As of February 13, 2026, the rare-metal scrap market has been showing a generally firm trend across many categories. This is largely supported by the rise in nickel prices since the end of last year and the tungsten APT market continuing to hit record highs. Strong inquiries are being seen for items containing tungsten, nickel, copper, and tantalum, and a further price increase in the near term is expected.
On the other hand, titanium scrap continues to remain weak due to a global oversupply of inventories, highlighting a clear contrast between strong and sluggish product categories.
Titanium
- Pure titanium sheet scrap (new offcuts) ⤴: ¥300–350/kg
(based on specialized dealer purchase prices; same basis below) - Alloy 6-4 titanium turnings →: ¥150/kg
- Alloy 6-4 titanium scrap →: around ¥200/kg
- Ferro-titanium →: around $4.7/kg (market level)
Titanium scrap prices appear to have bottomed out toward the end of last year, but global oversupply has yet to be resolved due to continued inflows of Russian ferro-titanium and excess scrap availability.
In overseas markets as well, many traders report that “prices have not moved at all.” The market price for pure titanium scrap is stagnating around ¥400/kg, while alloy titanium turnings remain around ¥150/kg.
However, titanium cobalt products used in aircraft components continue to see stable demand.
Tool Materials
- Die steel (SKD61) →: ¥60/kg
- High-speed steel (mixed) ⤴: ¥400/kg
- High-speed steel (sorted/individual grade): ¥500/kg
- Cemented carbide scrap ⤴: ¥10,000/kg
Tungsten-related materials have been strongly affected by China’s export restrictions since last year, which have sharply reduced imports of APT and YTO.
Combined with declining global scrap generation and sellers holding back supply, demand for tungsten scrap remains extremely strong.
In particular, cemented carbide scrap has surged following the sharp rise in the Chinese market. Even ¥10,000/kg bids often fail to secure material, with some transactions reaching ¥13,000–14,000/kg.
Molybdenum
- Molybdenum oxide: $30–33/lb → sharply rising
- New molybdenum scrap: ¥7,000–7,500/kg
Molybdenum oxide prices, which have been rising since the start of the year, spiked sharply due to factors including:
- A fire accident at a ferro-molybdenum plant in the United States
Strikes at major copper mines
As a result, prices have climbed to $33–36 per pound.
Ferro-molybdenum has also risen to around $55/kg, pushing molybdenum scrap prices up to roughly ¥7,500/kg.
Molybdenum oxide price trend over the past three months ($/lb)
Tantalum
- Tantalite⤴: $100/lb
- Tantalum scrap (PIN) ⤴: ¥40,000/kg
Demand for metal tantalum is extremely strong, pushing tantalite prices to the key $100/lb level. Consequently, tantalum PIN scrap is now trading at around ¥40,000/kg as a standard price. Historically, tantalite prices tended to decline after reaching the $100 level, so market participants are closely watching whether the same pattern will occur this time.
Stainless Steel / Heat-Resistant Alloys
- SUS304 ↑: ¥185–195/kg (rising)
- SUS310 →: ¥400–420/kg (firm, with upward momentum)
- SUS316 ↑: ¥350–370/kg (rising)
- SUS330 ↑: ¥600–630/kg (rising)
- SUS430 →: ¥65–70/kg (unchanged from last month)
Supported by strong nickel prices, stainless and high-nickel scrap have been on a steady upward trend since December. Prices are broadly higher compared with the previous monthly average. Future price movements will likely continue to be influenced by developments in Indonesia, the world’s largest nickel producer, and the market could remain on an upward trajectory.
High-Nickel Alloys
- 42 Alloy scrap ↑: ¥750–800/kg (up from last month)
- Inconel 718 ↑: ¥1,000–1,100/kg (up from last month)
- Inconel 625 ↑: ¥1,100–1,200/kg (up from last month)
- Incoloy 800 ↑: ¥600–650/kg (up from last month)
- Hastelloy X ↑: ¥700–780/kg (up from last month)
- Hastelloy C ↑: ¥810–910/kg (unchanged from last month)
Overall, high-nickel alloy scrap prices have also strengthened, reflecting the broader bullish nickel market and increased demand for heat-resistant and specialty alloys.
Original Article and Translated by Rohini Basunde
