Lynas will build inventory as insurance against production hiccups in the expectation of a rebound in rare earths prices.
Amanda Lacaze said there will be ‘an inevitable uptick in the market’.Lynas Rare Earths will withhold a portion of supply from the market in response to a plunge in prices for the key ingredient in wind turbines, electronics and military applications.
The move to withhold some supply from a weak market comes six months after the Albanese government warned Malaysia that a drop in production from Lynas’ Malaysian facilities would have a detrimental impact on global rare earths supply chains. “Malaysia is uniquely placed to be able to build both upstream and downstream activity in the rare earths market, and I believe that there’s a better recognition of that today, even more than there was maybe six months ago,” Lynas boss Amanda Lacaze said.
“We have made a choice that we will now hold additional inventory … because today, with the price where it is, we feel that it’s prudent we hold that inventory for what we believe will be an inevitable uptick in the market as economic conditions, particularly inside China, improve,” she said.
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