Pr-Nd scrap prices edge up slightly, compliant scrap supply remains tight [SMM Recycled Rare Earth Weekly Review]

July 16 – Mid-week, as Pr-Nd oxide prices fluctuated little, recycling enterprises did not significantly adjust their external purchase quotations, and the scrap market remained steady overall. Towards the weekend, driven by the increase in Pr-Nd oxide prices, Pr-Nd scrap prices were slightly raised to 785 yuan/kg, but suppliers remained hesitant to sell. Dysprosium and terbium scrap prices held steady throughout the week, with little fluctuation. This week, scrap market prices held steady overall, edging higher towards the weekend. At the start of the week, Pr-Nd scrap prices held steady at 780 yuan/kg, recycling enterprises mainly made just-in-time procurement, scrap suppliers maintained a wait-and-see attitude toward selling, and market trading was moderate. Mid-week, as Pr-Nd oxide prices fluctuated little, recycling enterprises did not significantly adjust their external purchase quotations, and the scrap market remained steady overall. Towards the weekend, driven by the increase in Pr-Nd oxide prices, Pr-Nd scrap prices were slightly raised to 785 yuan/kg, but suppliers remained hesitant to sell. Dysprosium and terbium scrap prices held steady throughout the week, with little fluctuation. Overall, the scrap market was stable this week. Recycling enterprises did not significantly adjust their external purchase quotations. However, supply of compliant tax-included scrap remained tight, making procurement difficult for recyclers, and scrap procurement was caught in a loss-making predicament. In the short term, tight supply of compliant tax-included scrap and suppliers’ weak willingness to sell at low prices are expected to keep scrap prices drifting higher.