Scrap prices remained stable, and market transactions continued to be weak [SMM Recycled Rare Earth Weekly Review]

August 20:

This week, the price of Pr-Nd recycled from NdFeB scrap was reported at 735-745 yuan/kg; dysprosium recycled from NdFeB scrap at 1,230-1,250 yuan/kg; terbium recycled from NdFeB scrap at 5,600-5,800 yuan/kg; gadolinium recycled from NdFeB scrap at 80-100 yuan/kg; and holmium recycled from NdFeB scrap at 200-220 yuan/kg.

This week, the scrap market price overall moved sideways, mainly influenced by the doldrums in Pr-Nd oxide prices, with recyclers' external purchase quotes unchanged throughout the week. At the start of the week, the scrap market continued the wait-and-see atmosphere after the slight price raise last week, with recyclers' quotes stable. Mid-week, although Pr-Nd oxide futures fluctuated frequently and spot prices continued to edge down, the decline was limited, and recyclers' purchase quotes saw no significant adjustment, while scrap suppliers remained wait-and-see on shipments. Compliant tax-included scrap circulating in the market was still scarce, and overall trading was average. On the whole, scrap market prices saw no significant adjustment this week, while scrap suppliers continued to adopt a wait-and-see attitude toward shipments, compliant tax-included scrap circulation remained low, and actual transactions continued to be weak. It is expected that in the short term, affected by the tug-of-war between upstream and downstream, the price of scrap Pr-Nd may move sideways in a narrow range.