Sydney, Feb 10, 2026, 17:15 AEDT — After-hours
- Lynas Rare Earths ended the ASX session up roughly 2.2%, with shares closing at A$15.14.
- NdPr oxide prices in China just climbed to their highest point since July 2022.
- State Street bumped up its voting stake in Lynas to 9.55%, according to a filing.
Lynas Rare Earths Limited (ASX:LYC) shares finished Tuesday’s session up 2.2% at A$15.14, catching a bid after rare-earth prices edged higher. The stock moved within a range of A$14.76 to A$15.27, although it remains a long way off its 52-week peak at A$21.96.
The shift follows a surge in neodymium-praseodymium (NdPr) oxide — a rare-earth blend essential for permanent magnets in EV motors and turbines — with prices in China finishing around 850,000 yuan per tonne on Monday. That’s a level not seen since July 2022, according to Market Index.
Lynas feels every price move. The company sells into a market where China’s grip on the supply chain still sets the tone, and even slight changes in benchmark prices can hit margins fast—especially for magnet metals.
Another factor in the mix: a substantial shareholder notice filed Feb. 9 shows State Street Corporation and its affiliates bumped their voting stake in Lynas to 9.55%, up from 8.47% after a Feb. 5 transaction. They’re now holding 96,082,792 shares according to the document, compared to 85,255,258 previously.
These shifts often look mechanical—think index flows, or custody changes that register as paper “buying.” Still, in a stock that’s quick to react to volume bursts, that kind of activity rarely goes unnoticed.
Lynas pulls rare earths from Mt Weld in Western Australia, shipping material for processing into separate products at plants in Malaysia and Australia. That makes it one of the only major producers not based in China.
Lynas reported in its latest quarter that average selling prices for rare-earth products climbed to A$85.60 per kilogram. CEO Amanda Lacaze noted, “the positive market sentiment seen in the December quarter has continued into January 2026.” The company also highlighted continuing efforts to shore up off-grid power stability at its Kalgoorlie processing plant. WeLink
Aside from Lynas, eyes are on listed names like Iluka Resources and Arafura Rare Earths, especially if NdPr prices keep climbing. For plenty of funds, Lynas is still the go-to for exposure—liquidity sets it apart.
Still, the risks are well known. Should Chinese production ramp up, or magnet-maker demand slacken, rare earth prices can snap lower. Even renewed chatter about minimum-price support policies is enough to unsettle investors, who may start to view the sector as subject to political pricing.
Looking out to the coming week, traders want to see whether NdPr prices hold up—and are waiting for the next update from the company to pin down figures on production steadiness and contract pricing. According to the earnings calendar, Lynas is set to report results on March 4.
