On July 29, MP Materials Corp. fell 5.12% in regular trading, trading at $38.98/share, with turnover of $94.66 million, extending the prior session's decline.

On the news front, the latest industry report highlighted a U.S. rare earth supply gap of 47,700 tons, while MP Materials Corp.'s magnet factory being built in Texas for the Pentagon is not expected to begin production until 2028, with near-term capacity ramp-up falling far short of market expectations. With only five months remaining before the defense supply chain deadline to fully ban procurement of foreign-sourced critical minerals, U.S. domestic annual production capacity is projected to reach only 5,000 tons by year-end, leaving the supply-demand imbalance difficult to resolve in the short term.

Within the Diversified Metals & Mining sector, performance was broadly weak. Among individual stocks, Rio Tinto PLC up 0.94%, BHP Billiton down 1.55%, Teck Resources Ltd down 2.83%, HudBay Minerals down 0.69%, USA Rare Earth Inc. down 5.82%.

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