Yes, low REE prices are not good and Lynas selling higher yields into an open market that is already oversupplied would be bad. However, AL has stated repeatedly that Lynas sells its products through long-term contracts and not at open marker spot prices. And they are effectively sold out. In my opinion, their customers value supply and price stability and China’s trade shenanigans regarding REE weaponization have enabled Lynas to set a floor on prices that will ensure the business remains healthy. Of course long term supply contracts also protect their customers from short term price spikes in the event of a trade spat supply squeeze.
Lynas has expanded its market share even as cheap REE from China flood the market - and Lynas has customers ready to buy expanded production once they achieve regulatory approval (or LAMP 2). Why is that? See above...
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