Lynas reports record NdPr production in June quarter; sales revenue down due to lower rare earth prices

- Rare earth producer Lynas today announced "strong" operational performance in the June quarter 2023 with record NdPr production.

Lynas added this “excellent” performance is the result of effective operational equipment performance, continuous improvements managing upstream and downstream dependencies between Mt Weld and the Lynas Malaysia plant, and no significant downtime from external events. Importantly, the company said that external market dynamics, including softer demand for NdFeB magnets in Japan and China’s recent oversupply of La-Ce, resulted in lower market prices for rare earth materials during the period.

According to Lynas, future rare earth products pricing trends will depend on the economic recovery in China and the Chinese production quota for the second half of 2023.

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