Sydney, Feb 25, 2026, 17:57 (AEDT) — Trading wrapped up after the bell.
- Lynas Rare Earths (ASX:LYC) jumped 7.9% to finish at A$17.03.
- Fresh export restrictions from China on magnet metals kept rare earth supply jitters alive.
- Thursday’s half-year results have investors watching for any clues on costs, pricing, and sales volumes.
Lynas Rare Earths Ltd (LYC.AX) surged 7.9% to A$17.03 on Wednesday, hitting as high as A$17.09 during the session, with 7.66 million shares changing hands. The stock closed at A$15.78 the previous day, according to data. (Investing.com)
This puts the rare earths producer on track for an important milestone. Lynas plans to release half-year results for the period ended Dec. 31, 2025 this Thursday. CEO Amanda Lacaze is scheduled to lead an analyst and shareholder briefing at 11 a.m. in Sydney.
So why’s this coming up now? Beijing’s been clamping down on strategic minerals, and rare earths tend to swing at any sign of policy tension. On Tuesday, China’s commerce ministry announced it’s blocking exports of dual-use goods—those with both civilian and military applications—to 20 Japanese organizations. The upshot: these firms lose access to tightly controlled rare earth elements like dysprosium, yttrium, and samarium. (Reuters)
Prices aren’t sitting still, particularly beyond China’s borders. Dysprosium fetched roughly $1,000 per kilogram, and terbium’s price hovered near $4,500/kg. Neodymium-praseodymium (NdPr), crucial for magnets, held above the Pentagon’s $110/kg support threshold linked to its agreement with MP Materials, Investors Business Daily said. (Investors)
The S&P/ASX 200 edged 0.9% higher on Wednesday, paced by strength in materials. (Market Index)
Thursday’s focus for Lynas shareholders isn’t really the geopolitical noise—it’s the hard numbers that count. They’ll be zeroing in on realised prices, what it costs per unit, and how much cash the business is throwing off. Any fresh hints on demand trends from magnet supply chains—especially those trying to loosen ties with China—will get attention, too.
The timing on the half-year print isn’t great. Rising commodity prices might give margins a lift, but they also draw attention to how well the company’s running things. If output, maintenance, or spending slip even a bit, that macro narrative can unravel fast.
There’s risk on the flip side as well. Rare earth prices have a habit of rebounding once policy uncertainty eases or buyers pause to work through existing inventory. If prices drop quickly, that could challenge the upbeat expectations already priced in from the latest surge. The stock remains at the mercy of shifting policy out of China, and there’s still the question of whether alternative supply chains can move past talk and actually supply real material.
Lynas has pushed for pricing that makes investment worthwhile. “We need those customers to buy our product at prices that properly reflect the cost of doing business,” CEO Lacaze said back in January following a quarterly update. (Reuters)
The half-year numbers land Thursday, followed by an 11 a.m. briefing. Traders are set to parse every word on pricing, costs, and production—plus any hints on whether the latest export curbs are feeding stronger demand abroad, beyond China’s borders.
