Oxide prices continue to pull back, NdFeB scrap market in the doldrums [SMM Recycled Rare Earth Weekly Review]

Published: Jul 23, 2026 15:29

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[SMM Recycled Rare Earth Weekly Review: Oxide Prices Continue to Pull Back, NdFeB Scrap Market in the Doldrums] Overall, this week, scrap prices, affected by the continuous pullback in oxide prices, were in the doldrums overall. However, as the supply of compliant, tax-inclusive scrap remained tight, suppliers showed low willingness to sell at low prices, and trading in the scrap market was stagnant. In the short term, affected by the stalemate in the tug-of-war between upstream and downstream, scrap prices may move sideways.

July 23 news:

This week, Pr-Nd recycled from NdFeB scrap closed at 775-780 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; holmium recycled from NdFeB scrap closed at 200-220 yuan/kg.

This week, the scrap market was in the doldrums overall, mainly dragged by the continuous pullback in the oxide market. Early in the week, Pr-Nd oxide prices declined, and recyclers’ purchase quotes correspondingly moved lower. However, the supply of compliant, tax-paid scrap remained tight, suppliers were cautious about selling, and low-priced scrap was hard to find. Mid-week, oxides weakened further, with dysprosium oxide and terbium oxide falling in tandem, but dysprosium and terbium recycled scrap prices held steady. Pr-Nd scrap losses were limited with support from tight supply, recyclers stayed cautious about bidding high, and trading was in a stalemate. Toward the weekend, oxides remained weak, downstream demand was sluggish, wait-and-see sentiment was thick in the scrap market, and overall transactions were sluggish. Overall, this week scrap prices were in the doldrums, weighed by continuous pullback in oxide prices. However, as the supply of compliant, tax-paid scrap remained tight, scrap suppliers were less willing to sell at low prices, leaving the market in a stalemate. In the short term, with the tug-of-war between upstream and downstream, scrap prices will likely move sideways in a narrow range.

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