[REE prices] very much do need to rise more in line with economic value to be sustainable.
What exactly is not sustainable at current prices? Lynas? Chinese miners, refiners, magnet-makers, motors makers?
On at least two occasions recently you have suggested Lynas might "move downstream". Regardless the fact you refuse to explain what exactly you mean, it's pretty clear why: to improve profits and sustainability. To leverage persistently-low REE prices as inputs to higher-margin ones.
Isn't this exactly the Chinese model? Keeping REE and NdFeB prices low disadvantages ROW supply chain development and advantages Chinese domestic downstream that brings profit to the entire vertically-integrated enterprise. I don't see why REE prices "very much do need to rise". At least not for the Chinese who control the prices.
But how exactly are you thinking Lynas can do "move downstream"? Metal-making? Magnet-making? By acquisition? Joint venture? Exactly what choices make sense, if any? Would Japan support that?
What price level for NdPr do you consider "more in line with economic value"?
Tariffs?..., page-7
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