Lynas said in a statement recently that it noted that there had been some recent media speculation about the state of the rare earths industry.
China’s stranglehold is breaking, with the World Trade Organization recently ruling that its export tariffs were unlawful, but Lynas said there had been no variation to its position from last month’s quarterly report, when it posted increases in production volumes and sales revenue, and a fall in production costs.
“Having received the full $83 million (less costs) from the recent equity raising, we are looking confidently to the future,” chief executive Amanda Lacaze told The Australian Business Review.
Lynas’s shares had risen by 0.55 of a cent, or 10%.
The company’s stock has been dumped this year, as Lynas conducted two capital raisings and struggled to stay financially healthy.
This past week, europium oxide dropped 6.8% on the weekly Rare Earths MMI®, landing at CNY 2,050 ($333.78) per kilogram as the week’s biggest mover. Following a 1.9% increase, terbium oxide finished the week at CNY 2,650 ($431.47) per kilogram. Closing at CNY 14,000 ($2,279) per metric ton, cerium oxide remained unchanged for the week.
At CNY 1,420 ($231.20) per kilogram, the price of dysprosium oxide did not change since the previous week. At CNY 14,000 ($2,279) per metric ton, the week finished with no movement for lanthanum oxide. Lanthanum oxide traded sideways last week, hovering around CNY 14,000 ($2,279) per metric ton. Neodymium prices held steady from the previous week at CNY 357,000 ($58,127) per metric ton.
Prices for praseodymium neodymium oxide remained constant, closing the week at CNY 280,000 ($45,590) per metric ton. Praseodymium oxide remained essentially flat from the previous week at CNY 485,000 ($78,968) per metric ton. Closing at CNY 25,000 ($4,070) per metric ton, rare earth carbonate remained unchanged for the week. Following a steady week, prices for samarium oxide closed flat at CNY 18,500 ($3,012) per metric ton.
Closing at CNY 3,600 ($586.15) per kilogram, terbium metal remained unchanged for the week. Yttria traded sideways last week, hovering around CNY 37,000 ($6,024) per metric ton. Prices for yttrium remained constant, closing the week at CNY 270.00 ($43.96) per kilogram.
The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide a unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.