Ann: Quarterly Activities Report, page-26

Taking a strategic approach to market dynamics, Lynas chose to retain 100 tonnes of NdPr inventory at the end of June for future sale. Meanwhile, Lynas’ strategy to agree long term supply agreements with selected end users is progressing positively. The current global geopolitical situation, including the potential imposition of tariffs, increases the relevance of this strategy. Whilst tariffs may cause disruption in the broader Rare Earths market, our business is firmly grounded in demand from our Japanese customers and we are building a strong portfolio of end user contracts in rest of the world markets which makes our business more resilient. Our view is that, as a general principle, market distortion is unhelpful. However, we believe that the proposed tariffs will not be immediately negative for our business and could indeed be positive.


Seems A trade war is good business for Lynas.