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Australian rare earth producer Lynas2017 annual sales rise

Australian rare earth producer Lynas posted a surge in revenue for the second half of 2017 due to increased sales and demand in the electric vehicle industry. The company reported sales of A $0.209 billion (US $0.1557 billion) for the six months ended December 31, 2017, compared with A $0.1146 billion in the same period the previous year. The company's total rare earth sales in the second half of 2017 were 8,839 tons, up 16% year-on-year. Neodymium/praseodymium (NdPr), a key element in rare earth magnets, increased sales by 6% to 2664 tons. Lynas said, "Energy efficiency (hybrid


Australian rare earth producers due to increased sales and demand in the electric vehicle industryLynas reported a surge in revenue for the second half of 2017.

The company is reported asSales for the six months ended December 31, 2017 were A $0.209 billion (US $0.1557 billion) compared to A $0.1146 billion in the same period the previous year.

The company is inThe total sales volume of rare earths in the second half of 2017 was 8,839 tons, up 16% year on year. Neodymium/praseodymium (NdPr), a key element in rare earth magnets, increased sales by 6% to 2664 tons.

  Lynas said: "Energy efficiency (hybrid/electric), green (emission control) and luxury vehicles require much more rare earth materials in the manufacturing process than basic internal combustion vehicles."

  "Rare earth market prices are affected by the expectations of rare earth market traders for energy-saving, green and luxury cars, rather than the actual daily demand for these vehicles."

The company said that as the demand for energy-efficient technologies grows, the demand for electric and hybrid vehicles and wind power generation, the use of neodymium/Praseodymium (NdPr) magnetic material demand continues to grow. "The demand for lanthanum and cerium materials used in catalytic applications for automobiles and other uses is also growing, albeit at a slower rate."

linas reports that the chinese government has cracked down on illegal production,The price of neodymium/praseodymium (NdPr) fluctuated in the second half of 2017.

The company stated that asIn the three months to the end of September 2017, the price of neodymium/praseodymium (NdPr) oxide excluding VAT in China rose to US $64.50 per kilogram, up 77% from the previous three months.

But...Prices fell back to $36.70 per kg in the last three months of 2017. In February 2018, Lynas said that the price of neodymium/praseodymium (NdPr) oxide in China was slightly higher than US $40 per kilogram.

Source: magnet manufacturers Youlian Magnetic Industrywww.youliancy.com


 

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