BUZZ-Australia's Lynas slips as US-China talks signal easing rare earths export curbs
Reuters
Jun 11
BUZZ-Australia's Lynas slips as US-China talks signal easing rare earths export curbs
** Lynas Rare Earths LYC.AX slips 7.6% to A$8.655; on track for biggest intraday pct drop since November 15, 2022
** Stock among worst performers on ASX 200 index .AXJO
** U.S. and Chinese officials agreed on a framework to put their trade truce back on track and remove China's export restrictions on rare earths
** Glyn Lawcock, Head of Mining Research at Barrenjoey, says de-escalation seen as negative for rare earths
** Notes prospect of rare earth availability declining and thus prices rising had been a tailwind for co in recent weeks
** LYC is the world's biggest rare earths producer outside China
** YTD, LYC gains 34.5%
(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((JasmeenAraIslam.Shaikh@thomsonreuters.com;))
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