Scrap Pr-Nd stops falling and rebounds; rebound awaits transaction follow-up [SMM Recycled Rare Earth Weekly Review]

Nov 5 news:

This week, Pr-Nd recycled from NdFeB scrap closed at 705-710 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 scrap market showed an overall pattern of falling first and then rising, mainly driven by the Pr-Nd oxide price, which dipped first and then rebounded. At the start of the week, Pr-Nd oxide prices continued to decline, and recyclers lowered their external purchase quotes accordingly. Scrap suppliers showed strong wait-and-see sentiment and limited willingness to sell at low prices, resulting in weak actual transactions. Mid-week, the decline in Pr-Nd oxide narrowed somewhat, and recyclers continued to trim purchase quotes slightly, pushing Pr-Nd scrap prices lower. Subsequently, the single-day drop in Pr-Nd oxide widened noticeably, and recyclers cut purchase quotes repeatedly, driving Pr-Nd scrap prices further down to a weekly low. Suppliers largely stayed on the sidelines, and market trading sentiment was sluggish. Near the weekend, macro factors drove a sharp rebound in Pr-Nd oxide prices, and recyclers raised purchase quotes accordingly, lifting Pr-Nd scrap prices somewhat. However, trading volume in this round of gains was limited, as downstream magnetic material plants and motor plants generally adopted a wait-and-see attitude, and actual transactions on the scrap side remained weak. Overall, Pr-Nd scrap prices fell first and then rose this week, edging down for the full week. Recyclers adjusted purchase quotes in line with oxide-side fluctuations, while suppliers showed limited willingness to sell at low prices and mostly stayed on the sidelines, keeping market transactions persistently sluggish. In the short term, Pr-Nd scrap prices are expected to continue fluctuating in line with the oxide side. Whether the rebound can be sustained will depend on follow-through in oxide market transactions, and the market's wait-and-see sentiment is unlikely to ease significantly in the near term.