Hastings Tech Metals to Double Rare Earth Plant Capacity in Thailand, Targets 12,000 mt Annual MREC Production

[SMM Recycled Rare Earth Weekly Review: Scrap Prices Dipped Before Rebounding, Just-in-Time Procurement Trading Was Moderate] Overall, the scrap market remained stable this week. Recycling enterprises made no significant adjustments to their external procurement quotations. However, the supply of compliant, tax-included scrap remained tight, making procurement difficult for recycling enterprises and putting scrap procurement in an inverted cost predicament. In the short term, scrap prices may drift higher, affected by the tight supply of compliant, tax-included scrap and suppliers' low willingness to sell at low prices.

[SMM Rare Earth Weekly Review: Pr-Nd oxide consolidates with an upward trend, medium-heavy rare earth quotes generally raised, permanent magnet demand under pressure in off-season] Mid-week, as the price fluctuations of Pr-Nd oxide were relatively small, recycling enterprises did not significantly adjust their external purchase quotations, and the scrap market remained generally stable. Towards the weekend, driven by the rise in Pr-Nd oxide prices, Pr-Nd scrap prices were slightly raised to 785 yuan/kg, but suppliers remained cautious in selling. Dysprosium and terbium scrap prices ran steadily throughout the week, with relatively small fluctuations.

[SMM Rare Earth Daily Review: Rare Earth Prices Slightly Raised, Market Trading in Stalemate] Overall, Pr-Nd market prices were raised due to upstream's price-firming and reluctance to sell, but downstream magnetic material enterprises showed low enthusiasm for inquiries, resulting in actual market trading in a stalemate and intense tug-of-war between upstream and downstream. Holmium product prices continued to be raised, while dysprosium and gadolinium product prices operated steadily. In the short term, driven by upstream sentiment of holding prices firm and holding back from selling, Pr-Nd product prices may drift higher.