Scrap prices fell first and then rose, with just-in-time procurement trading moderate [SMM Recycled Rare Earth Weekly Review]

Published: Jul 9, 2026 16:05

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[SMM Recycled Rare Earth Weekly Review: Scrap Prices First Fell Then Rose, Just-in-Time Procurement with Moderate Trading] Overall, driven by the rise in oxide prices, scrap prices showed an uptrend, and the circulation of tax-included scrap increased. As scrap procurement remained in an inverted state, recycling enterprises mainly made just-in-time procurement, and overall market trading was moderate. In the short term, driven by oxide prices, scrap prices may drift higher.

Jul 9 (SMM):

This week, Pr-Nd recycled from NdFeB scrap closed at 775-785 yuan/kg; dysprosium recycled from NdFeB scrap closed at 1,230-1,250 yuan/kg; terbium recycled from NdFeB scrap closed at 5,700-5,900 yuan/kg; gadolinium recycled from NdFeB scrap closed at 80-100 yuan/kg; and holmium recycled from NdFeB scrap closed at 200-220 yuan/kg.

This week, the overall scrap market trend was first down then up. At the start of the week, influenced by the pullback in Pr-Nd oxide quotes, Pr-Nd scrap prices edged down, recycling enterprises lowered their procurement quotes accordingly, suppliers adopted a wait-and-see attitude toward shipments, and overall market trading was moderate. Mid-week, as Pr-Nd oxide futures and spot prices recovered and were raised, recycling enterprises gradually raised their procurement quotes, Pr-Nd scrap prices stabilized and rebounded, the circulation of tax-inclusive scrap increased, and recycling enterprises mainly made just-in-time procurement. Meanwhile, terbium scrap prices rose by 100 yuan/kg to 5,800 yuan/kg mid-week, driven by the continued rise in terbium oxide prices, while dysprosium scrap held steady at 1,240 yuan/kg throughout the week with little fluctuation. Overall, driven by the rise in oxide prices, scrap prices generally trended upward, and the circulation of tax-inclusive scrap increased. As scrap procurement remained in an inverted state, recycling enterprises mainly made just-in-time procurement, and overall market trading was moderate. In the short term, supported by oxide prices, scrap prices are likely to drift higher.

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