Xiamen Tungsten Reports 81.70% Revenue Growth, Rare Earth Business Surges 51.50% in H1 2026

China's NdFeB magnet demand fell in July as output across key sectors—NEVs, air conditioners, and washing machines—slowed due to seasonal weakness, extreme weather, and inventory drawdowns. August is shaping up as a transition month with only modest export improvements. Consequently, the traditional "Golden September, Silver October" peak season is likely delayed. Long-term demand fundamentals, however, remain unchanged.

[SMM Rare Earth News Flash] Australian rare earth producer Lynas released its FY2026 results on August 26. Benefiting from higher rare earth prices and an increased share of heavy rare earth sales, full-year revenue reached $977.9 million, with net profit surging to $222.4 million from $8 million in the same period last year. The company's total rare earth oxide (REO) sales increased 11% YoY to 12,122 mt, with the average selling price rising to $80.7/kg from $55/kg in the previous year. Among them, Pr-Nd sales grew 12% to 7,337 mt. The CIF Europe price of neodymium oxide increased 73% YoY to $121/kg, and terbium oxide price increased 58% YoY to $4,500/kg. The company's heavy rare earth expansion project at its Kuantan plant in Malaysia saw its cost expectations raised from A$180 million to A$294 million, mainly due to higher client purity requirements and rising overseas equipment procurement costs. In March this year, Lynas achieved commercial production of samarium oxide for the first time at its Kuantan plant, further expanding its heavy rare earth product line.