Scrap Pr-Nd Continues to Pull Back, Overall Market Trading Remains Light [SMM Recycled Rare Earth Weekly Review]

Published: Oct 22, 2026 15:53 (GMT+8)

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[SMM Recycled Rare Earth Weekly Review: Scrap Pr-Nd Continues to Pull Back, Overall Market Trading Remains Subdued] Overall, scrap Pr-Nd prices continued to decline this week. Recycling enterprises pushed for lower prices and limited purchase volumes, with quotes adjusted downward for consecutive sessions. Suppliers showed low willingness to sell, and overall market trading remained subdued. In the short term, scrap Pr-Nd prices are expected to consolidate on a weak note. The subsequent trend will still depend on whether the oxide side can stop falling and whether recycling enterprises' purchase willingness recovers.

October 22 news:

This week, Pr-Nd recycled from NdFeB scrap closed at 735-745 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 a sustained downward trend overall, mainly driven by the pullback in Pr-Nd oxide prices. At the start of the week, scrap prices held steady, with recycling enterprises making no significant adjustments to their purchase quotes. Just-in-time procurement activity was limited, suppliers showed moderate willingness to sell, and market trading was sluggish. Mid-week, Pr-Nd oxide prices pulled back slightly, prompting recycling enterprises to lower their purchase quotes accordingly. Scrap prices followed the decline, with purchases focused on pushing for lower prices and limiting volumes. Suppliers adopted a wait-and-see attitude toward selling, and overall wait-and-see sentiment in the market was strong. Toward the weekend, Pr-Nd oxide prices continued to fall. Scrap-side inventory was relatively ample, and recycling enterprises showed weak willingness to purchase at high prices, with purchase quotes lowered consecutively and scrap prices pulling back further. Subsequently, the decline on the oxide side slowed down and market wait-and-see sentiment rebounded somewhat, but actual trading performance remained mediocre. Overall, Pr-Nd scrap prices trended downward this week, with recycling enterprises pushing for lower prices and limiting purchase volumes while lowering quotes consecutively. Suppliers showed limited willingness to sell, and overall market trading was subdued. In the short term, Pr-Nd scrap prices are expected to continue consolidating on a weak note, with the subsequent trend still dependent on whether the oxide side can stop falling and whether recycling enterprises' purchase willingness recovers.

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