paid scrap remains limited, suppliers hold strong bullish expectations and are reluctant to sell at low prices, and recycling enterprises face relatively large procurement difficulties. In the short term, scrap prices are expected to drift higher, supported by rigid purchasing demand from recycling enterprises.